Analytics, the Need of the hourMarch 2, 2016
By Arun Upadhyay.
Apps and self-service
With the continued growth in data and the consumerisation of IT, everyone will have the need for business analytics in order to make smarter decisions. Everyone is a decision maker in one way or another in their role within a company. They should have access to data essential to their jobs, with the ability to analyze and make decisions based on data insights to drive productivity.
Today business intelligence (BI) has a less than 30% adoption rate in the enterprise (source: Gartner). Unfortunately, it is still the domain of professional analysts, with business analyst training, who use complex tools and spend most of their time analyzing data, and managers who view reports and dashboards. Often, the remainder of operational employees still do not have direct access to information to help them make better decisions. A key step in ensuring a high adoption rate is realizing that ‘one size’ does not fit all when it comes to BI and analytics. It is critical that various users are served by the right approach – analysts with tools, front line workers with handy apps.
The digital skills gap
Despite the benefits of driving BI and analytics use across an organization, the role of the analyst and data scientist is still of great importance. There is high demand for these roles but unfortunately not the supply to meet it, leading to a world-wide digital skills gap.
Data warehouse decline
Data warehouses used to be a centerpiece of analytical architecture, but they’re increasingly just another data source that gets used for analytics or operations. With an increased emphasis on Big Data stores, the structured data warehouse is becoming more difficult to justify. That said, there’s still a strong need in some areas for data that’s clean, reconciled across multiple domains, and structured for rapid analytics. The warehouse isn’t going away, but it’s going to be more important than ever to have a very strong business case to justify it.
Future of Analytics
Analytics industry and its usage is increasing by leaps and bounds and there is huge shortfall of Analytics skillset across domains. Those days are not for when every area of life will have some implementation of Analytics. For Businesses it would be difficult to survive without a powerful Analytics implementation.
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