Using Advanced Analytics Capabilities to Respond to a New World of Change

Thank you for reading my latest article Using Advanced Analytics Capabilities to Respond to a New World of Change. Here at LinkedIn, Forbes and at Brainz Magazine I regularly write about data and technology trends.??

To read my future articles simply join my network here or click 'Follow'.???

---------------------------------------------------------------------------------------------------------------

Introduction

From the COVID-19 pandemic to the ongoing cybersecurity threat, it's clear that change is a constant in our world today. Change is also increasing in speed and intensity, leaving organizations facing greater risks than ever before. This means that companies need to implement advanced analytics capabilities to anticipate new business opportunities and risks so they can stay ahead of change.

Events like the COVID-19 pandemic are a stark reminder that risk and change are constant, pervasive, and accelerating.

We live in a world where risk and change are constant, pervasive and accelerating. The COVID-19 pandemic that hit the world in 2019 was a stark reminder of that. Even before this event, it was clear to leaders across industries that organizations must be able to operate quickly and flexibly in order to respond effectively to changing circumstances.

This has led many organizations to invest heavily in new technologies like artificial intelligence (AI), machine learning (ML), blockchain, Internet of Things (IoT) and cloud computing — with strong results for those who have made such investments: According to PwC’s 2019 Global Digital Transformation Survey report, “Innovative organizations that have deployed these technologies report higher operating income levels than their less innovative counterparts by almost 10%.”

With the right tools in place, analytics and change are no longer a reactive response to events but can be applied to anticipate new business opportunities and risks.

With the right tools in place, analytics and change are no longer a reactive response to events but can be applied to anticipate new business opportunities and risks. This can result in more informed decisions, better planning and execution, increased customer satisfaction and loyalty, reduced costs, higher profitability and productivity for your business.

The benefits of anticipating change are numerous:

• You'll be able to plan for it better by understanding what's coming up next on the horizon (and what hasn't even happened yet).
• You'll be able to prepare yourself or your organization for impending changes so you're not caught off guard. For example: if you know that a merger is likely coming soon with another company in your industry space (which happens all too often these days), then having some advanced analytics capabilities in place will help ensure that we're prepared as much as possible when it comes down the pipeline!

Organizations need to plan for change by implementing advanced analytics capabilities that can provide insights into what is really happening, or could happen in their businesses and industries.

Advanced analytics gives you the ability to understand what the potential impact of new technologies, business models and regulatory changes will be. It also allows you to identify where your organization may be vulnerable or at risk, so you can take action before it’s too late.

Advanced analytics is not just about big data; it’s about changing the way we work with data across all parts of an organization. With this new way of working comes new opportunities – such as building a culture focused on continuous improvement through experimentation – that allow us to respond faster than ever before when facing challenges posed by change.

Advanced analytics technologies—including artificial intelligence (AI), machine learning (ML), computer vision, natural language processing (NLP), advanced data engineering—can help organizations implement a proactive approach to managing change.

• AI is an umbrella term that describes technologies that learn over time and make predictions based on historical data. AI is trained to behave in a way that mimics human behavior by analyzing large volumes of structured and unstructured data to identify patterns and make decisions based on those patterns. For example, an AI-powered chatbot might be able to process the words typed into its text field in real time and respond to requests such as "where's the nearest coffee shop?" with relevant information about nearby coffee shops as well as their hours of operation and other relevant details about each business.
• ML refers specifically to programs capable of making predictions based on historical data using statistical modeling techniques like regression analysis or classification trees. ML models can outperform humans at certain tasks when trained properly; this includes things like voice recognition software that can transcribe speech into written text with high accuracy rates or image recognition software used by law enforcement agencies for facial recognition purposes during criminal investigations

When advanced analytics capabilities are deployed by trusted partners who have experience with AI/ML projects and seamless ways of working, organizations can focus on their core operations—growing their businesses at scale—while being able to respond quickly to changes in risk and opportunity.

Advanced analytics capabilities help you stay ahead of change. Analytics and change are no longer a reactive response to events but can be applied to anticipate new business opportunities and risks. Organizations need to plan for change by implementing advanced analytics capabilities, while trusting their partners to provide the necessary resources, skills and experience required for successful implementation.

Advanced Analytics help you stay ahead of change

Advanced analytics helps you stay ahead of change. This is what the world of business has been telling us for years and it’s a good thing to remember when considering how to respond to today’s rapidly changing environment. In order to be more efficient and effective, we need more than basic analytics; we need advanced analytics capabilities that enable us to be proactive in responding to new opportunities, as well as changes in our environment.

Advanced analytics technologies enable organizations like yours to collect data from multiple sources (social media, mobile devices, sensors) at massive scale and integrate it with traditional enterprise data sets (ERP systems). The result? A single source of truth for analysis across an organization - enabling faster detection of emerging trends and threats along with faster response times for all employees involved in the decision-making process within your organization

Conclusion

We believe advanced analytics is a key part of the solution to adapting to change. Our experience with clients has shown us that this type of approach can help companies achieve their business goals, as well as reduce risk by allowing them to anticipate what may happen next. We have also seen that when organizations deploy advanced analytics capabilities and work with trusted partners who have experience with AI/ML projects, they can focus on growing their businesses at scale while being able to respond quickly to changes in risk or opportunity.

Click here to get started on your journey to advanced analytics.

---------------------------------------------------------------------------------------------------------------About Leon Gordon?

Leon Gordon, is a leader in data analytics. A current Microsoft Data Platform MVP based in the UK and partner at Pomerol Partners. During the last decade, he has helped organizations improve their business performance, use data more intelligently, and understand the implications of new technologies such as artificial intelligence and big data.?

Leon is a Thought Leader at the Forbes Tech Council and also an Executive Contributor to Brainz Magazine, a Thought Leader in Data Science for the Global AI Hub, chair for the Microsoft Power BI – UK community group and the DataDNA data visualization community as well as an international speaker and advisor.