Analytics Driven Managed Services

In today’s world, the amount and volume of data is rising abruptly and rapidly. We see tremendous and continuous disruptions in data analytics, knowledge management, business intelligence and intelligent automation. As such, new trends like Big Data and Analytics have become very pertinent with the CXOs IT landscape modernization and rationalization agenda. As the insights-driven road-maps and strategies take shape, these will become very important source of competitive differentiation in the market. The current challenge for many enterprises is how to utilize and capitalize big data analytics and derive maximum benefits considering the technological disruptions and very light budget.

Breaking down Analytics Driven Decision Making

Analytics refers to the discovery and communication of relevant insights from data. We understand that data-driven decision making emphasize upon quantitative aspects of data: number crunching and proper data processing to come up with results based upon numbers as the underlying facts.

Now, analytics driven decisions takes data-driven decision making to the next step, into the domain of qualitative analysis. This allows for the integration of quantitative and qualitative data and hence another layer of insights gets added which allows for one more layer of consideration and results in showing various data-points which influence the decision making process.

Consider an example, using analytics driven decision making, CXOs can not only focus on which IT lever is causing the main problem, but they can also get insights on what can be done to prevent and predict it before occurring, so that proactive measures can be taken and the business sees no down-time. By concentrating on analytics driven decision-making, enterprises can focus upon important questions of What and Why. It implies that decision-makers can see an overall view of what is happening and why is it happening along with how it can be prevented. It can have an immediate business impact in terms of accurate measurement of key metrics and costs efficiencies.

How to become Analytics Driven?

The key to launching analytics at a corporate level starts with utilizing the right tools and proper training on these tools. For enterprises, which want to leverage the power of analytics into their business domains, experts and tools, customized to their needs is the starting point. For many enterprises, it is logical to assume that this is not their core competency and hence they need external consulting to find ways to integrate business intelligence, revamp performance management, risk mitigation, compliance and governance mechanisms.

Therefore, the important decisions with the CXOs is that before pondering over capitalizing on Analytics, they must have a strategic road-map regarding governance models at information, technological and project levels. This shall ensure alignment of analytics with the core business objectives. This is also necessary to integrate new technologies into existing IT landscape resulting in maximum value derivation to the enterprises.