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In a survey conducted by PWC, executives across industries mentioned that their companies need to be faster and more sophisticated when it comes to decision-making capabilities. Most of them stated that they are seeking better tools and superior techniques to leverage data and gain a competitive edge.
These executives confront practically unlimited possibilities to create business value through data and analytics. Such creation of business value necessitates business leaders to make a leap toward a new view of data through analytics.
Executives need to move past the old approach of keeping siloed data, business applications stranded in data warehousing and business intelligence (BI) systems, primarily for reporting and basic analytical purposes. Instead, they need to think of data as the raw material for taking decision and need to consider data that comes from both within and outside the organization.
Over the next few years, it is expected that data and data analytics programs will become even more mission-critical throughout most industries and business functions.
Data analytics primarily deals with detection, comprehension and communication of meaningful patterns in data. It relies on the simultaneous application of statistics, computer programming techniques and operations research to quantify performance.
Most of the organizations realize importance of having a strong information strategy to unearth optimal value hidden in data. Such strategy is not a stack of technologies that an organization have or would want to acquire. It is a long-term commitment to leveraging information for improved business outcomes. Data analytics promises to form a critical component of the larger information strategy.
If your organization is in the process of formulating/ refining information strategy, exploring technology product options for leveraging data analytics implementing artificial intelligence, deep learning, machine learning, big data or have got started with project work in these areas, it would help to take services of a partner that can advise and work together with you to ensure delivery of planed business benefits.
The bigger challenge in formulating information strategy that results in actionable analytics and improved business outcomes is a lack of relevant experienced talent. To get the right skills required for Big Data Analytics, contact Aress software and reorient your business decision making to bring in enhanced data focus.
Category: Analytics, Artificial Intelligence, Big Data and BI