Putting data to work has never been more of a priority in business, with 86 per cent of organisations having already implementing data-driven strategies or planning to do so within the next five years. Businesses no longer throw around the term big data like it’s going out of fashion, now it’s just data – measured for its potential to drive growth and reduce costs. As the way we look at data has matured, so too has our understanding of how to achieve the contemporary business dream: data-centricity.In order to achieve this goal, however, organisations must first focus on becoming data-driven. 2018 has been the year for taking data seriously, for basing key business decisions on data and letting the data analytics take precedence. In fact, research we conducted earlier this year revealed that, 80 per cent of organisations are no longer able to function without their data sources.Data management has also been subject to much tighter regulation, since the introduction of … [Read more...] about Three ways businesses will adapt to become data-driven in 2019
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Six best practices for maximising your analytic payoff
A growing number of companies are pouring investment into Big Data analytics. According to a Gartner forecast, the business intelligence and analytics software market is expected to hit a staggering $22.8 billion by the end of 2020.It is well known that Big Data analytics can be used to make better decisions faster and increase profitability. However, many IT leaders do not realise that real results depend on what happens after the software solution has been implemented. Continuous monitoring and tuning is crucial for the model to consistently deliver the expected business value.Without this next step, it can be difficult to achieve the desired results.What can companies do to get the most out of their analytics investment? Here is a checklist of six best practices:1) Start with the decision, not the dataExploring different advanced analytics tools without a clear idea about how they will solve current business problems is a waste of time and resources. Start by focusing on the … [Read more...] about Six best practices for maximising your analytic payoff