The use of analytics has exploded across business, and the value it already has delivered has heightened executives' expectations. Now data can be processed in real time to meet a constantly widening range of analytic needs. How your organization utilizes them in the next decade will be essential to your success.
These developments come at an opportune time. Organizations are being over-whelmed by the rivers of data generated by applications and systems on-premises or flowing in via the cloud. At the same time, the cost of computational power has declined dramatically, making it practical to apply analytics to and generate information on just about anything.
But no advance comes without challenges. While the widespread availability of analytics has created seemingly valuable insights, executives and managers are finding that those insights are not easily linked to steps that will improve business outcomes or optimize actions. Furthermore, analytics are not always easy for line of business users to understand. So the challenge is to make analytics impactful in every role and task across the organization.