WHAT ’ S NEW IN DATA ANALYTICS ?
DIGITAL TRANSFORMATION
Big data is no longer a boardroom buzzword . Even small businesses recognise the value of mining their data for insights
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Big data . It ’ s a phrase that has done the rounds of the world ’ s boardrooms and – for once – survived intact . No company wants to know less about its customers , or not be able to meet their needs . The competitive advantage that used to be gained by running customer forums , studying the accounts , and putting those learnings into next year ’ s strategic thinking has been usurped by always on , number crunching that can affect business decisions in the moment .
WHAT ’ S NEW IN DATA ANALYTICS ?
Increasingly , machine learning is being adopted to spot patterns in the data and automate responses . Building algorithms that allow more complex data to be processed and fed to either a machine or human means companies can act faster and identify risk more effectively . It also allows for software to model any number of future scenarios to offer predictive analytics , enhancing business strategy confidence .
NOVEMBER 2020