Go Beyond the Data: Make Better Business Decisions
Anthony Coops, Partner, KPMG in Australia, believes that organizations should invest their analytics resources in the areas that will deliver the most value, for example identifying new customers or better manage risk and costs.
It is difficult to not be mesmerized by big data. Board members, business executives, HR leads and marketing departments are spoiled for choice with the deluge of data now available.
But few organizations have yet to determine how to properly identify, protect, analyze and interpret their existing data, let alone incorporate masses of unstructured data from outside of the organization.
To make things even more complicated, the entire data and analytics market is shifting and evolving, making it difficult for executives to know where to invest their effort.
What they do know is that tomorrow's competitive advantage will be driven by the ability to quickly identify the right data, analyze it and act on it.
And it will not be enough to just collect data; they will need to correlate it and analyze it to tap hidden value in priority areas such as sales, cost reduction and risk management.