Analytics Is The Key To Smarter, Faster Decision Making
By now, many businesses are realizing that timely, relevant, and actionable data is the key to a successful digital transformation. Leaders agree that big data analytics holds the key to their future, potentially changing the way their company does business over the next three years. Many are currently implementing or have plans to initiate projects to generate greater value from existing data within the next year. However, many are still finding it hard to improve data management and analytics practices to fully unleash the power of big data.
The pace of business is only accelerating and the challenge to capture, process, and analyze growing volumes of data is becoming increasingly harder. Traditional manual processes no longer hold up. In addition, other pain points with unstructured data, data access, and analysis present major challenges. The inability to effectively find and govern data can have a debilitating effect on any business. Fragmented data impedes real-time insights, puts business decision making at risk, and ultimately endangers successful data-driven digital transformation.
Those who are serious about their data-driven business are laying a foundation for the next phase of big data: intelligent data management, which leverages machine learning and other artificial intelligence techniques to accelerate core data management and governance processes. A critical step to intelligent data management is integrating data sources and curating the data in a manner that is repeatable and scalable to support data-driven business.
Leveraging emerging technologies such as machine learning helps improve what has largely been a manual, time-consuming process. While machine learning capabilities don’t supplant data analysts and other data management experts, the technology will make them significantly more productive, by teaching standard tools to make intelligent recommendations and to automate data management tasks. This is a crucial step toward handling big data at scale and for accelerating delivery of data-driven insights. Machine learning, as part of a big data program, can help automate tasks that are impossible to do at human scale, including creating data quality rules, anomaly detection and notification, bursting to handle spikes, and self-healing operations.
Big data analytics is transformational for companies, and artificial intelligence techniques can deliver just the right boost to data management and governance practices to help cement a competitive edge. With help on getting started, contact SPIN today!
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