Becoming a Data-Driven Organization: Hidden Potential and Challenges

Data is a business gold mine for organizations, yet many companies struggle to unlock its complete potential. Through data, organizations can gain a better understanding of their operations and customers. Acting on the data to make informed business decisions is not necessarily a straightforward process. A data-driven organization can glean deep insights from data to update internal processes and respond directly to market feedback and improve their customer relationships. A data-driven organization can also leverage data to identify to create value for their consumers.

Statista predicts that by 2022, the big data and analytics market will reach 274 billion dollars. Organizations are playing a vital role in the exponential growth of data by utilizing Big Data technologies for analytics to become data-driven. In this article, we will explore how organizations can benefit from data and what challenges they face in the process. 

Smarter Analytics Dashboards With Automation and Machine Learning

Like any other tool in software, analytics dashboards are abstractions. They allow data scientists, analysts, developers, and statisticians to make it as easy as possible for non-experts and peers to gain insights from data. This allows everyone to collect important data and business intelligence without having to put in the additional effort usually required for collecting those insights in the first place.

For those, like me, without a strong understanding of statistics, this means not having to pour over a textbook for a few months just to figure out if a trend is significant or not. For others, this means not having to repeat the same process of collection, processing, cleaning, and analysis to acquire the same insights.