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In the business world opportunities abound and their markers are everywhere. Data Analytics is the best tool to translate these markers into human readable form. According to a study done by Forrester Consulting in 2015 only 31% of companies have a clear digital strategy.
As we have seen in a previous presentation Data Analytics may increase the revenue and/or decrease the expenses but it will always add some costs. For a new project to make business sense we need to be sure the difference between benefits (increase in revenue, decrease in expenses) and cost increase is positive.
In a certain year around 600 BC Thales of Miletus predicted a very good crop by observing the weather pattern. Probably many other people made the same prediction. But what he did next made him unique and put him in the history books. He reserved all olive oil presses available in the area only to rent them at a higher price when demand peaked.
Thales not only did the forecast but also understood its business value, conceived and executed an optimum strategy for this environment. Without this whole process the analytic part would have been just an exercise in futility.
Analytics and valuation are the starting point. The Valuation of Data Analytics gives you the current picture and creates the avenues for improving the bottom line but is just one of the steps required to create true value.
Data Analytics and its Valuation open up new avenues for strategy. And with so many combinations available companies can truly differentiate their strategy optimizing customer experience and shareholders value.
“ To such an extent does nature delight and abound in variety that among her trees there is not one plant to be found which is exactly like another ” (Leonardo da Vinci)
Please read ahead to find more.
