| | December 20209· We are witnessing more traditional process-driven organizations being disrupted by the new wave of busi-nesses that are using data as a strategic asset at an enterprise level to rethink and reimagine their entire business. · To better utilize data for strategic gain, enterprises already using ad-vanced analytics see the need to foster a cultural shift designed to promote collaboration and data analytics skills.· When driving innovation and ul-timately growth, global executives agree on one thing--analytics should be treated as an enterprise-wide strat-egy, not an ad-hoc endeavor that var-ies from department to department. Critical to address this are a couple of key steps which include:· Building bridges between the business and technical teams to design a solution that you want to put in place. · Find common ground to build synergies and more importantly, move forward.Nowadays, a lot of hype is forming around data analytics and both growing players and big-fishes in the market are ideating its benefits. What are the advantages of using data analytics for an enterprise?· Of the executives we surveyed who have an analytics strategy that is well-established and central to the overall business strategy, 66 percent achieved revenue growth of 15 percent or more, while 63 percent reported that operat-ing margins had increased 15 percent or more in 2016.· We also see organizations showing a mix of tactical and strategic goals, with a desire to develop new products or services also on their analytics wish list.· The potential to employ data and advanced analytics strategically takes on even greater importance for the lead-ers--they certainly see tactical opportunities, but they're even more interested in how they can use data to strength-en themselves in the future. They want to transform busi-ness models, develop new products, react more quickly to market changes, and develop closer relationships with partners and vendors. What is your take on ensuring data availability?· To create a culture that encourages innovation, organizations must look to break down barriers and open the flow of information throughout an entire organization.· The potential to employ data and advanced analytics strategically takes on even greater importance for the leaders--they certainly see tactical opportunities, but they're even more interested in how they can use data to strength-en themselves in the future.· They want to transform business models, develop new products, re-act more quickly to market chang-es, and develop closer relation-ships with partners and vendors. What is your advice for budding technologists in the data analyt-ics space? How do you see the evolution few years from now with regards to disruptions and transformations within data analytics infrastructure field services?· As the Chief Analytics Officer for EY and in speak-ing with many leaders in different industries, I'm find-ing analytics to no longer be just a technology issue, but a strategy and operational issue. Big data and analyt-ics is a disruptive innovation that is transforming our everyday lives.· Enterprises need a holistic plan for creating competitive advantage, identifying opportunities and ultimately mea-suring value. We believe that there is tremendous value to be gained by those organizations that leverage analytics to transform their business processes and how they make deci-sions. As a result, we are seeing the emergence of the chief analytics officer as more of a senior-level change agent, with a unique combination of skills in business, mathemat-ics and technology ­ to work with clients to identify new opportunities.· Companies need to integrate technologies together like AI, RPA, Blockchain. Start with the business issue and then work into how various technologies come together to be a part of an integrated and differentiated solution. Chris Mazzei, Global Chief Analytics OfficerAnalytics should be treated as an enterprise-wide strategy, not an ad-hoc endeavor that varies from department to department
< Page 8 | Page 10 >