We live in a world consumed by data. Given that just about all business activity is recorded and formulated into readable reports, it is not unrealistic to assume that business should be far easier and more efficient to conduct. Unfortunately, this simply isn't the case.
The overwhelming amount of data that businesses now have access to, creates a lot ‘noise'. Accompanying this ‘noise' is a steady stream of new questions and challenges that previously didn't exist, the combination of which is making it increasingly difficult for executives to navigate the mass of intel, identify and prioritise business challenges, decide which data is relevant, predict future trends with unfailing accuracy, and put measures in place to proactively resolve problems that either don't yet exist, or are just starting to come to light.
While data, reports, and insights are useful, they can only take your business so far before it becomes imperative that you explore other avenues of information and alternative means of using this information to get the business results that you require. To avoid costly misdirection, delays, and loss of traction, the time has come to shift away from traditional analytics, towards something more agile, responsive, and scientific. Something that can help you go beyond insights and live in a world where you can predict the future and create and implement solutions that redefines ‘business as usual'.
The future of analytics
Until recently, businesses relied on traditional tools to collect and interpret data, however the Britehouse Advanced Analytics Division is pioneering a new movement in how we view and use data. Businesses now have access to a first of its kind division whose mandate is to work with you to create solutions to problems whose complexity is beyond the scope of conventional analytics and reporting.
Says Jeetendra Fakir, Group Executive, Advanced Analytics Division: "This is the innovative next step in analytics; to bring together business, academic theory, and technology. Through a deep understanding of academic theories and access to limitless computational power, we are able to create the best, bespoke business solutions for our clients."
These advanced tools combine four main areas from which data can be yielded:
- Internal factors: Information that is generated by day-to-day business activities.
- External factors: For instance, climatological data, economics, demographics, and social media.
- Blind data: Data which always existed in the business but was never considered part of any solutions.
- Feature engineering: Abstract conceptual thinking.
The Advanced Analytics Division connects these four data verticals with challenges and opportunities, unique to your business to create a bespoke mathematical model that will gather a holistic dataset, make sense of the noise, and use those findings to build innovative solutions that will accelerate business performance.
The team interpreting the noise
Its team comprises of individuals from multi-disciplines, including statisticians, physicists, mathematicians, behavioural scientists, data engineers and technology experts. Through this blend of skills and expertise, there is a holistic approach to data science, which would not be possible were it to be handled by any single individual or discipline.
The team is both agile and disruptive, whereby individuals with business insights and empathy work with non-linear, abstract problem-solvers Moreover, subject matter experts are called upon as needed to ensure that every avenue is explored.
Says Jeetendra Fakir, Group Executive, Advanced Analytics Division: "This close collaboration and cohesion in the team gives us the competitive edge which differentiates us and enables us to claim success for our clients. With this team structure, we are able to unpack the art of the possible at an accelerated rate.
The tangible benefits of making such a dramatic shift
Advanced analytics uses what has happened to predict what will happen with a certain level of accuracy, in the shortest time possible.
Differentiating benefits of advanced analytics:
* Outcome-Based Business Value: The Division puts the business need at the core of everything they do, meaning that all actions are purely based on finding solutions for the unique challenge your business faces.
* Innovative and Individual Business Solutions: The Division does not utilise the same ‘toolbox' skillset to solve your business needs and instead looks at each challenge as unique, therefore applying an, innovative approach to business solutions.
* Software Agnostic: The Division is not reliant on any particular software to service their operations and therefore unhindered in their ability to provide innovative solutions.
* Client-Centric: The Division does merely present your business with solutions, instead, we actively partner and work with you to find the solution.
A new dawn for business
Advanced analytics removes the burdensome nature of ‘too much data' that is unaccompanied by relevance or context, only to work with businesses to build a tailored model that will produce solutions that will either solve a current problem or allow your business to take advantage of opportunities you weren't aware of.
As the first of its kind, this Division is breaking ground in its ability to offer businesses access to highly innovative, outcome-based, software agnostic, client-centric solutions that will help Executive teams predict and plan more accurately for the future. In so doing, your business will be able to realise a more profitable tomorrow.