We live in an age dominated by digital content. Digital disruption has changed the world like never before. People are connected with many ‘things’, Things are connected with Smart Products and Digital Services. The volume of data modern enterprises has to process and interpret on a regular basis is massive.
Businesses are happy to have more data about their operations, customers and the results of strategy implementation. The only problem is that, once they have it, they may not know exactly what to do with all that information. Not knowing the best way to read, understand, and apply data can actually be costing your business. Those costs could take the form of lost revenue opportunities, lower efficiency and productivity, quality issues, or whatever else you’re trying to do by collecting data. For example, Forrester reports that between 60 percent and 73 percent of all data within an enterprise goes unused for analytics. That’s a huge waste of resources. And that's despite the fact that more companies are talking about big data, using technology to capture more data, and acknowledging the value of this information.
Business are realizing how important it is to exercise real data innovation and the value generated from it. Many of them are realizing they have a long way to go. Here’s a quick way to understand how deepheli LAB’s VALUE Innovation path can guide and help you to achieve this with the right analytics solution for your business. Gartner’s analytics techniques maturity model is behind our VALUE Innovation strategy.
Analytics–descriptive, predictive and prescriptive & Cognitive is a rapidly evolving field that gives companies the knowledge to make smarter business decisions. It provides valuable insight into past performance and future prediction and decision guidance. Analytics overall is still dominated by descriptive (what happened in the past) and predictive (what is likely to happen in the future) tools. Slowly prescriptive & Cognitive analytics fits into the broader analytics landscape.