siliconindia | | August 20189Analytics should be treated as an enterprise-wide strategy, not an ad-hoc endeavor that varies from department to department that are using data as a strategic asset at an enterprise level to rethink and reimagine their entire business. · To better utilize data for strategic gain, enterprises alreadyusing advanced analytics see the need to foster a cultural shift designed to promote collaboration and data analytics skills.· When driving innovation and ultimately growth, globalexecutives agree on one thing--analytics should be treated as an enterprise-wide strategy, not an ad-hoc endeavor that varies from department to department. · Critical to address this are a couple of key steps whichinclude:· Building bridges between the business and technical teamsto design a solution that you want to put in place. · Find common ground to build synergies and moreimportantly, move forward.Nowadays, a lot of hype is forming around data analytics and both growing players and big-fishes in the market are ideating its benefits. What are the advantages of using data analytics for an enterprise?· Of the executives we surveyed who have an analyticsstrategy that is well-established and central to the overall business strategy, 66 percent achieved revenue growth of 15 percent or more, while 63 percent reported that operating margins had increased 15 percent or more in 2016.· We also see organizations showing a mix of tactical andstrategic goals, with a desire to develop new products or services also on their analytics wish list.· The potential to employ data and advanced analyticsstrategically takes on even greater importance for the leaders--they certainly see tactical opportunities, but they're even more interested in how they can use data to strengthen themselves in the future. They want to transform business models, develop new products, react more quickly to market changes, and develop closer relationships with partners and vendors. What is your take on ensuring data availability?· To create a culture that encourages innovation, organizationsmust look to break down barriers and open the flow of information throughout an entire organization.· The potential to employ data and advanced analyticsstrategically takes on even greater importance for the leaders--they certainly see tactical opportunities, but they're even more interested in how they can use data to strengthen themselves in the future.· They want to transform business models, develop newproducts, react more quickly to market changes, and develop closer relationships with partners and vendors.. What is your advice for budding technologists in the data analytics space? How do you see the evolution few years from now with regards to disruptions and transformations within data analytics infrastructure field services?· As the Chief Analytics Officer for EY and in speaking withmany leaders in different industries, I'm finding analytics to no longer be just a technology issue, but a strategy and operational issue. Big data and analytics is a disruptive innovation that is transforming our everyday lives.· Enterprises need a holistic plan for creating competitiveadvantage, identifying opportunities and ultimately measuring value. We believe that there is tremendous value to be gained by those organizations that leverage analytics to transform their business processes and how they make decisions. As a result, we are seeing the emergence of the chief analytics officer as more of a senior-level change agent, with a unique combination of skills in business, mathematics and technology ­ to work with clients to identify new opportunities.· Companies need to integrate technologies together like AI,RPA, Blockchain, etc. Start with the business issue and then work into how various technologies come together to be a part of an integrated and differentiated solution. Chris Mazzei
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