In the last few decades, Analytics has emerged as the largest differentiating activity for the average business. Analytics helps companies correlate or extricate data from various sources and identify patterns that can aid decision-making at all operational levels. However, Senior Management and key decision makers are still dependent on dedicated teams and costly vendor software to both access and format data.
Much of the problem lies in the lack of data blending abilities, which delays the process. A recent survey conducted showed that 72% of business and analytics leaders are unhappy with the time taken to get data analytic results, with 90% of them stating the lack of data blending abilities as the main reason. 67% of the companies surveyed said that they lacked the right kind of analysts who can extract the data from various systems. And even if they had them, these analysts would still be dependent on IT to provide it.
If access is one issue, capabilities are another. Analytics require the right dataset to be married to the right business issues. Creating the right dataset requires powerful tools in the hands of analysts. Not having such tools presents a huge business loss in missed insights and missed business opportunities.
New age Analytics precisely aim to address this with various providers offering and innumerable solutions to help analyst teams in departments such as sales, marketing, production and technology get the right insights in hours, which normally would have taken days or weeks.
- You can now get intuitive workflows for data blending with predictive Analytics, spatial Analytics, reporting, visualization, and analytic apps all into one, single workflow. This saves analysts precious time, and cuts the analysis time from weeks and days to hours.
- You will be able to share resulting insights with other departments and key decision makers. This provides the data processing capabilities of a server-based Analytics solution along with the simplicity and interactivity of a business-ready Analytics application.
- You get the benefit of cloud-based Analytics platforms that deliver user-friendly, consumer-like Analytics experiences which help organizations harness the power of Big Data in short spans of time. It makes the Analytics process more agile, hence saving costs and enabling quicker deployments.