Data Does Wonders to Boost Business Performance
Organizations big and small have turned to data analytics, AI, and automation systems to save costs and boost business performance. Organizations have implemented big data analytics infrastructure to improve business processes, reduce system downtime, and maximize productivity.
Big data analytics allow market trend spotting, predicting consumer preference, understanding customer behavior, and creating new value for data-savvy organizations.
However, the data and AI maturity and capabilities of organizations vary.
In the near future, mature data-driven organizations that make full use of their data will reap big benefits while laggard companies will have to pay the price for falling behind.
A recent report What Is Your Data Really Worth published by Splunk shows...
Seventy-two percent believe that there’s an opportunity to boost manufacturing productivity with analytics, such as by using telemetry data from production systems to predict the need for preventative maintenance and reduce downtime.
The world is waiting for those who can transform the opportunities they present into business success.
Data volumes are increasing exponentially from multiple sources and will continue to grow.
Regardless of the size of your organization, start collecting, organizing, integrating, and analyzing your business data to make data-driven decisions.
Global telecommunication companies reported huge cost savings by AI system implementations according to a report produced by Splunk. This is because they largely enabled AI-powered systems to take action without any human interaction, completely removing manual, human decisions from workflows.
However, many digital transformations do not lead to improved business performance.
Many digital transformation initiatives fail due to organizations’ failure to invest in the most overlooked asset— human capital.
Human capital management should not be overlooked to achieve such innovation and stay ahead of the innovation curve.
With the right talent in place, you will be sure to uncover gems from your data and unlock business opportunities. Without a strong team of data and AI innovators, the future may appear gloomy.
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