While the cost of doing nothing quickly can prove very high for organisations, when it comes to seeking new ways of adding value to your data and generate business insights, it is fortunate that new technology with an entirely new business insights paradigm has emerged in recent years.
Only a few things mean more to organizations than data if they wish to stay relevant to their stakeholders. These are to master data and transform data into business insights, decisions and actions at a rapidly increasing level subject to automation.
The old paradigm for translating big data into business insights requires many costly investments in different business intelligence solutions, reporting tools, online analytical processing and other technologies to help manage their business needs.
Introducing a brand new business insights paradigm
The new business insights paradigm seeks to minimize or even eliminate well-known barriers originating with data silos, poor data integration and the lack of capability to analyse structured and even unstructured data. These are the barriers that many organisations are facing everyday when trying to translate big data into value-adding business insights.
A brand new business insights paradigm
63 % of leaders agree that integrated insights solution models create a significant competitive advantage.*
The benefits arising from the new insights paradigm allow organizations of all shapes and sizes to integrate and even automate true predictive analytics into their everyday business environments and processes. This eventually unlocks the powerful value residing in all types of data from various sources to improve processes and make insights-driven decisions in crucial business areas.
The value of working by the new business insights paradigm
- Breaking down data silos to integrate data from structured and unstructured data across transactional, behavioural, observational and survey data to harvest the advantages and improved performance that derive from powerful insights.
- Advancing insights to focus on the future by means of predictive analytics
- Benefitting from real-time insights available as dashboards from anywhere, anytime.
- Directing insights to where the real decisions are made.
- Preparing to benefit from the opportunities offered by the Internet of Things (IoT) and the Fourth Industrial Revolution (Industry 4.0).
- Reducing the costs spent on insights
*(Source: "Analytical enablement: How leaders harness distributed business intelligence to drive breakthrough results", Bruce Rogers, Forbes Insights, April 2016)