{"id":9750,"date":"2023-09-22T17:19:30","date_gmt":"2023-09-22T11:49:30","guid":{"rendered":"https:\/\/47billion.com\/?p=9750"},"modified":"2024-12-23T05:18:06","modified_gmt":"2024-12-23T05:18:06","slug":"data-analytics-journey-to-better-roi","status":"publish","type":"post","link":"https:\/\/47billion.com\/infographic-en\/data-analytics-journey-to-better-roi\/","title":{"rendered":"Data Analytics Journey to Better ROI"},"content":{"rendered":"\n
Organizations are investing trillions to become data-driven, but only 8% successfully scale analytics to get value from their data. Harnessing data effectively can create opportunities for your business to solve challenges and thrive<\/p>\n\n\n\n
If organizations can create immediate value with data analytics and implement use cases, more people and teams can develop data assets to suit their needs. <\/p>\n\n\n\n
The result is \u2013 a well-equipped workforce that values practices and promotes data usage – Which defines a \u2018Data Culture\u2019 in the organization.
Here we bring a roadmap to achieve better ROIby implementing ‘Data Culture –<\/p>\n\n\n\n
1. Understanding Requirements \u27a1 Articulating business needs and estimated impact \u27a1 Creating a base with a vision of how the solution will be beneficial for business
2. Data Acquisition \u27a1 Gathering Data from internal and external sources \u27a1 Combine technical and business expertise to unlock the value of big data \u27a1 Enhance data by filtering out unproductive information
3. Data Engineering \u27a1 Deriving analytics through the right combination of quantitative techniques and cutting-edge technologies
4. Modelling Insights \u27a1 Generating actionable insights to improve customer acquisition, retention, and efficiency<\/p>\n\n\n\n
5. Workflow Integration \u27a1 Integrating insights into decision-making to automate processes \u27a1 Deploying the latest tools for converting insights into actions to drive outcomes<\/p>\n\n\n\n