All those businesses which are data intensive are well aware of the fact that analytics offers companies new business opportunities to venture into when properly leveraged. In recent times, companies are learning through various resources that databases have grown large enough to hold virtually every piece of data that the company collects and computing has become affordable in such a way that it can be thrown at any number crunching problem that the IT department might have.
Till date, we have heard about success stories about how companies have used analytics to save money, get to market faster, etc…If we have to come up with a definition that would cover as many situations as possible- Analytics consists of technologies, applications, people, and processes that allow a firm to transform their data into actionable insights.
However, what seems to have been forgotten in the IT sector’s current “analytics madness” is that if a manager doesn’t know what they are looking for, then they won’t know what to do with what they get.
To accomplish it, a company has to show some leadership and perform four tasks-
- Collect, manage, clean and store company data
- Extract and analyze company data
- Report on the results of analysis
- Make decisions based on the reports and take actions
IT managers need to realize that the real benefit of this wave of interest in analytics is for the company to be able to perform real-time data analysis. This can be done by
- Dealing with real-time data sources
- Merging multiple data sources
- Creating predictions- not just reports
- Supporting the entire company, not just a few users
- Automating the analytics process
What does all this mean?
In a nutshell, analytics allows a company to transform their big data into actionable insights. This means that real-time data sources are going to have to be leveraged and multiple data sources are going to have to be consulted. In implementing an analytics solutions, IT managers are going to have to manage hardware, software, services, processes and people.
So, will all this prove worthy in real-time?
Hmmm….the answer appears to be yes as industry analysts who have the power to peer into the future are telling us that the area of analytics is set to explode over the next few years.
Knowing this, IT managers and their IT dream team need to take steps today to get ready.
Just approach DNF Corporation to deal with all your data analytics needs.