The key to sustaining a healthy and globally competitive manufacturing sector is making better use of data and analytics, according to an article on the Center for Data Innovation website. This so-called “smart manufacturing” could create $371 billion in net global value over the next four years, according to a 2014 estimate… Read More →
There’s little doubt that the use of big data and analytics is having a dramatic impact in helping data scientists arrive at fact-based hypotheses. Data-driven decision-making is “the practice of basing decisions on the analysis of data rather than purely on intuition,” according to an article by Tom Fawcett and Foster J…. Read More →
“It is no longer good enough to simply satisfy your customers or to have a product that works. No longer can you merely deliver a service within the timescale you have set. All these are important and we have to do them. But what will really make the difference is… Read More →
Next best action marketing has gained a great deal of momentum in recent years. That’s because companies are increasingly focused on gathering, analyzing, and acting on insights for appropriate actions to take with individual customers. For instance, let’s say a bank customer applies for a new credit card. Bank officials… Read More →
According to a recent study published by the Economic Intelligence Unit and PriceWaterhouseCoopers, 79% of executives make a “big” decision every quarter and one in three business leaders place the value of these decisions at $1 billion or more. However, when it comes to using data and analytics, just 32%… Read More →
While the potential of analytics to bolster the bottom line for business has been buoyed by the publicity of the growing volume and variety of data flooding many corporate networks, just about any industry can benefit from analyzing data sources already in place.
One of the greatest benefits of an enterprise-wide analytics platform is that it enables data analysts and scientists to work collaboratively and brainstorm on approaches for solving a company’s top challenges.
Today there are so many channels available like Facebook, Twitter, and Pinterest that social media, along with SEO, have become the foundations of many companies’ online marketing campaigns.
While there’s been no lack of attention paid to the vast potential big data has for bolstering business operations, many of the challenges to exploiting big data sources lie in transforming the people and culture within companies.
As integral members of the C-suite, CIOs are expected to do more than simply act as technology stewards. CIOs are expected to help drive the business forward. This includes leveraging technology and thinking creatively to identify ways to generate new revenue streams and optimize operational efficiency business performance.