8 February 2021
8 February 2021
Monday, February 8th
Keep up-to-date with the latest data analytics news in our Monday Digest summary snippets, and get more insight to make your data talk!
? Closing the skills gap with a speedier analytics roadmap. As technology and software change rapidly, the gap in the skills required to leverage these tools accelerates. According to a global McKinsey survey, the industries most likely to feel these effects include tech, financial services and telecommunications. Yet, focusing on strategies such as embracing simplicity, self-service and automation can help narrow the gap. Read further in this Forbes article.
Display and compare dimensions in a grid format to speed up your analysis and decision making
? The benefits of shifting to predictive analytics. Decision-making in BI is often based on retrospective rather than predictive models. And, since these models often rely on averages, such as average attrition rate, it can result in incorrect decisions. Organisations shifting to predictive models, using a case-by-case roll out, can eliminate this law of averages and find it easier to replicate success. Read on in this RTInsights article.
Leveraging Vizlib Line Chart’s Linear Regression and Scenario Analysis capabilities for better planning during uncertain times
? 5 steps to increase participation in financial planning. Effective financial planning brings together the right people, processes and technology. Financial Services organisations can increase engagement in their data-driven planning by defining their strategy and increasing transparency and visibility. Explore further practical tips in this article by our partners, Decision Inc.
? Everything you need to know about graph analytics. Graph analytics examines the relationship between entities such as customers, devices or products. This growing field is particularly beneficial for problem-solving, and currently applied in fraud detection and search engines, for instance. Discover more about graph analytics in this Analytics Insight article.
? Data analytics: Added supply chain agility. Industries run on supply and demand can no longer rely on deterministic data modelling; models using historical data. To increase supply chain agility, organisations need to leverage big data and data analytics to keep ahead of giants like Amazon. See how to get started in this Supply Chain Digital article.
? And our quote of the day:
“As leaders seek to accelerate D&A roadmaps with affordable investments, these three strategies – building sustainable teams; embracing simplicity, self-service and automation; shifting away from a DIY mindset – can help organizations become data-driven, modern and competitive while substantially cutting costs and accelerating speed of execution. In a world where up to 30% of hours worked globally could be automated by 2030, it’s vital for organizations to stay ahead of the curve on a sustainable trajectory.” Shashank Garg, Co-Founder and CEO, InfoCepts.
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