Although almost every company in the world recognizes the power of data, most struggle to unlock its full potential. Companies such as Google, Amazon, and Uber that primarily deal with data are among the most valuable in the world, in terms of market capitalization, business performance, and innovation. One of the key reasons for their […]
Harnessing Data: From Resource to Asset to Product
Companies that are data-driven demonstrate improved business performance. McKinsey says that data and analytics can provide EBITDA (earnings before interest, taxes, depreciation, and amortization) increases of up to 25% [1]. According to MIT, digitally mature firms are 26% more profitable than their peers [2]. Forrester research found that organizations using data are three times more […]
Mind the Gap: Ask for Business Actions, Not Business Value
I’m not sure I know anyone in the data and analytics field whose platform doesn’t face budget scrutiny. Analytics is expensive. And when cost-cutting is the order of the day, analytics is a big target. Up shields. Time for another business value inventory. I’ve spoken with consultants who have completed analytics business value inventories at […]
The Hidden Language of Data: How Linguistic Analysis Is Transforming Data Interpretation
From Fortune 500 companies to local startups, everyone’s swimming in a sea of numbers, charts, and graphs. But here’s the thing: While structured data like sales figures and customer demographics have long been the backbone of analytics, there’s a growing realization that unstructured data is the real goldmine. Think about it. Every tweet, email, customer review, and social […]
From Instincts to Data-Driven Success: The AI-Powered Path to Product-Led Growth
Have you noticed the way that businesses grow is changing? We are moving away from standard sales-driven models to more innovative product-led tactics. And what is fueling this shift? You guessed it: AI and predictive analytics. These tools are not just fancy jargon; they are transforming how we understand customer needs, customize experiences, and upgrade […]
Data Visualization in the Era of AI/ML
How will data visualization evolve in the era of AI/ML? While AI is rapidly evolving, it is ironic that business users are still using “dumb” dashboards. The challenge is to move beyond these unintelligent dashboards to a genuinely transformative visual analytics solution that harnesses the power of AI/ML. While some vendors offer a ChatGPT-like querying […]
Mind the Gap: Start Modernizing Analytics by Reorienting Your Enterprise Analytics Team
… and your data warehouse / data lake / data lakehouse. A few months ago, I talked about how nearly all of our analytics architectures are stuck in the 1990s. Maybe an executive at your company read that article, and now you have a mandate to “modernize analytics.” Let’s say that they even understand that just […]
3 Examples of LLM Use in Business Intelligence
Large language models (LLMs) are advanced AI systems designed to process and generate human-like text by training on extensive datasets. They excel in tasks ranging from translation and summarization to answering questions and writing content, effectively simplifying what used to be labor-intensive, complex interactions between humans and machines. LLMs represent a transformative leap in artificial […]
4 Ways Embedded BI Improves Data Governance
We live in a data-driven culture, which means that as a business leader, you probably have more data than you know what to do with. To gain control over your data, it is essential to implement a data governance strategy that considers the business needs of every level, from basement to boardroom. A proper data […]
Data Concierge: Driving Business Intelligence Collaboration
Discerning businesses are ensuring each area of their organizations has access to performance metrics. Armed with data, their teams can accelerate decision-making, respond to client and marketplace demands, and mitigate risks. The issue is many organizations have segregated data environments. Each department often has its own data management platform that may not integrate with other […]