Big data and analytics are topics firmly embedded in our business dialogue. The amount of data we’re now generating is astonishing.
Data has also evolved dramatically in recent years, in type, volume, and velocity – with its rapid evolution attributed to the widespread digitisation of business processes globally. Data has become the new business currency and its further rapid increase will be key to the transformation and growth of enterprises globally, and the advancement of employees, ‘the digital natives’.
Big data means better business
Data is an enabler of future strategies and immediate change, thanks to the power of predictive analytics and advanced data science. Correctly harnessing data can help to achieve better, fact-based decision-making and improve the overall customer experience. By using new Big Data technologies, organisations can answer questions in seconds rather than days, and in days rather than months. This acceleration allows businesses to enable the type of quick reactions to key business questions and challenges that can build competitive advantage and improve performance, and provide answers for complex problems or questions that have resisted analysis.
Big Data and analytics are becoming closely intertwined and need to work together to deliver the promised results of Big Data. Traditionally, Data management and analytics have resided in different parts of the organisation. Breaking down organisational boundaries and creating better integration between the IT and business departments is a critical step on the road to successful transformation.
The road towards digital transformation is a business critical one. Organisations embarking on this journey need to consider how each aspect of their business can be optimised to fulfil new digital objectives and new growth potential. Big data and analytics play a pivotal role in digital transformation, enabling organisations to optimise their existing processes and stay ahead of the competition.
This article originally appeared in itproportal.com To read the full article, click here