Forward-thinking companies leverage information- based analytics to provide business foresight and customer insight about upcoming opportunities or rising trends, so they can adjust their planning and actions accordingly to keep evolving dynamic business reality, improving business performance and agility.
It’s important to understand how quantitative data is a subset of reality, and know what happened yesterday will not be a perfect image of today or tomorrow as change is increasing its pace. The real-time information can bring business insight and foresight, enable organizations to see the future clearly; enhance businesses competency, re-imagine organizational growth, delight customers, and keep innovating business effectively.
No matter which analytics you apply, be transformed into actionable insight and catalyze innovation: Information is growing exponentially, in a business scope, there are some of the important bits and bytes of information needed to forecast emerging trends, predict the business growth opportunities, and prevent risks. Information-based analytics enables the business to develop the future perspective, shape futuristic viewpoints, and bring people together in a common and committed effort.
Information-savvy organizations are able to move people in the right direction, inspire people to innovate and achieve innovation excellence. Effective information management can transform raw data into refined business insight, enable the business to build dynamic innovation capability for idea creation, selection, prioritization and improve the success rate of innovation management.
Information–based cost/benefits analysis is an important tool to increase multifaceted business value and business impact: Information based analysis helps the management calculate how well organizational investment repays the company, focusing on benefits generation. Further impact analysis is needed to improve cost structure, business effectiveness, optimize cost structure without sacrificing quality, improve value chain, better brand value or market share.
Valuation is based on financial metrics and projections for future revenues, cash flows, and income. When cost is too high, doing analysis to discover the causes would generally be started, and then based on that analysis, some putative cure would be put into action.
Today’s business environment is dynamic, complex, and uncertain, information-based analysis is an effective tool to lead change and improve business-value creation. How successful the organization can handle frequent disruptions depends on how fast and capable they can process information, as well as refine information into invaluable business insight. Information based analytics helps the business management grasp growth opportunities, lead desired changes, and manage risks effectively.