This year, enterprises are expected to make more use of business intelligence (BI) tools for actionable analytics that drive success. By using real-time data, firms are more likely to make informed, timely decisions that elicit a more immediate, positive response from consumers and ensure that the brand maintains constant relevancy.
According to recent Gartner research, while BI and analytics continue to be a top investment priority, only 30 percent of enterprises actually adopt analytic tools. The firm explained that an increasing volume of data from new channels and a decrease in database experts and time for business decisions has demanded real-time intelligence systems for optimal efficiency. Rita Sallam, research vice president and analyst at Gartner, elaborated on how the decision-making process has become increasingly complex with big data.
“In the face of accelerating business processes and a myriad of distractions, real-time operational intelligence systems are moving from ‘nice to have’ to ‘must have for survival,’ ” she asserted. “The more pervasively analytics can be deployed to business users, customers and consumers, the greater the impact will be in real time on business activities, competitiveness, innovation and productivity.”
Data accessibility fuels BI
In order to derive actionable analytics from overwhelming volumes of information, enterprises can utilize database administration services to make data more transparent and digestible. Gartner further asserted that having a user-friendly interface for exploring data within embedded analytic applications makes the process of acting on analytics more natural. Melissa Parrish explained in Destination CRM how new channels for interaction and associated data from these platforms has revolutionized enterprise-to-client relationships.
“People are now connected to each other, to places, to things and to brands more often, and from more locations than ever before,” she stated. “And that evolution is changing more than just the frequency with which we turn to devices: It’s changing how we perceive the concept of connectivity.”
Business executives are becoming increasingly reliant on these devices to provide consumer insight, particularly as analytics move closer to real-time capabilities. According to Gartner, analytic systems are shifting toward an emphasis on correlation between structured and unstructured data for a greater impact. Identifying business opportunities from BI tools comes from making analytic systems context-aware in relation to specific objectives, and highly accessible. Actionable analytics empower businesses to be more proactive in responding to events and behaviors at the right time, in the right place and with the right tactics.
RDX’s business intelligence and big data experts assist customers in leveraging data contained in large data stores. For more information, please visit our Business Intelligence and Predictive Analytics pages or contact us.