FEATURE : ANALYTICS

In today ’ s competitive landscape , the use of forward-looking analytics is now mission-critical . Craig Kelly , VP of Analytics , Syntax , tells us : “ If you aren ’ t getting more from your data , you are falling behind your competition , and you may find your company obsolete in the near future .”

Unlocking actionable insights from existing data can benefit all areas of the business by driving better efficiencies and unlocking potential opportunities , ultimately increasing revenue and reducing costs .

How can analytics provide enterprises with insights that will drive better decision-making ? What sort of information can analytics provide to enterprises that would be especially useful ?

Analytics today can help identify what will happen in the future with a reasonable degree of accuracy . This can include traditional concepts like sales forecasts , which now can incorporate more than internal historical data , but also is easily combined with third party external data that can help generate robust forecasts via Machine Learning ( ML ).

Manufacturing businesses may want to analyze capital asset usage in real-time , combined with other IIoT generated data to maximize the efficiency of preventive maintenance to ensure uptime and minimize costly repairs . Other companies may want to leverage predictive analytics to help drive customer experience and interaction with applications and

40 INTELLIGENTCIO NORTH AMERICA www . intelligentcio . com