Data Analytics Industry Top 6 Stories Of The Week
Minority Report – like technology at your doorstep? It may be in its infancy, but data analytics is getting into position, ready to transform society. Don’t worry – we are not at the stage where machines will take over just yet. However, data analytics is getting smarter and it’s driving our next moves. Even though it seems the hype around data analytics has settled down, business leaders are well aware of its power and are putting it to good use. Read on to discover other ways data analytics is making news this week.
1. 6 Observations From A New Survey On The State Of Big Data Analytics
By Gil Press, published on Forbes
Big data analytics implementations worth pursuing
Big data analytics implementations are faring well, according to a new survey released by Forbes Insights, Teradata and McKinsey. The collaboration reveals that while the hype about big data implementations has passed, it’s still here and performing well. Big data success depends on one key component: an organizational structure that’s conducive to support it. Another critical factor involves CEOs: Those that support it drive big data’s success. The challenge of figuring out big data analytics implementation mysteries is well worth the effort, as experts are likening its possibilities to the Gold Rush era. I don’t know about you, but we’re flush with excitement.
2. 9 Tips for Awesome Data Analytics
By Ann All, published on enterprise APPS today
Data analytics: a recipe for success
Saying you want analytics to be a central driver of your business strategy is one thing; actually making it a strong force is another. The disparity between the two often involves making adjustments to business processes to leverage analytics. Perhaps surprisingly, the problem is not with the technology. Senior Software Engineer at Credit Karma advises organizations to ask good questions, leverage analytics to improve processes, secure a firm analytics infrastructure, adopt analytics early on in the process, and employ a leader for data initiatives, among others – the keys to putting analytics at the center of a productive strategy.
3. How Data Analytics Helps Managers be More Effective
By Sharon Florentine, published on CIO
How to harness data analytics for making better business decisions
Data isn’t just for directing marketing or sales force initiatives. Organizations can harness the power of data to hire top talent, retain their best employees, and diversify the organization – key factors that also help to drive the organization’s success. Big data and analytics that inform succession planning, leadership development, and career progression help organizations compete in a dynamic marketplace.
4. The End of Big Data?
Published on ITWeb Business Intelligence
Could it finally be true?
If there’s one mantra Pharma (and other industries) keep on making, it’s the end of big data as we know it. While a Capgemini Consulting survey reports that less than 10 percent of respondents were “fully satisfied” with big data initiative results, other reports show that big data spending continues to increase. Yes, perhaps it’s time that the era of big data ends, as organizations can finally make good on its promise for management to use the data to make better business decisions. A move that ultimately drives innovation, with the right BI tools, organizations will effectively deliver the goods, delivering actionable insights in a sea of worthy data.
5. Data Visualizations: 11 Ways To Bring Analytics To Life
By Lisa Morgan, published on InformationWeek
Dull analytics? Tips for revitalizing your data visualization
Interactive data visualization is capitalizing on the economics of supply and demand. Users are increasingly wanting more from data visualization, driving providers to get innovative with the presentation of complex data. Bringing analytics to life through effective data visualization involves following guidelines such as keeping the presentation simple (avoiding unnecessary clutter); providing context; facilitating self-serve visualization options; offering mobile access; and preparing for even more access to data as the Internet of Things grows, among others.
6. Minority Report Could One Day be Real, Thanks to Big Data and Predictive Analytics [Q&A]
By Wayne Williams, published on betanews
The future is now
When the movie Minority Report was released it was difficult for anyone to take the technology seriously, let alone foresee a future where it was actually a reality. But now, with the quintillion bytes of data generated every day, that fictional idea looks more and more real. In particular, predictive analytics holds much promise for delivering Minority Report-like actionability. For instance, instead of gauging call center customer satisfaction based on outdated metrics, big data could analyze factors like tone of voice on calls to generate more precise reporting. And that’s just the beginning. We’re on the verge of the next level – prescriptive analytics, which doesn’t just predict behavior. It will automatically suggest next steps or offer recommendations to change behaviors or outcomes.