A McKinsey report recently outlined how the era of simple experimentation is over for the field of business analytics. Instead, companies themselves need to become analytical, rather than anecdotal as is the trend presently. Data is very much the fuel to the entire needs of the process. A report by Forrester claims that the present year’s Big Data footprint alone would be worth US$ 31 billion. For a start, all analytics tools need to be used to solve genuine business problems, and not just check functionality or features. Strategists must understand that analytics is an investment for a long- term solution. So, the process needs to be an ongoing one. This analytics needs to be embedded across the business areas within the organization. The analytics- driven culture will only arrive when the executives are on board. So, they need to be doing their part in it.

Source:https://www.forbes.com/sites/forbestechcouncil/2018/12/10/four-steps-to-transform-your-organization-from-anecdotal-to-analytical/#239a30216a78

Uploaded Date:28 December 2018