Businesses must put their data to work

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Today, advanced analytics enable businesses to leverage the data produced by everyday activities, from sensor-generated information, point-of-sale information, social media, and images and video. Traditional business intelligence tools produce a summary of data, generating more data, but traditional business intelligence tools provide insight into the past, i.e., into what has already happened. Advanced analytics, likewise, produce more data from existing data, but this data is transformational, creating previously unknown knowledge and offering insight into the future and previously unidentified options that are likely to happen.

In order to realize a return on investment from capturing, cleaning, and maintaining it. Putting data to work through advanced analytics algorithms has dramatically shown consistent ROI. Traditionally, data centers have been viewed as a tax or cost rather than a dividend generator. The cost of maintaining large volumes of data is a heavy uae consumer email list burden when it is not possible to extract new value from the data and use it to drive business-supporting actions, such as predicting customer behavior, understanding the root causes of behavior, and reducing fraud.

How can companies turn data centers into dividend-generating assets?

One way is through transaction cost reduction. Typically, these transaction costs involve moving data into environments where predictive models can be produced or data analysis is performed on a small subset of data that can fit into existing hardware and software architectures. Then there is the cost involved in putting those models into production. Transaction costs result in multi-step, labor-intensive efforts, leading companies to postpone investing in and deriving value from data.