Intelligent CIO Europe Issue 38 | Page 77

t cht lk

EXPERT DISCUSSES HOW ADVANCED ANALYTICS CAN HELP BUSINESSES STAND OUT

Jeff Keyes , VP of Product at Plutora , explains some of the benefits to using advanced analytics and how it can help CIOs and the C-suite to make smarter , more tailored decisions to ensure business success .

Today ’ s digital world means that CIOs are under

greater pressure than ever before to use technology to increase their organisation ’ s profits . Particularly in the early stages of a new business , CIOs and their fellow senior leaders can analyse the actions taken by other successful ( and not so successful ) businesses to understand which decisions paid off and which didn ’ t . Otherwise , decisions must be made purely on instinct .
However , as a business matures , copying other competitors prevents you from standing out , and choices made based on instinct alone can lead to mistakes . By this stage , the company should have generated enough data that advanced analytics can help CIOs and the C-suite to make smarter , more tailored decisions .
CIOs must understand their business based on data as they generate new ideas to improve .
Advanced analytics 101
Advanced analytics is the use of tools and techniques along with business data to generate insights into what decisions should be made . One of its key benefits is monitoring certain activities and predicting future events based on these . Advanced analytics is particularly useful when leaders are deciding on a new business activity as it can help teams understand the impact this activity would have on the business . For example , you can see this in action when you use online shopping .
www . intelligentcio . com INTELLIGENTCIO EUROPE 77