Topics In Demand
Notification
New

No notification found.

How Data Analytics Powers your Digital Transformation Journey
How Data Analytics Powers your Digital Transformation Journey

641

0

What’s the buzzword for agile businesses today? Digital Transformation, right? Organizations are making all-out efforts to accelerate it. At the centre of the digital transformation’s orbit is ‘data’. Businesses and governments today are awash with data. Humans, machines and robots are generating immense volume of data. The key challenge, however, is mining this swarm of data to extract actionable insights that power decisions. But you know full well it’s not as easily done as said. Why? That’s because 90 per cent of the data streaming in from a plethora of sources like e-mail, texts, pictures, images, videos and social media feeds are unstructured. Mining this scale of unstructured data needs a mix of strategy and application of niche technologies. Realizing this challenge, businesses are turning to emerging technologies like Machine Learning (ML), Internet of Things (IoT) and tapping data analytics in its multiple variants- web analytics, Big Data visualization, social media analytics, predictive analytics, descriptive analytics, diagnostic analytics and prescriptive analytics.

Data Analytics - By Priyadarshi Nanu Pany CEO of CSM Technologies

What Enterprises Can Gain from Processing Data

Data is the new oil fuelling the engine of growth and transformation for businesses. We notice how the world is veering from data automation to data analytics.

As per Gartner’s estimates, by 2022, more than half of major new business systems will employ continuous intelligence that uses real-time context data to enhance decision-making. The Covid pandemic has reset the way we live, talk, commute and transact business.

It is also changing the way we stash and process data. For resources, it’s remote working or ‘work from anywhere’ whereas for data, the emerging catchword is process it from anywhere. Which is why Michael Dell, founder & CEO of Dell Technologies estimates that by 2025, 75 per cent of the data will be processed from the edge outside of a traditional data centre or cloud, compared to 10 per cent now. And, to transform that data into outcomes, businesses would need real time analytics and intelligence. This pile of rich data cannot always be fit into structured rows and columns. Hence, enterprises need to build their data interaction strategies. Also, there is a huge opportunity waiting to be tapped in consolidating customer data from their digital footprints across myriad channels- this unstructured yet rich data offers useful insights into their interactions.

Five Applications where Data Analytics is changing the dynamics

  1. Risk Detection & Risk Management
  2. Security
  3. Improving Customer Interface
  4. Healthcare & Pandemic Management
  5. Real-time social media response mining

Data analytics has swiped into our technology devices, and into our business decisions. In the future, data will grow exponentially and so will the users’ interaction with data. This will change the landscape of data analytics, blurring the frontier between the possible and impossible.

This article has been published by Priyadarshi Nanu Pany on CSM Blog.


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


Priyadarshi Nanu Pany is the founder and CEO of CSM Tech, a pioneering GovTech organization headquartered out of Bhubaneswar, Odisha.

© Copyright nasscom. All Rights Reserved.