20 Most Promising Data Analytics Solution Providers - 2019
The copious amount of data that organizations have at their disposal is mind-boggling. The challenging part is deriving meaningful insights from that data and converting that information into action. This is the reason that data analytics stands among the core disruptors of the digital industrial era. With data analytics taking center stage, businesses that have garnered meaningful insights from accumulated data over the years have now transitioned to being data-powered enterprises. With the advancement of other technological evolutions in the likes of data analysis such as artificial intelligence, machine learning, Internet of Things, and automation, businesses are seeking ways to ameliorate their data processes in conjugation with these technologies.
The reigning popularity of analytics can be pinned to the basic law of economics about high demand and low supply. When data science came about, although this technological change was welcomed with open arms, there was not enough traditional education available for aspiring data scientists, which led to fewer individuals exploiting the opportunities of data science. Cut to now, the demand for data-driven decision-making can be easily met as businesses have been able to employ technologically advanced tools like Google Analytics, complicated ERPs, and business intelligence applications, and mind-blowing improvements in programming languages.
Organizations with a greater focus on cost reduction and market share gains benefit from the application of advanced analytics such as predictive and prescriptive analytics for optimized decision-making, and descriptive analytics for providing historical insights. Predictive and prescriptive analytics help financial organizations align faster decision-making and efficiency with both long-term and short-term business goals. While descriptive analytics bridges the gap between a business and its customers by assessing past customer behavior as well as the customer-product relationship to help businesses plan for the future. Analytics-driven applications will help businesses to eventually be able to understand customers so thoroughly that they can look beyond the common preferences of customers and unravel new ones. With analytics being ever more accessible in the age of digital, businesses are banking on the next wave of analytics to automate and boost some aspects of decision-making through artificial intelligence, machine learning, and blockchain. Small organizations particularly can use this groundbreaking opportunity to contend with large enterprises.
For the human resources industry, people analytics solutions have been incredibly beneficial in helping proactively map out a strategic workforce for companies, utilize data-driven statistics in employee recruitment, predict frauds, and pin down training requirements across different levels. Manufacturing analytics solutions such as warranty analytics, predictive asset maintenance (PAM), and demand-driven forecasting techniques are revamping operations with better quality and efficiency of several manufacturing processes. Also, the development of various government data and analytics solutions are in full swing for better revenue realization and to deliver improved service to citizens with efficiency.
In conclusion, the data analytics landscape is flooded with myriad solutions and thus zeroing in on the apt one remains an uphill task for a CIO. To tread on the right path, CIOReview Magazine has become the torch bearer in the data analytics landscape. Our distinguished selection panel, comprising CEOs, CIOs, VCs, industry analysts and the editorial board of CIOReview Magazine narrowed the excellent providers that exhibit competence in delivering data analytics solutions.
We have considered the vendor’s ability to offer solutions and services that can effectively yet economically account for advanced and effective data analytics offerings, keeping in mind the factor of time-focused delivery. We present to you CIOReview’s “20 Most Promising Data Analytics Solution Providers 2019”