Data Analytics Trends | NextPhase.ai

Описание: https://nextphase.ai/ -- How are organizations becoming more competitive by unlocking the power of data through analytics? We're joined by Bill Draper, president of NextPhase and Vikas Sripathi, who is director of professional services.

What are some of the obstacles that you're seeing as organizations try to create their path to an accelerated, data driven culture?
Executives I talked to realize that high quality data analytics and AI are critical components to their future success. But still, some 70 percent of analytics initiatives fail to meet their objectives. There are four challenges executives face when trying to create a data driven culture. One is misalignment across business functions. Two is different legacy processes that need to be integrated and in some cases retooled. Three, enabling leadership with new skills and focus so they can align with the corporate mission. And lastly, competition for an availability of resources with skills to execute on key initiatives. Overall, in the act of trying to build a cohesive data strategy and create a data driven culture, executives we engage with face these four headwinds. If these challenges are overcome, it will put them on a path to realizing efficient and reliable access to quality data and create a data driven culture.

What are some of the obstacles from a professional services perspective, and a dev ops perspective, you see working with these cross-functional teams?
We can broadly classify the kinds of challenges organizations experience into data, people and processes. So why data is because there are all kinds of data, a semi structured, structured, unstructured, and then you also have different kinds of data silos that exist.

All of these need to be integrated and there is a need to bring about a single source of truth. The second obstacle within data is mostly the infrastructure. We have to live with the current infrastructure as well as enhance it to make it as real-time compliant as possible given different business use cases. The rest of the skills on people are mostly to do with people's skills, but a lot of existing personnel need to be upskilled. And we also have a bunch of different economic skills.

People fresh out of college who can actually fit into the new age data analytics, particularly driven by cloud exploration and AI. The last one that I see as a challenge is mostly the processes. Internal processes need to be redefined and educated across different business functions, and that would ensure the success of analytics implementation. Any approach that we take for an analytics journey to be really successful is because we are handling the change effectively and with the help of the right partner.

What are some of the key data trends that both of you are seeing as you work with customers?
On a macro level, successful companies we speak to are trying to reach analytics maturity, and analytics maturity, meaning having the ability to push analytics into production, also the ability to drive analytics to adoption by all business stakeholders, and then ultimately compete on analytics. Four common characteristics of an analytics mature organization include; Number one, analytic supports a strategic and distinctive capability. Number two, the approach to and management of analytics is enterprise wide. Three senior management is committed to the use of analytics. And the fourth characteristic is a company has made a significant and strategic bet on analytics as a competitive advantage.

READ MORE: https://nextphase.ai/approach/

Have questions? We help companies like yours every day.
Email us at [email protected]

About NextPhase.ai
NextPhase.ai is a data cloud services provider specializing in Snowflake, cloud data management and analytics technologies. We accelerate enterprise digital transformation initiatives by leveraging our innovative cloud data management technology, "NextPhase.ai DATAFLO” to optimize and rationalize disparate enterprise data into relevant insights. "DATAFLO" is designed to automate the lifecycle of data management transformation using AI and ML along with expeditious on-ramps to the Snowflake data cloud infrastructure. NextPhase.ai provides a range of technology consulting services for the Financial Services, Biotech and Technology industry sectors combining our platform-based services, seasoned talent, and industry proven methodology so our customers can harness more from their data. We are a Silicon Valley based company with global presence having delivered high value service engagements for numerous Global 2000 enterprises.