Analytics Consulting in 2020: In-Depth Guide

Big data projects are positioned in the business press as good investments; however, Gartner reveals that 85% of Big Data projects fail. According to a Fortune Knowledge Group surveythese projects fail due to organizational resistance (e.g. executives’ reliance on instincts rather than data).

To ensure the success of big data/analytics projects, companies can rely on specialized consultants that bring know-how and experience regarding analytics tools and processes. This can allow companies to avoid typical mistakes; however, consultants bring an additional organizational layer with conflicts of interest. Therefore, it is important to be aware of analytics consulting best practices such an ensuring alignment between the business and consultant and relying on open-source tools to avoid vendor lock-in. Read more

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What is Analytics? How is it evolving? [2020 update]

Analytics is the science of producing insight from the patterns in complex data to make better decisions. It relies on statistics, predictive modeling and computer science.

Analytics is not a new concept for organizations. It has been a relevant topic for organizations since the mid-90s. Starting with sales and customer data, businesses applied analytics to their decision-making processes. Analytics is evolving with advances in machine learning. While analytics in the past focused on descriptive and diagnostic approaches, modern analytics is predictive and prescriptive. Read more

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AI in analytics: How AI is shaping analytics in 2020

I started my career as a management consultant. Excel was our temple for analytics. For a recent graduate, macros and connected models perform miracles but albeit at great effort. However, our reach was extremely limited compared to the possibilities of today. We could not process anything with images, text, audio or video easily as non-technical users. Fast forward to today, citizen data scientists are unleashing machine learning on all of companies data to run diagnostic, predictive and prescriptive analytics. Read more

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Be a citizen data scientist: Tools democratizing data science

Analytics vendors and non-technical employess are democratizing data science. Organizations are looking at every employee as a data scientist so that they can bring their expertise on a business problem.

Most industry analysts are highlighting the increased role of citizen data scientists in organizations:

  • IDC big data analytics and AI research director Chwee Kan Chua mentions in an interview: “Lowering the barriers to allow even non-technical business users to be ‘data scientists’ is a great approach.”
  • According to Gartner, data scientists create models that use advanced diagnostic/predictive/prescriptive  analytics. Their primary job function is outside the field of statistics and analytics.

Why are there more citizen data scientists now?

These trends support democratization of analytics:

What are the tools used by citizen data scientists?

Citizen data scientists first need to access business data from various systems. For example, Kloud.io is a self-service data reporting tool which allows employees to pull data from various databases for easy analysis and automated reporting. We have listed kloud.io and other solutions for reporting. Read more

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Digital Transformation Consulting in 2020: In-Depth Guide

Digital transformation (DX) is a major challenge and opportunity for businesses. Even though executives are willing to apply digital transformation to the organization, in-house teams may not have the experience or time to achieve this objective. Digital Transformation Consultants can help the organization overcome the challenge by establishing a digital strategy and implementing digital technology across the enterprise.

We’ve written before about digital transformation, feel free to read that as an intro to the topic. Read more

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