Key trends for digital transformation of European industry - Big data analytics

Data is a foundational component of digital transformation. To realize data’s full potential, some businesses are adopting new governance approaches, multi-tiered data usage and management models, and innovative delivery methods to enable repeatable results and scale. Indeed, they are treating data analysis as a strategic discipline and investing in industrial-grade analytics.

Big data analytics is the application of advanced analytics to high volumes of data, often from a high variety of sources, performed at high velocity to uncover hidden patterns, unknown correlations and other useful information. Its main purpose is to enable organizations to make better decisions, such as those enabling more effective policy management.

With digital data sources growing in number and complexity, big data continues to get bigger. Analytics remains the key to turn big data actionable and to simplify complex structures bringing new opportunities for the business. The use of big data analytics can help business to take better and more precise decisions, drive new strategies, better understand the environment, improve and streamline existing processes.