Recent research reveals that digital business initiatives benefit businesses in numerous ways. No matter your market, industry or business size, digital transformation (Dx) is important to results, competitive positioning and productivity.
If your business is considering an advanced analytics solution, your IT and management team has probably already done some research and concluded that the concept of augmented analytics designed to support business users is the right way to go. To democratize data, improve data literacy and transition business users to the Citizen Data Scientist role, the business must select the right solution and plan for success.
Digital Transformation (Dx) isn’t just the flavor of the month or a buzz term circulating in the business community. It is a reality and a crucial component of business success. One might ask what all the fuss is about. Technology consulting firm, Gartner predicts that, ‘Through 2024, 50% of organizations will adopt modern data quality solutions to better support their digital business initiatives.’
Gartner predicts that ‘… augmented analytics will be ubiquitous, but only 10% of users will use it to its full potential.’ One of the primary reasons that augmented analytics is not adopted and leveraged to its full capacity is that the business chooses a solution that is not easy enough for team members to adopt – one that is restrictive, inaccessible or requires sophisticated skills.
In a recent survey conducted by Deloitte Consulting with Scottsdale Institute, technology health care professionals reported, ‘ leadership (80%) and management of implementation (68%) to be the key accelerators of digital transformation, and culture (60%), communication ownership, and transparency (48%) the key barriers.’
According to a recent report published by a financial research firm, the top reason for implementing a Digital Transformation (Dx) strategy (and the top benefit from said strategy) is to improve operational efficiency. 40% of those businesses surveyed said that operational efficiency was a primary driving factor.
What matters most in your business? Don’t say everything, because there is no way you can place strategic focus on every aspect of the business and, although all of your goals and objectives should be aligned, there are, in fact, a smaller number of things hidden within your business that will impact your success if they are not attended to and that will give you the most benefit if you spend a bit more time organizing and planning activities and business processes around these things.
When choosing a BI tool and augmented analytics solution for your business, one of the most crucial concerns is the features and functionality of the prospective solution and how this solution will meet user and organizational needs. It is important to remember that there are also specific features a business should consider, like embedded BI and easy-to-employ Integration APIs, that will assure user adoption and appropriate ROI and TCO.
When a business considers business intelligence and augmented analytics initiatives, it should include Embedded BI and Integration APIs to improve ROI, TCO and user adoption. If an enterprise does not understand the risks of data silos, and restrictive analytics solutions, it is not likely to make the right choices. With appropriate planning and execution, businesses can create a solid foundation, and provide benefits for all users, managers and IT staff.
Every business owner and manager understands the problem of limited resources. Today, you have fewer team members and you must do more to compete in the market. To enhance productivity and collaboration and ensure that every team member is making better decisions, it is wise to implement augmented analytics within your organization.
