Analytics and AI have become a significant area for businesses in recent years with an IDC research reporting that Australian organisations “will spend $2 billion on artificial intelligence systems by the end of 2022”, the research also predicted that investments in AI by Australian organisations “will continue beyond 2022, and AI spending will reach more than $3.5 billion by 2025”.
Although many enterprises understand the value of data, many still don’t know where to start the implementation, how to make the best use of their data in order to make sense of it and apply it appropriately to their business context.
What we see, are organisations drowning in an enormous amount of disparate, inconsistent and inaccurate data, and relying on siloed and legacy systems.
In fact, when harnessing the power of analytics and AI, organisations can augment the decision-making processes, fast track innovation, increase competitive advantage and deliver overall quality business outcomes with speed.
What are the true benefits of Analytics and AI?
When adopting advanced Analytics and AI practices, and tapping into reliable and real-time data, organisations can propel their businesses forward by:
- Turning insights into profitable action – by generating meaningful insights and eliminating wasteful resources, organisations can increase revenue, decrease costs, improve customer experience, and grow competitiveness in even the most challenging of markets.
- Accessing trustworthy centralised data – by eliminating inefficient processes the pain of inconsistent data and replacing it with a single source of truth, organisations can be empowered to make better decisions and provide better and richer experiences for customers and employees.
- Being empowered with smart data visualisation – by finding the right balance between insights and an overwhelming amount of data, organisations can get the right insight to the right person at the right time, and make critical decisions, innovate and interact with data in a way that is not disruptive and ineffective. Data must be an enabler and not a distraction.
- Achieving transformation across the ecosystem – by integrating siloed systems and modernising legacy investments, and integrating digital platforms, organisations can gain agility and be empowered to grow and scale.
- Empowering their staff and improving customer experience – by gaining an integrated single customer view, you can empower your staff to deliver richer and empathetic services to your customers.
Organisations spend so much time and money collecting data. The question is: Are they getting the true value of all the data in their business?
Nexon Analytics and AI consulting services helps organisations to unlock the power of data and transform it in meaningful insights that will drive growth, better experiences and give them a competitive advantage. Contact us for more information or download our brochure here.