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Analytics applied

Unlocking the value in your data

Analytics applied

 

Background

The data in your organisation is full of potential. Stored throughout the business, it has a wealth of possibilities.

The leading institutions in your industry recognise that a better understanding of data (particularly as a predictor of the future or an identifier of existing issues) can create new opportunities and makes a significant difference to managing performance.

Analytics is, in our opinion, the natural evolution of business intelligence processes, tools and technologies. While business intelligence focuses on historical analysis, analytics builds upon this set of technologies and techniques to re-focus on the future; helping predict future trends, opportunities and threats.

Interest in analytics has grown with the increasing complexity of today’s business environment. Challenges such as the variability in global growth, increased regulation, government and consumer spending patterns, and an ageing population require organisations to respond with advanced analytical capabilities to enable informed decisions.

At the same time the enabling methods and technologies have improved dramatically, moving analytical techniques out of the lab and into the business. Developments in the application of leading edge statistical and mathematical techniques; growth in social media usage; increased familiarity with analytical techniques across groups of employees, citizens and customers; software improvements; and access to data storage and computing power – including through cloud techniques - will enable companies to take advantage of the rapidly increasing deluge of proprietary and market data and open up new opportunities.

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