How to Leverage Big Data Analytics for Digital TransformationJuly 25, 2023 2023-07-25 9:51
How to Leverage Big Data Analytics for Digital Transformation
How to Leverage Big Data Analytics for Digital Transformation
If you have been attentive enough to the workspace/industries of today, you might have noticed the word data analytics is becoming popular and more valuable & demanded. Over the past few years, there has been a sudden rise in the need to analyze data in various industries.
One of the valuable things that most businesses and industries cannot do without is to make decisions that can help them to grow and run their operation much better.
Practically, it is a wrong move for businesses/establishments to take decisions that would positively/negatively impact their entire affairs & operations without looking into what the data that associates & matters to them says.
Information, insights and decisions are vital and resourceful in how businesses can digitally transform their various operations and make it easier for themselves to adapt to market changes and serve their customers/clients/users better.
Most times, organizations & businesses need to explore data analytics to get the best of these three (information, insights and decision). And so, in this piece, we will share how they can leverage big data analytics for digital transformation.
Here is a breakdown of some of the points we will cover to help explain our knowledge in the field of data analytics;
What is big data analytics?What is the role of data analytics in digital transformation? Different ways you can leverage big data analytics for digital transformation
What Is Big Data Analytics?
Big data analytics is usually a complex process targeted towards breaking down big data to extract information in whatever form to help businesses and organizations make better and informed decisions.
Big data analytics deals with large amounts of data and involves the collection, examination & analysis of such data to uncover information like insights, market trends, and patterns that all play a vital role in decision-making.
Analyzing and breaking down these large amounts of data also requires tools and systems like Business Intelligence (BI) that make it easier for businesses & companies to gather this big data from different sources, put them together and get something meaningful out of them.
What is the role of data analytics in digital transformation?
There is no digital transformation without data analytics. This is because data analytics happens to be a key enabler that helps to facilitate the occurrence of digital transformation in many organizations and businesses.
Nowadays, with the rate of digital transformations that occur in various organizations and businesses as they adapt to using new technologies to make their work much better, faster and more satisfying.
This means that before they can confidently use these new technologies, it is necessary to research, analyze and look into the insights of how these new technologies can help them make a noticeable difference between the results and outcomes they used to get before and the potential ones they would get once they decide to use the aforementioned new technologies.
And in making this big decision is where data analytics needs to play a crucial role because whatever decision that organizations and businesses take at this point can either make or mar their effort.
To ensure that these organizations and businesses are always on the right track of digital transformation, here are some of the roles data analytics can play in it;
- Businesses can make informed and better decisions by doing an analysis on the data and findings associated with the new technologies that lead to digital transformation.
- Data analytics also helps businesses to drive real insights from what is happening around them, thereby creating no room for assumptions since you can get the real thing from insights.
- The main goal of leveraging digital transformation in businesses and organizations is to serve customers better and ensure they are satisfied with their products/services. But for this to happen most times, there is a need to explore data analytics to help them carefully study and understand their customers’ behaviors and how to improve their experiences.
Different ways you can leverage big data analytics for digital transformation
Numerous businesses and organizations release and use big data that helps them transform their operations and create better results through the activities they execute. You can see them obtaining these data from means like running a survey/questionnaires and many other ways.
But the fact remains that this acquired big data needs to be broken down through data analytics to enable individuals and teams to understand how they can leverage them for digital transformation.
As an organization/business, if you are wondering how you can leverage big data analytics for digital transformation, here are some of the different ways to achieve that;
- Discover and understand the customers’ behavior and their decision taking pattern: It is practically impossible for businesses to have total control over how their customers should behave and react towards their offerings. But then, it is also vital to discover and understand these behaviors and patterns, as they are instrumental in how businesses can learn more about their customers’ needs, objectives and preferences. To successfully thrive in the marketplace, there is a need for businesses to understand how the customers they are interacting with behave, and this is where big data analytics can play a role in helping these businesses analyze the data associated with their customers to find out vital details about them that they can leverage for growth while transforming their experiences as well.
- Improve the quality of their offerings: One of the essence of digital transformation is to serve customers better by providing them with quality products and services. With big data analytics, businesses can monitor the performance of their offerings to know the ones that are doing well or not. From there, they can trace why some offerings are not doing well and how they can improve their quality and value to perform well.
- Understand the gaps & loose ends within their industries: One of the ways businesses and organizations can transform their growth process is by leveraging on loose ends within their industries. But it would be hard to identify and understand those gaps & loose ends and how they can be resourceful and beneficial to the business if there is no analyzed data to bring them to the notice of business leaders.
Without doubting, big data analytics is a significant enabler in how digital transformation occurs in various organizations and businesses. It also plays a vital role in the decision-making process that leads to these digital transformations. And even in years to come, data analytics will continue to be an opener to digital transformation, because data is crucial in every step most businesses and organizations take today.