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Analytics are Evolving. Is Your Business Keeping Up?

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Analytics are Evolving. Is Your Business Keeping Up?

Once upon a time, organizations were quite content to distribute analytics via cumbersome, static dashboards and pat themselves on the back for “empowering” their decision makers. Those days are over, and here’s why:

  1. Artificial intelligence (AI) and machine learning now enable organizations to deliver laser-focused, actionable insights to users across the system.
    Takeaway: Analytics can evolve.
  2. Everyday users have neither the time nor the expertise required to wade through reams of raw data in search of usable insights. Takeaway: Analytics must evolve.

In our latest infographic, Analytics Evolved — Why Now is the Time to Implement Systems of Insight, we present some insights that herald the age of the insight-driven business.

For example, 46 percent of respondents from a recent Aberdeen Group study said that competitive pressures are requiring them to use data more strategically. That means businesses can no longer blast out massive Excel spreadsheets for decision makers to decipher when they have a spare hour (or six). If data is to be used as a true strategic asset, organizations must leverage AI and machine learning to translate raw information into actionable insights, and deliver these insights to users within their current workflows.

Of course, this transformation doesn’t happen overnight. Organizations must pass through three stages in their evolution to become insight-driven businesses:

  • In the Enable stage, the organization delivers the data everyday users need to make analytics-driven decisions. Not a bad place to start, right?
  • In advancing to the Innovate stage, the business “de-silos” its analytics and offers individual insights within existing business apps.
  • Finally, the Disrupt stage is where AI and machine learning enter the picture to uncover hidden opportunities.

Does the evolution from static analytics to systems of insight really make that much of a difference? Yes, it does — just ask Fourth, a UK-based provider of cloud-based, cost control software solutions to the hospitality industry. When Fourth began offering customers a data-driven system of insight within the application they were already using, the company realized an annual ROI of 117%.

To learn more about this brave new world of AI-powered analytics delivered at the point of decision, download your copy of Analytics Evolved — Why Now is the Time to Implement Systems of Insight.

Written by GoodData Author  | 

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