Powering Business with Analytics

Properly managing and analyzing information is necessary for companies that wish to succeed. These days data has become the heart of the digital business.

Every time people use their mobile devices or computers for transactions, banking, dealing with documents, buying, selling, or watching films, accessing entertainment sites, contacting suppliers, or buying trips, among many other things, they generate data.

Analytics transforms that data into accurate, real, and easy-to-understand language, revealing actionable insights for business decision-making.

Companies that know how to adequately take advantage of the benefits of good data analytics very much differentiate themselves from their competitors in the market and make larger profits.

Where to start

Which is the way to go? The first step is to be convinced. Companies that realize that smart data analytics represents a critical and essential investment within their business strategy will run ahead of those that only consider it another expense in the daily course of business.

It is also essential to have trained teams led by top executives with vast expertise in data management. Fortunately, the trend shows an increasing number of companies with specific areas in their structures dedicated to smart data analytics.

According to the 2023 EDM Council Global Data Management Benchmark Report, 65% of the companies have formally appointed a Data Chief Officer or Data Chief Executive in their structure, up by 5% from the previous measuring.

The same report points out that 80% of the Chief Data Officers in non-financial markets directly report to the C-Suite in the company, whereas it is 85% in the financial sector.

“In these more than 30 years as a data executive, I’ve seen the scope of responsibilities expanding considerably, especially in the last few years,” explained John Bottega, President of EDM Council.

Solutions on demand

Technology is another essential tool companies use to develop quality data analytics, positively impacting their business strategies.

Today there are numerous options, such as IA-based data management tools and comprehensive, flexible solutions that adapt to the specific needs of the companies.

One of the most powerful offerings in the market is, undoubtedly, SAP Analytics Cloud, which gives companies valuable, reliable information for their business strategy and top executive decision-making from tools using technologies such as AI, machine learning, and predictive analytics. SAP Analytics Cloud gathers analytics and planning in a single cloud solution and includes over 100 business content packages on SAP best practices, preconfigured for all business lines and industries.

There is nothing safer than turning to SAP business partners, whose teams are made up of professionals with vast expertise in the market. One of the most prestigious ones is SEIDOR, a member of United VARs, which offers data & analytics solutions such as Data Governance, Data Management, Big Data, and Advanced Analytics as part of its broad service portfolio to work with organizations toward digital transformation.

A growing tendency

Data analytics and Big Data strategies are very well developed in the United States —many companies have already incorporated them to improve their services and power their business. For example, this has been mentioned in a report by Cloudscene platform, which reveals that the United States has the largest number of data centers (2755) worldwide. Far behind come Germany (495), the United Kingdom (452), and China (443).