Analytics platforms – when is it time to change yours?
A barrage of changes in the world of data has sent organizations scrambling to manage their requirements through comprehensive analytics platforms. In this day and age, organisations are increasingly under competitive pressure to not only acquire customers but also understand their customers’ needs to be able to optimise customer experience and develop long-standing relationships.
Data analytics platforms help organizations harness their data and use it to identify new opportunities. That, in turn, leads to smarter business moves, more efficient operations, higher profits, and happier customers. Research done by MIT Management Review and SAS back in reports that 67% of companies gain a competitive advantage by using analytics platforms. Each year, this percentage grows exponentially with more companies opting every day to adopt an effective analytics platform.
With such an emphasis on analytics, it’s important to know when you need to make a shift. Here are a few signs that indicate its time to change your analytics platform.
Is your company using the right analytics platform to complement your industry?
More often than not companies are not fully utilising their current data analytics platforms because their platforms are not complementing their company’s needs or taking into account the industry they are in. It is no secret that data analytics can prove to be exponentially valuable for companies of all sizes. After all, 61% of corporate decision-makers have said they struggled to access or integrate the data they needed last year. This begs the questions, are they using the right platforms to support their company within the context of their industry?
For example, if you’re in insurance, you need greater visibility over your claims and how your payouts are taking place. This needs to be facilitated by your platform. Similarly, these requirements will vary from one industry to another. Therefore, it’s imperative that your analytics platform has the capacity to uniquely cater to your industry-specific needs.
Expansion to multiple sites means you need a platform that can grow with you
Businesses are constantly growing – especially ones looking at cross-regional expansion. This level of growth will require much more than what an ordinary data analytics platform can offer. The ability to share and host data through multiple sites is integral for operating seamlessly and effectively.
In this day and age, companies are on the lookout for effective data analytics platforms that accommodate multiple sites. Analytics platforms like SAS facilitate the accommodation of multiple sites in this manner.
This renowned platform has a deep bench of analytics solutions, bolstered by experts with broad industry knowledge, that can facilitate any company in seeking immediate value from data across multiple sites and location. Identify what’s working, fix what isn’t, and make more intelligent decisions. This will drive relevant change.
A comforting statistic to mull over is that over 90 per cent of the largest global firms have SAS – organizations and companies like Bank of America, the World Wildlife Fund and Honda have all adopted SAS into the fold of their companies and are reaping the benefits of this intricately designed analytics platform.
You’re not happy with the support services
Analytics companies know that not everyone is as data-minded as they are, so they put a lot of effort into building platforms that have interfaces that are simple and easy to use. You can get most of the information you need with very little effort. However, even with this emphasis on user experience, some analytics users require additional assistance and guidance.
It’s with this in mind that many companies rely on support services that come with analytics platforms – as opposed to standalone platforms themselves. One major advantage of an analytics platform like SAS is that it has many partners around the world capable of both selling SAS software and facilitating services. As a company that offers comprehensive support services in this regard, we are one of the first organisations in Australia to obtain the Visualisation competency badge from SAS.
To accommodate the ever-changing landscape of data analytics, we are constantly developing new, efficient, and creative ways to improve the insights companies obtain through their SAS systems.
The analytics industry is evolving rapidly, both in terms of the data it can collect and the myriad of ways software can slice and dice this data to help you find actionable trends. This data is there for the taking and you can easily use it to optimise your business’ operations – especially with SAS. Additionally, keep in mind that your competitors are doing this too — so be sure not to get left behind.
Businesses, both large and small, can benefit from analytics. Whether you sell one product or a thousand, whether you’re a solo entrepreneur or a multinational conglomerate, the principles, techniques, and goals of analytics are the same — identify which business activities generate revenue, and use this to guide future decisions.
For more information on how you can supercharge your company’s impact through an effective and comprehensive data analytics platform, visit our site.