These are exciting, yet challenging, times for business. The growth of data has been well reported. Team that with the requisite computing power – also known as advanced analytics – and the opportunities are immense.
However, while businesses of all sizes and sectors stand to benefit, many will face barriers to adoption. Our research with Forrester Consulting showed how businesses are struggling with ageold problems, such as an inability to generate a single customer view or maintain data quality. Then there are new challenges, such as the difficulty in aggregating new data and extracting the relevant insight from it.
Competition is a contributing factor too. In this volatile environment, businesses are racing to take market share but neglecting to support their decision making and business aspirations with the right data and insights.
Many business leaders realise that growth is reliant on agility – the ability to move at the speed of their market or faster. To be successful, you need to be able to spot and adapt to new opportunities, as soon as they emerge. You need access to as large a data universe as possible, plus the analytical power to extract relevant insights. All while continually acting to best serve your customers.
In this paper we look at how to navigate around these challenges. How to build a customer-first environment that will help you retain business, gain new customers and better manage risk. It’s time to put theory into practice.
Explored in this paper:
- A new breed of disrupter
- From big data to small data
- The skills gap
- The technological revolution
- Innovation through data and analytics
- Building an adaptable framework
- Seizing opportunity
- Solving barriers to adoption