Big data and analytics have grown significantly over the past decade and companies are increasingly integrating them into their systems. While some view big data with skepticism, others have found success in using data to power decisions. To fully utilize big data, companies must identify and combine multiple data sources, build advanced analytics models, and transform their organizations to leverage the data models for better decisions. The types of data available have expanded vastly in recent years, so companies must carefully select data sources that can help solve business problems. Legacy systems may initially limit data usage, but integrating new technologies gradually can help companies develop predictive models and analytics capabilities to optimize outcomes.

1. Advanced Analytics
ARTICLE BY DOMINIC BARTON AND DAVID COURT
JANUARY 2018 PREPARED BY: ANSHUMAN RAINA
Work for You
MAKING

2. WHAT'S HAPPENING NOW
Big Data and Analytics have
skyrocketed over the past decade
and now increasingly, companies
are integrating it into their System.
The Recent successes of companies
like Google and Amazon have
garnered widespread applause from
Executives around the Globe.

3. DATA
BOOM GOES THE
Big Data thus, is seeing an unprecedented expenditure
investment by technology leaders like IBM and
Hewlett-Packard.
This triggering in companies with such widespread changes
was last seen in 1990s, when organizations redesigned
their core processes.

4. Even though many organizations have
pioneered for this change, some view it with
Skepticism and compare its likeness to what
happened with CRM Systems, which led to a
huge uproar and hype with too less a future as
well as huge losses.
Nevertheless, we believe that the time has
come to define a pragmatic approach to big
data and advanced analytics—one tightly
focused on how to use the data to make better
decisions.

5. FULLY EXPLORING BIG
DATA REQUIRES THREE
MUTUALLY SUPPORTIVE
STEPS:
1. COMPANIES MUST BE ABLE
TO IDENTIFY, COMBINE, AND
MANAGE MULTIPLE SOURCES
OF DATA.
THEY NEED THE CAPABILITY
TO BUILD ADVANCED
ANALYTICS MODELS FOR
PREDICTING OUTCOMES
MANAGEMENT SHOULD TAKE UP
TO TRANSFORM THE
ORGANIZATION SO THAT THE
DATA MODELS ACTUALLY YIELD
BETTER DECISIONS

6. THE RIGHT DATA
CHOOSING

7. The universe of data has changed
vastly over the past few years.
The ability to see what was
previously invisible improves
operations, customer experiences,
and strategy.
But mastering that environment
means finding deliberate ways to
identify usable data you already
have, and exploring sources of
information.

8. SOURCE DATA CREATIVELY.
Often companies already have the data they need
to tackle business problems.
But managers simply don’t know how the
information can be used for key decisions.
Companies can impel a more comprehensive look at
information sources by being specific about
business problems they want to solve .
For Example: In a TED Talk , the speaker noticed
that TED was an independent data set in itself and
analyzed it so as to give The "Ultimate" TED Talk.

9. IT SUPPORT
GET THE NECESSARY
Legacy IT structures may hinder new types of data
sourcing, storage, and analysis.
But Slowly and Steadily integrating technology to
equipment can be successful.
This process will be time and cost dependent, but
the technology required for analysis and
visualization is a one time investment needing
constant upgradation.

10. BUSINESS
OUTCOMES
BUILDING MODELS THAT PREDICT AND OPTIMIZE

11. C O M P A N I E S S H O U L D A S K
HYPOTHESIS-LED
MODELING
“ W h a t ’ s t h e l e a s t c o m p l e x
m o d e l t h a t w o u l d i m p r o v e o u r
p e r f o r m a n c e ? ”
PRACTICAL DATA
RELATIONSHIPS

12. Transform Your
COMPANY’S
CAPABILITIES

13. UPGRADING THE
ORGANIZATION
Develop business-relevant analytics that can be put to use.
Embed analytics into simple tools for the front lines.
Develop capabilities to exploit big data.

14. IN CONCLUSION
The era of big data is evolving rapidly, and companies
should decide whether to act or not.
But rather than changing drastically, slow yet simple
changes should be integrated at first. Clear, short-sighted
goals should be targeted till the time everyone becomes
comfortable
The transition should be slow and steady so as to give
everyone a time to adapt.
As more companies learn the core skills of using big data,
analyzing customer needs may soon become an essential
and decisive competitive asset.

15. You!
Thank
IT'S BEEN FUN