What’s the ‘power to know’ worth? (Yes, we know that’s the slogan of a business intelligence vendor…SAS, to be specific). Ask most people and they will easily agree that accurate information, as detailed as the situation demands, is invaluable.
That’s why data analytics is tipped for big things by the likes of Gartner. The growth in spend, to over US$18-billion this year, is matched by the positive attitude which business leaders have towards concepts like big data (which is a branch of analytics). 85 percent of them believe it will dramatically change the way they do business.
There’s good reason for all that positivity. Analytic tools take raw data and turn it into valuable information to support decisions made by people. Combine gut feel with data insights and amazing things can happen: customers can be better served, problems anticipated and prevented, performance tracked and managed ‘at the minute’, products developed more effectively and at lower cost – and much, much more.