As digital technologies spread their roots in the business world, organizations have access to more data than ever. This data becomes an essential organizational asset when utilized for enriching business strategies. But the process of turning data into insights is as important as the data itself. Hence, more and more organizations across sectors are deploying advanced analytics to grow […]
How Analytics Consumers and Data Experts Can Come Together to Close Insights Gaps
Data is critical to empowering businesses to make decisions that translate into boosted bottom lines. However, a recent NewVantage survey found that only 24% of the workforce is confident in their ability to read, work with, and analyze data. As a result, many organizations depend on data experts to obtain relevant insights that inform decision-making, which reinforces silos that separate […]
Why Digital Analytics Is So Important Today – and Three Real-World Practical Use Cases
The COVID-19 pandemic forced almost every organization to adapt to digital ways of working and operating virtually overnight – no matter their sector. It was a culture shock that meant brands had to accelerate their digital transformation strategies at short notice and push through changes that had been in development or stuck on board agendas […]
Can Predictive Analytics Provide Accurate Results Without Burdening Users?
If your business is struggling to forecast and predict outcomes and results, your management team is probably considering predictive analytics. The technology research firm Gartner states that “by 2025, 50% of data scientist activities will be automated by artificial intelligence, easing the acute talent shortage.” For the average team member, the concept of predictive analytics may seem daunting, […]
Using Data Analytics to Understand Gross Margin Attribution
Companies across sectors and of all sizes face a common problem: understanding their profit margins and identifying the levers that are attributing to those margins. It’s as fundamental to business operations as you can get – if the margin isn’t there, you’re not going to have a viable business, and in an increasingly data-driven world, businesses that […]
Five Types of Advanced Analytics Challenges
Many data scientists and analytics consultants complain they were hired to be a part of advanced analytics teams at corporations, but all they do is data analysis or reporting work. The bigger problem here is that the personnel leading these teams genuinely believe their problem statements are advanced in nature. And rightly so – as […]
Innovations in Deep Analytics Are Critical to the Future of Supply Chains
Digital transformation accelerated very quickly during the global pandemic, leading to 10 years of innovation in just three months. The abrupt changes came mere weeks after the rules of the California Consumer Privacy Act (CCPA) went into effect and just a few months before they were enforced. As the risk of new fines piled up – at […]
Is Your Business Ready for Data Science?
As data science and AI technologies become more integrated into everyday business processes, more and more companies are seeing their tremendous benefits. But there are challenges with successfully deploying AI in a manner that drives measurable business outcomes. I wanted to share with you some of the best ways to address those challenges and help […]
The Impact of Predictive Analytics on the Global Food System
With over 12,000 years of experience in agriculture, humans have learned quite a bit about the many aspects of agriculture. From plant domestication to farming, agriculture has grown to be the backbone of the world – providing food, fuel, feed, and fiber. What was once dominated by ox and plows now relies on technologically driven tractors. Decisions […]
Data Democratization on the Business Front Line
There has been a lot of press about the concept of data democratization and the resulting improvement in data literacy across the enterprise and yet, many businesses still see this democratization effort as restricted to middle managers or to the use of analytics within the four walls of the headquarters or regional offices of the […]