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From Data To Decision: Why companies fail to benefit from such a long journey

Can you name that one big challenge that businesses which have deployed data analytics face? It’s not failure to get qualified data scientists or IT professionals, nor is it finding the right analytical tools. The problem confounding companies is – how to implement actionable insights derived from analytics. For businesses that have started deploying analytics, the journey starts with data, moves on to its collection, analysis and visualization, finally ending in a decision that has to be then implemented. Yet, like a decathlon athlete who fails to clear that last hurdle, many companies falter at the last mile.

Why data governance is important and why organizations fail at it

So far as organizational strategy goes, the one that has been in focus of late is data governance. Ever since data analytics as a technology and technique was added as a major weapon to an Enterprise’s competitive armory, governance of the data, too, has gained importance. Yet, many Enterprises are found to be faltering on this front. There are surveys in the past that have shown that about 80 per cent

How menu engineering can push up a restaurant’s profits

In the first part of this blog post, we had read about how data analytics is being used by restaurants and fast food chains in customer segmentation. Today, we will look at how analysis helps to build, or rather, re-build a restaurant’s menu. That’s right. Analytics can play a big role in not only determining a menu but also working “behind the scenes” and improving kitchen efficiency. One of the oft-quoted examples

Chatbots and customer analytics

As we did read in the first part of this blog post, the chatbot space is relatively new. Not all bots are equal, and not many are configured around Artificial Intelligence (AI) yet. But that’s gonna change real quick. Remember, bots are built with a purpose. For now, there are two types of chatbots out there – one built with limited programming for a limited purpose, and the other with AI,

Embedded analytics – empowering the masses

A business is a combination of various processes. Improvement in that business will happen when all the processes are harmonized. Co-ordination is needed not only between various departments and their leads, but even the employees lower down the rank. This harmonization does not happen by chance but by design. Employees at all levels, and not only those in the core team, need to be empowered. And in today’s increasingly competitive world,

Key to successful deployment of data analytics in retail

Today, on these pages, we are going to discuss an issue that, over the years, has come to play a leading role in the business of retail – data analytics. The immediate reason for this post is a special report – The Fine Art of Analytics – released by Boston Retail Partners, that speaks of problems yet to be addressed by those retailers who have gone ahead and implemented analytics in

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