Companies today want to use big data analytics as a way to discover trends to improve the way they conduct business and bring value to their stakeholders. That is a high-priority objective.
Finding correlations across multiple disparate data sources (48%), predicting customer behavior (46%) and predicting product or services sales (40%) are the three factors driving interest in Big Data analytics. These and other fascinating findings from InformationWeek’s 2015 Analytics & BI Survey provide a glimpse into how enterprises are selecting analytics applications and platforms. Source: Information Week 2015 Analytics & BI Survey.
In data analytics, time is of the essence. Business leaders and decision makers often require real-time or close to real-time information to make informed decisions. However, it is estimated that 80 percent of an analyst’s time is spent on preparing and cleaning data for analysis. This leaves only 20 percent for actual analysis work, and precious time is wasted on preparing the data for analysis.
So what can you do? Repurposing your top analysts to ramp up data transformation is not really productive in the short term. So don’t ask your I T team to do something they have little feel for and that drives down their overall productivity. Ask around. Find one or two external teams that have both the portfolio and the skills sets to review your scope of work and then jump in to deliver results (defined and meaningful data that drives good decisions) in less time, with less waste and with a lot less frustration.
Our ETL Plus* and custom application development expertise allow our analysts to mix and match data sets as needed. We can blend internal with external data sources to establish historical trends and project need and demand, which are the backbone of any feasibility study. Additionally, we can help you monitor trends, measure progress toward a quantitative goal or flag shifts in your market or business operations. Call us to start a conversation that can enhance your data management investment while keeping you ahead of your competition.