Raining Virtue’s Brandon Silva, Director Enterprise Analytics, shares some insights on our approach to data and analytics. “Harvesting the value bound in a company’s data requires more than just cloud services, masses of data, and beautiful reports. We believe that efficient analytical processes, supportive cultural practices, and the right organizational structure are all necessary elements to harness the power of your existing data ethically and compliantly.”
Ethical and Compliant Data Stewardship. Analytics, IOT, and AI are generating explosive growth in the raw data requirements for organizations. The proper processes, policies and architectures will ensure safe and ethical use of that data. In the first half of 2019 there were 3800 publicly disclosed data breaches exposing 4.1 billion records and costing US businesses $8.2 million per breach.
Data Driven Cultures. This is a golden-age for data. Companies are amassing more data than ever, enabling greater analysis capabilities, and the means to take advantage of it are available to every company at modest cost. But most companies have a shortage of people that are good at managing and making sense of this data deluge. 93% of companies site culture as a barrier to becoming a data and insight driven business.
Business-Driven Analytics Processes. Building a data-driven business is not as easy as provisioning services in the cloud, and most businesses don’t have the in-house skills to support the requirements to support analytics. Look to IT partners that provide access to a mix of delivery and infrastructure options to integrate data across the organization. Mid-sized companies can save 15%-25% on their analytics architecture and up to 15% on operating expense by leveraging the right service provider who is focused on your unique business challenges.
Managed Analytics Services. Interest in analytics and its benefits are increasing by the day, but some businesses get stuck trying to analyze all that is possible and all they could do with analytics. To cut through this confusion and complexity, companies should recognize what is relevant to their goals and align their analytics strategy and processes to those goals. Data driven companies are 140% more likely to generate competitive advantage, and 78% more like to grow revenue.
Raining Virtue can help! We take the confusion and headache out of building analytics solutions for companies. Leverage our expertise to navigate through your data challenges and develop the right data and analytics strategy for your goals.