7/18/2022 0 Comments Analytics Modernization Frameworks Empower You to Make Smart Decisions Supported by the Right DataIn this connected world, data is the new currency. Analytics modernization frameworks empower you to make smart decisions supported by the right data. The right data allows you to make the right decisions at the right time to fuel your business' growth. Analytics help you keep up with trends, customers, and market demands. They also help you develop new offerings that enhance your existing product. And as the world of data grows exponentially, more data is necessary to analyze it. Strategy for Analytics and technologies have changed a lot over the years. As businesses became more reliant on them, tools such as MapReduce and Apache Hadoop emerged. These toolsets were initially based on business intelligence software and helped to establish strong governance and data analysis across functions. However, these technologies were not time-consuming and often trapped data in silos. As a result, most companies have struggled to harness the full potential of their data. To get stakeholders' buy-in for analytics modernization, organizations must first develop a strong learning culture. The benefits of creating a learning culture have been attributed to improved morale and retention rates. To motivate stakeholders, organizations should design a plan for how to retain and attract a highly engaged workforce with marketable skills. Once a learning culture has been established, the next step is to develop a data mart that defines business logic and makes data available to business units. Ultimately, analytics modernization helps companies improve decision-making. Traditional decision-making is hampered by basic analytics, and advanced analytics can give you a new perspective and new strategies to propel your business forward. However, each business has its unique problems that need to be addressed. As the world of data evolves, so will the tools and environments that enable analytics. With the right foundation, AI Strategy can improve campaigning and customer service. So how do you get started? Governance issues can impede analytics modernization. Ultimately, a centralized analytics platform with a role for IT is essential to modernizing an analytics environment. The governance of data is important because it can slow down analytics modernization. If you're facing governance challenges, enabling self-service analytics is a great option. Self-service analytics lets business users develop reports when they need them, and then remove them when they're no longer needed. As you modernize your reporting, it's important to remember that the process is educational as well as technical. You need to ensure that all end users are trained on the new analytics tool. This training can be as simple as a one-day boot camp. This way, you can ensure that everyone is fully up to speed and getting the most out of your new data. A modernization project should be managed through a training and enablement plan. In addition to integrating a modern analytics platform, you must train your staff to use the new analytics tool. Training for developers and end users can be tailored to suit their learning styles. Developer-focused training is for staff who will be building and owning analytics solutions, while end-user training is for non-technical staff. It is important that your training does not follow a cookie-cutter approach. The best training is the one that's tailored to the audience. Check out this post that has expounded on the topic: https://en.wikipedia.org/wiki/Business_analytics.
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