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30 Nov 2022
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How Big Data Analytics are Disrupting Strategy Consulting

Today, one of the key areas for corporate leaders is working with data. Almost nine out of ten (87%) financial professionals surveyed for this study believe that this is the potential for the development of the very approach to doing business. Other studies have found that just over half (51%) of corporate leaders rank big data and analytics as a top 10 corporate priority. All this suggests that after the revolution of decades, business is entering an era when it becomes a driving force.

There are a great many sources of big data consulting today – these are count records, external channels, machine data, social networks, and much more. These are related streams.

To take advantage of the services provided by working with data, companies will have to solve a number of problems, inevitably, the need for new skills, tools and a different way of thinking will arise. So what does the era of data dominance bring to business leaders and financiers in particular? What are the benefits of new approaches to data analysis? And what is the role of management accountants here? These are just a few of the main issues covered in this report. The conclusions were made based on the results of a comprehensive survey, a survey of more than 2,000 CFOs and employees of financial services, as well as on the basis of a comprehensive study of documentary materials.

How Big Data Analytics are Disrupting Strategy Consulting

Data is the main business asset

Companies of all types of activity are already converting data into a real system with affordable means. All industries are covered. Scientific research uncovers methods of growth through data-driven decision-making. Concurrently, the data-driven financiers surveyed expect to see higher efficiencies and improved KPIs.

Business value of analytics

  • A new approach to work

The nature of business is changing, and with it new areas of competition are emerging. Employees today are well versed in technical issues and do not want to take a long time to get ready for work. Deliver the speed and convenience you need to your users while maintaining high standards of data quality and security. A centralized analytics platform where IT plays a key role should be a fundamental part of your business intelligence strategy. The key to successful innovation is the combination of business and IT projects.

  • Discover new possibilities

The development of data analysis technologies creates new chances  for generating added value from your data. Modern data analytics enable you to uncover hidden data models through predictive, self-learning, and adaptive capabilities. These technologies are intuitive and include stunning data visualizations that help you analyze millions of rows and columns instantly. Modern analytical solutions are convenient and can be used on mobile devices. You can access the data you want, at the right time, with little or no knowledge of how it works.

  • Visualize your data

Data analytics provide a clear and clear picture of the business situation. By analyzing personal, corporate and big data, you can quickly understand its meaning, share with colleagues and do it all in a matter of minutes.

Big data in business

  • Everyone who deals with big data can be roughly divided into several groups:
  • Infrastructure providers – solve the problems of data storage and preprocessing. For example: IBM, Microsoft, Oracle, Sap and others.
  • Dataminers are algorithms that help customers extract valuable information. Among them: Yandex Data Factory, Algomost, Glowbyte Consulting, CleverData, etc.
  • System integrators are companies that implement big data analytics services by Data Science UA on the client side. For example: “Force”, “Croc”, etc.

Also Read: How to Transition your Business from a Traditional Office to a Virtual Office?

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