Should Businesses Invest In Data Analytics?
The inevitable growth of data has took over the technology of data analytics with continuous development in it’s tools and solution. Thanks to technologies like IOT and others, not only has data enhanced in numbers but also in quality over the time. It has been observed that in a day around 6 billion searches are made and more that 300 mails are sent. Also, Facebook creates 4PB of data every day and even a single connected car produces 4TB data per day. Moreover, the numbers don’t end here. It is expected that in the coming years roughly around 463EB of data will be generated every day.
Investments in massive computing cluster have increased post rapid advancement in Machine Learning in context to analytics.
A study by SAS has revealed that data analytics has helped 72 percent companies develop valuable insights in their businesses and has made more than 50 percent of the companies more innovative.
More and more business leaders are investing in this technology to generate higher revenues, transform the competitive landscape while entering new markets, change relationship with customers and accelerate efficiency.
Customer relationship through digitized interaction provides a plethora of information for marketing, sales and product development. With the boon of data analytics in customer relationship management genre, it becomes easy to architect new systems from the base than it is to recondition existing ones.
The capability to benefit from data analytics in terms of ROI is profound. As AI has developed itself up to a level of bleeding edge of customer insight and experience, it also proves that investment in data analytics is now extremely critical on no-negotiable terms.