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April 2016, Volume 4, Number 2

Analytics initiative success can turn on quality of data

It may go without saying that data analytics has become a buzz phrase in IT. From human resources to supply chain management, from marketing to finance, analytics has become a key tool in these departments' business decision making. Companies today know that, without this data insight, they will fall behind. Data analytics enables companies to arm themselves with data to reduce costs, boost sales and make operations more efficient. They may also use analytics to predict future events. While previously executives may have based decision making on gut, instinct or tradition, today they ask, "What do the numbers tell us?" From this question, data can tell companies quite a bit about their customers and operations. Analytics may indicate how many calls a salesperson has to make before getting an interested prospect to review services or whether a certain product might take off in a few months. But analytics is useless if the quality of data is poor. The challenges of data-driven companies Companies are benefitting from data-driven ...

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