Initiateadvancedanalysis

Good businesses do analysis, but truly intelligent organizations run a people centric business in which smart analytics tools are the means, not the end, to further elevate the digital business maturity.

With “VUCA '' digital new normal, to survive the fierce competition and thrive with the long-term business advantage involve more planning, adaptation, and speed. Information-based analytics helps the management understand the business inside out and generate insight across the enterprise, consolidate, integrate and optimize the business process; do scientific workforce planning, customer sentiment analysis, and make objective assessment of organizational effectiveness, efficiency, and maturity.

Behavior & sentimental analysis: Becoming information-savvy and people-centric is the strategic priority for many forward thinking businesses in the digital era. Businesses need to pay particular attention to the quality of their data, the raw material from which they will extract these nuggets of insight. Customer-centric businesses have already used data to segment and target customers; doing sentimental analytics is the means to explore what’s in customers’ minds, gain customer empathy, and take action for driving customer-centric innovation and building a more customer-centric business. The right tools or the combination of approaches can make customer sentiment analytics more effective.

Advanced analytics can help the organization collect feedback, analyze context and quickly draw an inference from unstructured enterprise data and convert them into actionable customer insight. The in-depth sentiment analysis will increase the chance for high value customers to purchase higher-margin products or services, and also help to adjust business or marketing strategies accordingly. Such analysis lifts the organization up to the state of the art by making real-time tailored customer solution possible via tracking the behavior of individual customer, update their profile, and model their likely behavior in real time,

Real time analysis: In face of fierce competitions and frequent disruptions, timing is always important to leverage the right information for making effective decisions by the right people. This is more imperative when uncertainty, velocity, complexity, and doubts are major hindrances to decision making and problem-solving. Business leaders are asking for real time analysis, and it means data processing as soon as the data is ingested. Therefore, just-in-time information management is crucial; as the power of information is to empower the business with real-time insight across the organization in ways never possible before. Data-based analytics in real-time coupled with a powerful rules engine poses a challenge to the market with the prize being people centric and innovation excellence, high-responsiveness with speed, developing more participative models that better support the quantum leap in speed we are experiencing.

The real-time information can bring business insight and foresight, enable organizations to see the future clearly; enhance businesses competency, re-imagine growth, delight customers, and keep doing things innovatively. Businesses need to refrain from seeking to access, aggregate, analyze, and refine data until such time as you are able to translate business priorities into people-centric initiatives. Optimizing information management involves the use of technologies and processes of capturing, developing, sharing, and effectively using organizational information timely. Real time matters, quality matters more; good quality data, either big, wide or deep, with quality data management is a key factor for analytics success and running a real-time digital organization.

Advanced analytics solutions will give all kinds of businesses the capability to anticipate the future: Forethoughtful organizations are seeking to exploit the value found in convergence technologies - advanced analytics, with much more efficient returns, easier to use for the entire knowledge workforce, and on any device anytime anywhere. Analytics in itself adds no value; it’s the decisions that analytics helps to make and enables to drive the actual business value. Business Analytics is not the end of statistics; there are dangers that may befall executives in situations where analytics is construed to be an end in itself rather than a means to an end. No matter which analytics you apply, that's a big part of what data has to do - be transformed into actionable insight and catalyze innovation.

Analytics should be and surely be implemented in most of the large corporations around the world, from a cross-industrial perspective, many have embraced it and are taking advantage, and others will give it a try. However, there's a mixed bag of stories of big data experiment and adventure. Some leading organizations achieve high ROI by deploying their data successfully; on the other hand, the failure rate of analytics is still considerably high, which makes many executives hesitate to invest in. Information-based analytics needs to become the mainstream culture theme. In order to achieve this, they need to build an analytical roadmap and invest in software, people, and infrastructure, embedding analysis into decision-making, and varying management processes. This is where they can really differentiate themselves from their competitors.

Information analytics is more pervasive in modern businesses; it is fair to say now it’s reaching an inflection point for organizations to unleash their business intellectual potential via advanced analytics, but it still takes time for getting technology, methodology/process, and talent maturity. Good businesses do analysis, but truly intelligent organizations run a people centric business in which smart analytics tools are the means, not the end, to further elevate the digital business maturity.

Posted in: Big Data,Business Intelligence,Information/Data Management