FEATURE : ANALYTICS insights can support proactive planning and more informed decision-making .
Actionable intelligence can also be gained by combining an organization ’ s data with additional data from other sources . This could be anything from weather and climate data to foot traffic in a shopping mall or known delays within a supply chain .
What are the biggest barriers to enterprises making the most of their data ?
Within many organizations , their data is siloed and held in multiple different systems . Overcoming this barrier by creating a single data platform is an essential first step before the power of analytics can truly be put to work .
This is particularly important as more organizations shift from using data to create a ‘ rear vision mirror ’ view to a ‘ real-time ’ view of operations and have the ability to make predictions about future events . This trend is being supported by rapid development of new Artificial Intelligence and Machine Learning technologies .
How can companies break down data silos to deliver a greater degree of visibility ?
This is a critical step as it will allow an organization to extract the maximum value from the data it has available . The best approach is to create a single , scalable data platform that can manage all data across the organization .
When selecting a platform , it is important to confirm that it has the capability to work with your chosen analytics tools . There are likely to be multiple groups of people across the organization querying the data and the platform must be able to support this .
As well as delivering a greater degree of visibility , taking such steps will improve data security and governance . It will be clear where data is stored at all times and those responsible can confirm that all regulatory and governance requirements are being met .
Is the ultimate aim of analytics to create an end-to-end view of a customer ’ s experience ?
Again , this will be the case for some but not all organizations . The objective of analytics is to help an organization deliver on its mission , and if that involves directly serving customers , having an end-to-end view will be vital .
How far can analytics help enterprises solve business challenges ?
The limits of what can be achieved through effective use of analytics is yet to be reached . If used correctly , they can solve a range of business challenges , both within an organization and externally in the way it views the world .
The importance of data will continue to increase . Those organizations that make the best use of it will have the most success when it comes to solving business challenges . p
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