"Data-Driven Perspectives: Unraveling G20's Focus on Global Change Drivers"
Polestar Solutions & Services
Maximizing business potential with Analytics & AI
The Business 20 (B20) is the official G20 dialogue forum with the global business community. Established in 2010, it?is among the most prominent Engagement Groups in G20, with companies and business organizations as participants.??
The theme for the B20 India was R.A.I.S.E. This stands for Responsible, Accelerated, Innovative, Sustainable, Equitable Businesses. ?
The B20 leads the process of galvanizing global business leaders for their views on issues of global economic and trade governance and speaks in a single voice for the entire G20 business community.?
The priority areas that were discussed and deliberated during B20 India under seven Task Forces in the areas of:?
In alignment with?these focus areas, we are aiming?to bridge the gap between raw data to actionable insights. To illustrate the impact of Data and Analytics (D&A) on commerce, we've selected four key themes from the seven focal areas outlined in the B20 agenda. These exemplify the potential of D&A in driving growth, innovation, and ensuring prosperity for business operations."?
Digital transformation?
Data analytics fuels digital transformation by extracting valuable insights from data. It enables businesses to make data-driven decisions, streamline operations, and enhance customer experiences. Through predictive analytics, companies can anticipate trends and adapt swiftly. Automation and AI (Artificial Intelligence) integration optimize processes, while robust risk management and compliance measures ensure a secure operating environment. Continuous feedback loops drive ongoing improvement, creating a culture of innovation. In essence, data analytics empowers businesses to lead in the digital age.?
The MDM (Master Data Management) industry is set to more than double over the next five years. A new report projects it will grow from $11.3 billion (about $35 per person in the US) in 2020 to $27.9 billion (about $86 per person in the US) by 2025. Master Data Management is a set of methodologies and tools that categorize, centralize, and synchronize available data to offer you high quality retrievable and referenceable data concerned with the critical business elements such as services, products, locations, business assets and customers.?
Tech innovation and R&D?
Data analytics deeply influences tech innovation and R&D efforts. It guides businesses in market segmentation, demand forecasting, and user behavior analysis, ensuring R&D investments align with market needs.??
Through iterative prototype testing and resource optimization, businesses refine their products efficiently. Analytics also aids in risk assessment, allowing for contingency planning. It evaluates technological feasibility and informs intellectual property strategy.??
By streamlining processes and engaging with the innovation ecosystem, businesses accelerate time-to-market. Post-launch, data analytics provides critical feedback for ongoing refinement and future innovations, solidifying its role in driving transformative R&D outcomes.?
ESG (Environmental, Social, and Governance) in business?
According to a report, the market for ESG data could exceed $1.3 billion (about $4 per person in the US) this year and reach $5 billion by 2025. Around 70% of the ESG data market comprises research and analytics, including ESG ratings, raw data, and other dedicated solutions.??
Lead your way towards meeting sustainability goals?
领英推荐
Global trade and SCM (Supply Chain Management)?
Supply Chain control tower??- Coordinate across your supply chain operations and the wider supply chain by fusing together people, procedures, technological infrastructure, and data.?
Supply chain digital platform?- Unify siloed data to generate real-time, end-to-end insights and extend decision intelligence and business automation with AI-/ML-based supply chain analytics across the enterprise.
Future of Work?
The adoption of people analytics has been increasing in the recent past as companies become more inclined towards taking data-driven decisions. People analytics enables companies to consider everything – hiring, retention, attrition, headcount, employee demographics, salaries, and performance to provide actionable insights pertaining to the current HR processes.?
In order to adopt people analytics into their everyday HR function , companies can approach solution providers which bring to them customizable solutions such as;?
Conclusion?
Businesses worldwide are eyeing India as the next frontier of global growth, poised to outpace even China. The key ingredient? Data, often referred to as the 'oil' of the future. Don't miss out on this pivotal shift. Join us in our quest for data excellence and drive value for the future.?