The fourth industrial revolution, or Industry 4.0 as it’s been coined, is destined to continue to do more with automation and data exchange. The International Data Corporation (IDC) predict that by 2020, we will be generating 44 trillion gigabytes of data every single year. It shows absolutely no signs of slowing down. Advanced analytics provides a way of transforming structured and unstructured data into valuable insights that can be used for business processes, purchasing products/services or improving customer service.
Microsoft candidly describe data as “only ones and zeros until you turn it into insights that provide tangible business impact.” Advanced analytics presents a huge opportunity for organisations to harness this data and power them to gain views into their business that was previously unknown. Companies backing the emergence of data are estimated to earn $100m more in operating profits per year, than those who do not, according to Keystone Strategy.
Cortana Intelligence Suite is a new way of helping business to maximise their connection to datasets of all shapes and sizes. It allows you to gain a deeper insight that can lead you to a timelier business decisions. So too can machine learning, which will enable your systems to use the results of computer interactions to provide improved targeting, rewards and incentives to drive up your customers’ total lifetime value.
Advanced analytics can help to create a real strategic and competitive advantage for your business. The insights provided by advanced analytics can help to restructure strategic assets and develop innovative new services/product. Data analytics can open a world of previously hidden analytics and insights, all of which are designed to help business leverage and anticipate changes in their core markets – keeping one step ahead of the game.
Being able to provide a personalised experience for customers is critical for retailers to succeed. It can be fuelled by advanced analytics which can easily forecast, demand, optimize availability and enable seamless customer service. This is something we’re pushing and trying to positively affect the market with our Akin application. From a high-end, Akin is a revolutionary new customer experience platform which leverages cloud technology. Akin utilises a public facing customer mobile application to dramatically change the way brands interact with their customers. As far as personalization and making use of analytics goes, Akin presents a huge opportunity for the market to take advantage of.
Note: Akin is currently in pilot mode with several companies
Download the Microsoft whitepaper ‘Transform your business with advanced analytics’ here.
To find out more about Akin, click here.