Written by, Matt Sisley, Director of Analytics, itelligence UK
The digitisation of business and increased competition on prices, services and products means information and analytics are more critical to successful business than ever. It is also harder to deliver these insights than ever before. Data that is key to decisions is coming thicker and faster from more places and with more variety. Analytics solutions need to manage all these demands and deliver trusted, insightful analytics on time whilst complying with regulatory and institutional security and privacy policies.
That is a big ask. It needs more than a data warehouse and a reporting tool to meet these demands.
Why are analytics important?
Understanding your customers, your business operations and meeting your regulatory requirements are critical to success in business.
Businesses need to be able to answer questions like: How do I keep my customers loyal? How do I attract new customers? How to do I optimise my operational costs? How do I know which suppliers give me the best service?
It is not enough to just to report on how much your customers spent, how many customers you have acquired and lost or what your staff costs were last quarter. To win in business you need to look forward which means your analytics need to look forward. We need to understand how much your customers will spend, what they will buy, who they will recommend you to and what impact their recommendations have on their friends. Those questions are much more difficult and cannot be answered by traditional approaches.
What is needed to deliver value analytics?
Traditional approaches to data warehousing, reporting and business intelligence are not adequate. Some of the most critical decisions need to be made on the most complex data sets at a level of detail that is overwhelming and exploiting relationships that are beyond understanding. A modern analytical solution needs to be able to analyse complex data structures and relationships and provide information that helps decision makers to cut to the quick; to understand what they can do to influence future outcomes.
That means that modern analytical solutions need to be intelligent, they need to be able to handle potentially massive volumes of data and they need to be able to derive insight from a range of different data set and sources – not just the core enterprise systems.
How do we deliver these analytics?
Technologies like SAP HANA and SAP Data Hub provide the capabilities to source, manage, access and analyse data from all across your landscape; from enterprise systems such as ERPs, CRMs and Data Warehouses to Data Lakes, Scanners and Sensors. Whilst tools like SAP Analytics Cloud deliver insightful visualisations and leverage machine learning to provide insights beyond what can be achieved through traditional slice-and-dice capabilities; without needing Data Scientists.
I will be covering all of the above during my #itelli2018 presentation and hope to see you there.
I will be presenting “The why, how and what of modern analytics and data management” at 1:30pm in the Churchill Room, QEII Conference Centre, Westminster, London.
#itelli2018 is being held on Wednesday 23rd May. The Conference will bring the SAP community together and provide expert guidance with customer-led insight to explain why and how organisations are adopting new disruptive SAP technologies in the pursuit of digital transformation. Showcasing the latest analytics, Business Intelligence and Data Management developments, there will be multiple sessions comprising 6 streams including customer presentations, interactive areas, hands-on zones, live demonstrations, expert advice in the consultant’s corner, plus the SAP Digital Boardroom!
View the full agenda and register here.