Analytics: The key to powerful and profitable insights

Introduction to Analytics

Analytics in the today’s world is used by top corporates and executives such as the likes of Amazon and Google to formulate the strategic decisions which have the capability to deliver the optimum value for customers as well as stakeholders. Large organizations such as Microsoft and Facebook are practically using powerful and fairly advance data analytics models to eclipse their competitors through their ability to exploit data.

“Data can perform the role of lifeblood for any organization if it is given freedom to flow freely across the entire established ecosystem”- Herman Heyns, Data Analytics, Ernst & Young LLP (UK)

Data nowadays is considered the heart and breath of all decision making processes. Big Data and Analytics are generally used to gather profitable insights, hidden patterns and powerful correlations through examination of large sets of data. The field of analytics empowers all the public and private organizations to harness the available data and optimize it for identification of new investment opportunities. 

Why to Invest in Big Data and Analytics?

Technology leaders such as Hewlett-Packard and IBM are seriously investing billions of dollars into Analytics and Big Data because of its capability to deliver actionable and applicable insights to all the respective decision makers spread across any particular organization. 

Market experts and global business leaders are highly recommending investments in Data Analytics due to several beneficiary reasons such as cost reduction, smart business moves, rising profits and ROI rates and most importantly happier and more satisfied customers.

Script All DNA technologies provides powerful and market driven analytics solutions and services that are best suited for your particular organization. The company is expertise in all the particular business and industry domains and delivers proven insights to accelerate your business with the necessary speed.

Source: Deloitte Analytics

What are the Key Drivers and Findings?

Script All DNA technologies defines top 10 useful drivers that can motivate your organization to implement its big data analytics services and solutions.

• Better understanding of the customers
• Improvement in products and services
• Significant improvement in management of data
• In order to create new beneficiary revenue streams
• In order to monetize the already existing data
• Improvement in internal efficiencies
• In order to explore and profitably exploit new data sources
• For bringing improvised management of risk, compliance and governance
• Improvisation in successful detection and prevention of frauds
• To create futuristic investment and business models

Source: Deloitte Analytics

The two basic areas where analytics significantly drives Return on Investment are:

• Total Income production
• Overall Cost Reduction

Challenges faced by the Organization during Adoption of Analytics

“A small amount of rightful information at the very moment of truth is more worthy than all the available information around the world two weeks of time after the fact”– Business Analytics Group

Challenge 1

It is very necessary to build a capable and rightful organizational structure and proven governance framework to support value dependable decision making 

Challenge 2

The biggest problem with adoption of analytics is the regulation of maximum security and compliance. The cases data breach such as Cambridge Analytic scandal has made it challenging to keep the data and insights safe.

Challenge 3

Deliverance of actionable insights to all the relevant decision makers spread across the organization itself is a huge challenge which needs to be tackled through intelligent governance strategies.

Challenge 4

Development of the required talent is very essential to convert data into profitable insights and business value.

Are Big Data and Analytics worth investing?

The answer that increasingly comes out is yes. Even when the most influential and valued impact of analytics is on the income production and cost reduction there exist many influential regions where analytics delivers by:

• Increase in the sales
• Identification of innovational opportunities
• Authentic forecast of financial performers
• Better understanding of financial drivers

How Analytics and Key Technologies Work?

Analytics is generally defined as a function that needs to be performed by the combination of different technologies. Everything works together in order to generate valuable and precious insights from the information available. Script All DNA defines some of the largest and influential players that play a strategic role in organizational competitiveness and winnings.

Machine Learning

The use of Artificial Intelligence in creation of models that can successfully large and more complex data sets and deliver precise and quicker results. Adoption of machine learning in analytics has led to better identification of profit making opportunities along with avoidance of unknown risks.

Data Management

Data Management tools and technologies are required to maintain the authenticity and originality of data. Managing data flows is one of the most important parts of governing the organization and gives out better insights during analyzing.

Data Mining

Data Mining plays a very important role in examination of large amount of data in order to discover beneficial patterns and correlation. Data Mining processes large pile of information and accelerates the speed of making informative strategic decisions.

In Memory Analytics

The form of analytics consists of deriving immediate insights form the data present within the system itself.  Using in memory analytics organizations can remain agile and deduce better business decisions.

Predictive Analytics

Technologies such as Artificial Intelligence, Statistical Algorithms and Machine Learning Concepts are used to detect futuristic trends and consumer behavior. Many E commerce giants such as Amazon and WALMART use it to gain profitable insights about their target audience.

Text Mining

Text Mining includes successful mining and analyzing of text data using natural language processing from the web sources, eBooks, emails, blogs, twitter feeds, surveys to uncover that beneficial insights that were unnoticed before. It plays a very important role in marketing, branding, promotion, studying consumer behavior and forming profitable business relationships.

General Barriers Regarding Acceptance of Analytics

“Once you start spending resources, the importance of data grows. The culture we are growing in is more and more data hungry. The fact is that the best of idea driven by the best of data generally wins”.   – Head of Analytics Firm

Source: Deloitte Analytics

• Quality of the data available
• Inadequate expertise or qualification of the analytics staff
• Rudimentary or primitive IT infrastructure
• General lack of executive advocacy

Necessary Steps to follow in order to Profitably Exploit Data

“Usage of simple tools to deliver complex analytics has substantially improved the workforce planning and reduced the necessity for new hiring and overtime” – Harvard Business Review

Source:  Deloitte Analytics

Getting the Rightful IT Support

Deciding the right data analytics partner can play the role of game changer for your business. Script All DNA provides one of the most advance and result oriented analytics services and solutions to boost your business growth.

Deriving Models and Insights that Predict and Optimize Business Outcomes

Always develop business relevant analytics and insights that can immediately be put under usage to generate substantial amount of profit and witness significant change.

Putting Efforts to transform your Company’s Capabilities

The particular exercises include embedding of analytics into simple tools for the front liners and developing capabilities in order to profitable exploit big data.

Summary

All the businesses are highly recommended to invest and collaborate with analytics experts in order to attain success in the highly competitive world.

 Script All DNA is expertise in the particular science of winning and has a proven history of providing profitable insights that have transformed organizations of all shapes and sizes.

Analytics firms have changed the way public and private sector organizations formulate important operational decisions and take profitable actions. 

Data in its raw form may inherit limited value but when managed as a strategic asset with the help of leading analytics firm such as Script All DNA can change the whole approach of the particular organization towards competing and winning.

Majority of businesses are now recognizing the power that analytics inherit to accelerate growth and optimize their valuable time and resources. 

Still many of the firms are hindered from the value driven decision making due to lack of awareness, weak leadership and limited investments. 

Such firms are advised to seek consultations from IT leaders such as Script All DNA in order to explore the potential of analytics and plan out a better future for their organization.