10 reasons why companies should invest

In this days, Data is presented as one of the most valuable assets that companies have. Data management, Its proper reading and use, Generates significant advantages for business decisions and operations.

In fact, according to Forbes, The ability to capitalize on information and data analysis 'can make or break a company'; And that is why big data, Artificial intelligence and predictive analytics make organizations compete today for an advantage or fear disruption.

Having an analytical edge is essential. And companies are seeking it. The results of a to study Reveal the underlying motivation: the 58% Leading companies in analytics saw a direct correlation between data analytics initiatives and a “significant improvement” in their competitive positions. In fact, the 60% these organizations reported revenue growth of more than 7%, while more than a quarter of the analytics elite saw revenue increases of more than 15%. Conversely, the 18% companies labeled “followers” recorded revenue increases below 5%.

Know your customer and value their feedback

Maximizing customer knowledge is a major challenge for a growing number of companies, that must work to become an organization. data driven and operate with an increasingly complex range of data sources: customer complaints, employee feedback, account and sales management reviews, profit and loss data, market research, transactional information, general and company surveys. industry, online customer forums, etc.

In this field of management and data analysis, the consultancy Gartner foresees a series of clear trends for the coming years 3 a 5 years. For instance:

• Expect that augmented analytics will make information available to all business roles.
• Data management tasks will be automated using machine learning and artificial intelligence capabilities (HE).
• Natural language processing (NLP) and conversational analytics “will democratize” access, bringing data analysis and business intelligence to more than 50% of employees for 2021.

10 reasons to invest in data management

Investing in data and analytics projects is almost a strategic imperative in the current context. But if the essential reasons had to be outlined, they could be summarized as follows:

1. Raw data is like oil: it has little value if not processed. The more refined the data, the more valuable it becomes for the organization. Having a policy of data quality and tending towards data optimization is fundamental for a company seeking sustained, long-term growth.

2. Today, companies aim to differentiate themselves, among other aspects, through the experience they create for their customers, rather than through price or product/service features. And to optimize the customer experience, data is the fundamental basis. Analysis increases personalization possibilities.

3. Cutting-edge companies strive to optimize customer journey end to end, using real-time analytics at various points of interaction. Thanks to the drive of data and analytics, each customer is expected to follow a personalized and unique process.

4. The changing characteristics of both the market and consumer preferences and moods make real-time decision-making essential today. And for this, it is crucial to have data analytics and continuous intelligence systems.

5. Data-driven analytics help improve product and service quality.

You may be interested in reading: Real-time data: What is the difference between data and information?

6. Building predictive models allows you to anticipate and forecast scenarios. Predictive analysis helps you understand potential future events by analyzing the past. It covers a variety of techniques (including machine learning, data mining and predictive modeling) and uses statistics (current and historical) to predict possible scenarios, particularly in operations, security, marketing, etc.

   

7. By investing in data, innovation cycles can be accelerated. It can quickly identify trends and opportunities, as well as weaknesses. Having the right information at the right time provides a powerful advantage.

8. Nowadays, all business processes of companies (manufacturing, finance, Logistics, HR, etc.) se ajustan y optimizan permanentemente en base a datos en tiempo real. Therefore, hoy en día la analyticsAnalytics refers to the process of collecting, Measure and analyze data to gain valuable insights that facilitate decision-making. In various fields, like business, Health and sport, Analytics Can Identify Patterns and Trends, Optimize processes and improve results. The use of advanced tools and statistical techniques is essential to transform data into applicable and strategic knowledge.... ya no es una instancia separada, sino que es una parte integral de las operaciones.

9. Los conocimientos que surgen de los procesos analíticos a menudo ayudan a descubrir formas de reducir los gastos.

10. Además de utilizar datos para optimizar las experiencias de los clientes, hoy las empresas tienen la opción de monetizar la información, anonimizarlo y agregarle valor.

Clearly, al alcanzar la madurez analítica, las empresas logran una posición competitiva más sólida. El desarrollo de procesos exitosos en el campo de la gestión y el análisis de datos conduce a mejorar la experiencia del cliente y optimizar los procesos en sí.

Y todo ello, as we have seen, redunda en un aumento de la rentabilidad.

En tu compañía, ¿Está invirtiendo en la gestión de datos? ¿Por qué no empezar hoy mismo?