Why guess at the cause of your business results? Whether you are seeing positive or negative results, it is still important to understand the ‘why.’ Without this information, you cannot adapt and adjust to improve declining results, OR repeat and improve those great results you are experiencing.
When an enterprise undertakes an Augmented Analytics project, it is typically doing so because it wishes to initiate data democratization, improve data literacy among its team members and create Citizen Data Scientists. The organization looks for a solution that is easy enough for its business users and intuitive enough to produce clear results; one that also provides sophisticated functionality and features and will produce a suitable Return on Investment (ROI) and Total Cost of Ownership (TCO).
No matter the reason or the goal, when an enterprise chooses the right Augmented Analytics solution and carefully plans for and executes its implementation, it can optimize business results, reduce expenses and improve its market position, customer satisfaction and user adoption, and it is key to transforming business users to Citizen Data Scientists to improve results and team skills. Here, we examine the benefits of Augmented Analytics and how to plan and successfully execute an Augmented Analytics initiative.
There are many business issues surrounding the use of data to make decisions. One such issue is the inability of an organization to gather and analyze data. These enterprises will typically focus on building a team of data scientists or business analysts to help with this task OR they might take on an augmented analytics initiative to provide access to data and analytics for their business users. This is where businesses will often face a second issue; namely that the analytics solution they choose is not designed to easily and quickly provide insight into data and to ensure data quality.
Nothing…and I DO mean NOTHING…is more prominent in technology buzz today than Artificial Intelligence (AI). The use of Generative AI, LLM and products such as ChatGPT capabilities has been applied to all kinds of industries, from publishing and research to targeted marketing and healthcare. Gartner recently estimated that the market for AI software will be nearly $134.8 billion, with the market growing by 31.1% in next several years. In a recent survey of C-suite executives, 80% of said they believe AI will transform their organizations, and 64% said it is the most transformational technology in a generation.
Whether you are a business owner, a business executive or a business manager, or you just like to keep up with industry trends, you no doubt have read about the transition of business users to Citizen Data Scientists. The topic has been in industry journals and publications for years, and it is still relevant today.
Gartner has predicted that, ‘30% of organizations will harness the collective intelligence of their analytics communities, outperforming competitors that rely solely on centralized analytics or self-service.’ What does this mean for business Citizen Data Scientist initiatives? It does NOT mean that the organization should turn away from this type of initiative. What it DOES mean is that a business should recognize the value and purpose of each aspect of its analytical community.
Technology research and consulting firm, Gartner, predicts that, ‘By 2023, data literacy will become an explicit and necessary driver of business value, demonstrated by its formal inclusion in over 80% of data and analytics strategies and change management programs.’
If your business is considering a Digital Transformation initiative, it may be mired in questions about the value vs. the cost and time to make this change. While it is true that a Digital Transformation initiative takes some effort, there are numerous long-term benefits to this effort. In this article, we explore four of the benefits of Digital Transformation, in hopes of helping your organization articulate and affirm the advantages to make a decision that is right for your enterprise.
Business users are business professionals who have expertise in an industry or market arena or perform a function to support the ongoing operation of the business – professionals who may be front line workers on a production line, finance professionals, sales representatives, non-profit office workers, medical researchers, middle managers, regional managers for retail chains, transportation dispatchers or…well, you get the idea. These team members know their job and they do it well. But, they probably don’t have the technical skills to write a SQL query, or to filter out the columns and fields for an analytical search in order to get the results they need to make a decision.
