Business Analytics: Shifting Hindsight to Insight and Foresight
Highlights from a study conducted by Deloitte on business analytics usage.
When it comes to deploying advanced analytics within the context of a business, there are two consistent hurdles that need to be dealt with. The first is the general shortage of analyst talent in the world, while the second is finding some way to deliver the results of the analysis in a way that is timely enough to make the information actionable.
To address these twin issues, Nuevora has created an analytics service that combines a software-as-a-service (SaaS) platform that will soon be combined with a global outsourcing capability that gives customers ready access to a pool of analysts that deliver relevant information in a timely manner as a service.
According to Nuevora CEO Phani Nagarjuna, we're about to witness a major revolution in the way analytics is delivered to business users. Instead of thinking about analytics as a discrete project, analytics will be delivered as a continuous process that provides actionable intelligence in real time. In the case of Nuevora, that model is being applied first to a service that analyzes customer churn and profitability. But over the next few months there will be a major tectonic shift in how analytics of all types are delivered as a service to the business, said Nagarjuna.
There is no substitute for human expertise when it comes to advanced analytics. But Nagarjuna says there is no reason that a company should limit their access to that expertise to a particular geography. At the same time, there are whole classes of analytics functions that can easily be delivered as an automated service using a SaaS platform. Nuevora's goal is to combine SaaS and outsourcing to change the way people think about taking advantage of advanced analytics, said Nagarjuna.
There is no doubt that business' interest in analytics of all kinds is increasing at a rapid rate. The real challenge right now isn't so much explaining the value of that analytics as it is finding ways to simply make it much more accessible.