Running a successful business needs a lot of analysis and intelligence to trail the current and upcoming trends. Business Intelligence allows to develop products and solutions that can benefit present plus potential customers. As we already know, data is everywhere, from our PC to smartphone, we are generating some sort of data, that can be used prudently to improve our shopping experience to our daily life.
Top 3 data-driven business intelligence trends
Chief Data Officer
You have a huge amount of data, but it can’t be useful for you unless you get the right perspectives out of that data. Analytical assessment can take you towards success and we have observed data analytics becoming core to every company. Though, in some cases, gaps form between the company and CIO, fighting about security and governance versus speed to insight.
Here a Chief Analytics Officer (CAO) or Chief Data Officer (CDO) is the correct choice to lead the business process change, communicate the benefits of analytics and tackle the cultural barriers. They can assist in result-focused conversations between C-levels to define and develop an analytics approach.
When data has become the new fuel, vulnerabilities would trail this leading potential data breach. According to a recent study by IBM and the Ponemon Institute in 2017, the average cost of a data breach suffered by Indian companies reached INR 110 million last year.
Data is a crucial business asset for every company, and the value of this product will only increase. Then the million-dollar question is, how to shield our data to avoid a possible data breach. Organizations can prudently decide to invest in cybersecurity insurance to safeguard their data protection.
Now the new data engineers will work around data to deliver better insights to make better business decisions. We are observing the enormous demand for “data engineers” that also shows the future of growing and sustained demand. These people would assess the data of the business in a manner that can be used and leveraged to draw insights and make decisions. With the deeper learning and analytical examination, they would be able to foresee the business trends so that the business can make fast decisions to expand their business.
Business analyst certification online course from a reputed institution can help you master the essentials of business analytics to enable you make better insights and business decisions.