We live in a ‘Data Economy’ where quintillions of data are being generated each day. Data needs to be cleansed, transformed, and analysed to extract the hidden business value.
In the current business environment, organisations should have a clear data strategy to unlock the immense value that data interpretation offers. What kind of data needs to be captured, where to get the data from, how to clean it, how to store it, how to make it available at the right place at the right time are key questions that need well thought out answers to build a robust foundation for the organisation’s data and analytics programme.
Analytics helps derive the hidden value of data. Linking data to real-world metrics helps understand the current performance and enables organisations to plan for the future. By generating meaningful and actionable insights, organisations can drive a data-led decision culture.
Artificial Intelligence (AI) further augments an organisation’s ability to unlock the value from the data. AI can analyse large data sets independently and helps find new patterns/insights. AI technologies are evolving rapidly and demonstrating strong potential to change how businesses work.
At BDO in India, we help unlock the value of data. We start by understanding an organisation’s unique business scenario, build the data foundation and generate meaningful insights by leveraging both traditional and AI technologies. We help organisations reduce gut-feel decisions by empowering them with the right data and insights and help them build a data-led decision culture.