THE POWER OF BUSINESS ANALYTICS
Businesses face many challenges: a
tough economy; competitive pressures; providing superior product
quality and customer experience while keeping operational costs
at a minimum. Beyond that, most businesses struggle to seize the
opportunities before them, including: acquiring, growing,
retaining, and, at times, reacquiring good, profitable
customers.
In a constrained business
environment, it is difficult to understand what steps can be
taken to increase sales, reduce costs, and keep customers and
employees satisfied. Traditional methods can only go so far.
Fortunately, there are innovative methods, such as Business
Analytics, that unearth dramatically insightful understanding of
markets, customers, marketing, and business processes.
Business Analytics is the science
of understanding past performance and using that knowledge and
insight to predict and optimize future business outcomes.
Business Analytics are a powerful tool to create a profound
competitive business advantage. The value of Business Analytics
is quantifiable. There are many case study examples that have
shown a return on investment (ROI) ranging from 55% (customer
analytics) to 145% (predictive analytics) to 277% (financial
management). The biggest ROI comes when organizations make
strategic use of analytics that predict and optimize future
business outcomes.
This ROI is not lost on business
leadership. More than 80% of CEO’s and CIO’s believe that
business analytics are essential to their business’s
competitiveness going forward. At the same time, only 20% of CEO’s see that business analytics are integral across their
organizations. For most mid-market businesses, the use of
business analytics, especially predictive and optimization
analytics, is limited. This gap offers those who pursue a
business analytics strategy now the opportunity for a profound
competitive advantage. Even though most business perform some
measure of data analysis to support key decision-making, it is
fair to say that the vast majority of businesses are not using
analytics to their competitive advantage.

So what are the impediments to an
organizations’ adoption of Business Analytics? Analytic insight
traditionally comes with a pretty heavy price tag. This includes
the expertise, time, and resources required for the acquisition
of hardware, software, data, and the people to manage the
systems and execute the analysis. The traditional approach to
adopting business analytics is complex, costly, very time
consuming and slow to deliver meaningful return on investment.
At RedGiant, we remove most of the
impediments to Business Analytics adoption. Our cloud-based delivery models greatly remove the cost and complexity via
hosted technology and analytics coupled with a best-in-class
analytical services team. If our clients prefer, we can also
deploy our analytic solutions in the form of an appliance at the
customer’s site and still leverage significant savings in
complexity, time, and cost. |