Barton Goldenberg: "3 Data Analytics Trends Reshaping Business"



today more than 11 billion of connected devices are producing some eight Zita bytes of data per year as more connected devices get added every day this data will only continue to explode in fact by 2025 forecasts call for 80 billion devices which is a tenfold increase producing a staggering 180 zettabytes of data which is a 22% increase industry leading companies like Amazon and Google American Express Ford Capital One they're all early adopters of using data and analytics to secure their long-term competitive advantage failure to have a strong data and analytics program means that your competition will have a better understanding of their customers more effective employees and higher rates of customer acquisition retention and loyalty that's why I'm excited to share with you three data analytic trends that are impacting organizations like yours hello I'm Barton Goldberg president of is M I found that is M 34 years ago to help organizations like yours acquire retain and grow your customer base trend number one in the data and analytics world the rise of the chief developed a data officer or referred to a CD Oh in fact industry studies are showing now that currently about 60% of large enterprises have a chief data officer sometimes they call it a chief analytics officer and that figure is expected to reach 80 percent by the year 2019 through our 34 years of experience one thing is clear data analytics cannot be the sole province of any one department like the IT department or the data analytics department successful chief data officer are partnering with other c-level executives from marketing or sales or service finance information systems to determine and achieve their business strategies data analytics trend number two analytics continues to accelerate innovation and disrupt entire industries and as we know the digital disruptors at like Amazon in the book industry or uber in the taxi industry or Airbnb in the hotel industry they've changed business models and disrupted entire industries but so to have companies that have mastered their data and analytics in fact the pace of innovation and disruption of industries is accelerating and CEOs are asking themselves they're being forced to ask themselves what are the implications of data and analytics to our business model our go-to-market strategy our portfolio mix and our value proposition to the customer these companies have developed a what we call a data-driven data and analytics strategy with clear linkage to business direction business capabilities so that they can stay ahead of the market and proactively compete based on the value add that data analytics can bring to them data analytics trend number three the majority of data analytics projects however continue to fail in fact 85% of the data analytics projects fail but really for two reasons number one the failure may have nothing to do with the actual technology of data analytics but rather to do with the process and the people buy in to a data analytics program and number two few executives truly understand the impact of data across their business and various functions despite the fact that the business executives must drive an effective data analytics program I would argue that companies need to focus on where and how data can create value with measurable ROI and through a comprehensive roadmap successful data analytics programs include a focus on organizational transformation for example business process enhancement quick wins for the departments to see the value of a data analytics program data management fundamentals that are complemented by advanced analytics for more than three decades is M has helped organizations create and implement successful data analytics and customer intelligence projects we would be on it to assist you in one of three ways help you structure your programs to help business leaders in charge of data and your data analytics efforts number 2 advise your team on how to build a data-driven data and analytics strategy with clear linkage the book business direction and business strategy and number three implement a program to focus on where and how data can create value using data analytics with measurable ROI and the creation of the comprehensive roadmap click on the link on the screen to take a brief survey to help you evaluate your data analytics program as it stands today and how that compares to the gold standard and data analytics programs thank you

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