Businesses, big and small, are relying on the use of ‘big data’ for managing a variety of processes and operations. Capturing masses of user data needs to be followed by structuring it and applying algorithms to derive strategic insights. The ‘Big Data’ dream today is all about prescriptive and predictive analytics. Businesses need to what data to collect, because all data may not prove actionable. Collecting the right data, discarding the waste which cannot improve one’s business processes or opportunities, using thoughtfully constructed and expertly designed analyses which assist in decision making are all essential to realize business value from big data.
We need professionals who know how to gather critical data points, how to interpret them and derive meaningful and reliable results to gain competitive advantage; instead of biased or oversimplified hypotheses.
How data can help different businesses:
Predictive analytics is about providing predictions for the future, based on applying statistical algorithms and machine-learning techniques to analyze historical data and identify the likelihood of future outcomes. Predictive analytics can help with fraud detection, risk, operations and marketing.
Prescriptive analytics uses cognitive technologies to proactively manage your processes in a number of ways. They provide data-driven metrics with built-in Natural Language Processing (NLP), and a sophisticated in-memory database and algorithm which can recommend possible next steps. Its machine learning capabilities make it more precise and reliable over time, as it keeps collecting and analyzing more data.
Data science offers the unique possibility of addressing the pain points in one’s business and to decide the changes needed to improve its competitive standing in the market. According to Dell EMC’s survey, conducted in March ‘18, into the issues around the use of data analytics, predictive analytics, and machine learning, savvy organizations are extremely keen to derive actionable insights from their data and achieve business efficiencies and improved customer satisfaction. It’s important to put a process in place to derive these expected results and we have tried to compile some of the wisdom shared by others who took this path already:
- Keep your goals in sight and never lose track, or you will just get caught up in the mechanics of setting things up and creating massive data lakes using an organization’s data
- Focus needs to be on uncovering the real value of big data to derive transformational insights and outcomes.
- Data is worthless, unless it is used by someone in context and leveraged to make real-time predictions and perform real-time analytics and to drive operational outcomes.
Data has to drive our decisions and actions, in real time, if we are to look upon it as a strategic imperative.
Prime’s expert team of business intelligence analysts, software engineers and user experience designers make it possible for you to turn your data into insights, using efficient solutions to acquire relevant data and providing you with the tools to interpret it and turn it into insights.
Prime’s cross-functional services can help you:
- Understand how data is used and consumed by your users.
- Build a roadmap for data delivery.
- Use data visualization tools to communicate with the right granularity and User Interface elements.
- Effectively access and warehouse data.
- Implement semantic layers and self-service Business Intelligence tools to inform future decisions.
- Build distributed, scalable, and reliable data pipelines that ingest, process and analyze data at scale.
- Perform analysis of large data sets using components from the Hadoop ecosystem.
- Involve in big data technologies and analytics to improve our data processing and analytics solutions.
Prime’s Data Analytics team is constantly researching analytic techniques to improve processes, operational excellence, and provide our clients with the ability to use actionable, data-driven business insights to meet their business challenges. Our in-depth domain knowledge in Big Data Analytics and Business Intelligence is backed by a network of global delivery centers. We have successfully partnered with leading organizations across multiple industries, and we can help you implement a risk-aware, enterprise-wide analytics strategy that will drive continuous performance improvements.
Whether as a onetime engagement or on-going assistance, we deploy analytics solutions in a way that is both efficient and cost-effective. Some of the distinctive Big Data techniques and services provided by us include:
- Generalization
- Classification
- Characterization
- Clustering
- Pattern Matching
- Data Visualization
Big Data can help you optimize your organization’s performance through effective coordination, improving operational efficiencies, and increasing visibility. Prime can help you to make better strategic and operational decisions with solutions that bridge the gap between end-users, Business Intelligence and IT stakeholders. Whatever the industry or enterprise, we guarantee that our implemented solutions will achieve the required results. Prime provides industry-leading experts to ensure your business intelligence needs are met in three main service areas:
- Data Acquisition
- Data Mining/OLAP
- Data Management and Architecture
Use big data to get precise answers to your hard-to-solve problems and discover new growth opportunities, you have only ever dreamed of. Ignore all repetitive and useless data to pick information which can predict outcomes to make informed decisions about policies and strategy.
