Category: advanced analytics

Covid 19 has upended all traditional business models and made years of carefully curated data and forecasting practically irrelevant. With the world on its head, consumers can’t be expected to behave the same way they did 9 months ago, and we’ve witnessed major shifts in how and where people and businesses are spending their money. This new normal— the “novel economy,” as many have dubbed it—requires business leaders to think on their feet and adjust course quickly while managing the economic impact of lockdowns, consumer fear, and continual uncertainty. The decisions they make today will affect their company’s trajectory for years to come, so it is more important than ever to be empowered to make informed business decisions.

In recent years, organizations across industries have started to implement advanced analytics programs at a record pace, drawn by the allure of increased efficiency and earnings. According to McKinsey, these technologies are expected to offer between $9.5 and $15.4 trillion in annual economic value when properly implemented. However, most organizations struggle to overcome cultural and organizational hurdles, such as adopting agile delivery methods or strong data practices. In other words, adopting advanced analytics programs is happening across the board, but successful implementation takes a long time.