BLOG

C-Suite and Big Data – The Balancing Act

Aug 2, 2017

Big data and analytics, the latest buzz word in the global market space, has changed the way organizations’ C-Suite makes strategic decisions and operates their business. The C-Suite includes the company’s top management entities such as the CIO, Chief Marketing Officer, CFO, Chief Analytics Officer, and Chief Procurement Officer among several others. On several occasions, business heads face challenges with respect to big data and analytics and struggle to get a hold over the excess information and analyze it. The current approach towards big data analytics and data science is still old-school and is at a nascent stage. The management is still unable to prioritize tasks, or are yet ill-informed about the benefits of big data analytics and data science and the impact it can have on the businesses’ profitability.

Data or Decision Making – Where Do We Focus?

Organizations often follow a silo-based approach and place more emphasis on the data; thereby, neglecting the benefits of analytics on strategic decision making. Large amounts of information available from disparate sources of data, which are obtained through a legacy approach and traditional systems, often use the one-size-fits-all approach for measurement and provide incorrect insights. In reality, the organizations must combine the big data available to them from a variety of external and internal sources, analyze it, and leverage the insights to make better-informed decisions.

Request a free proposal to learn more about big data analytics and its impact on your organization.

The C-Suite’s Big Data Balancing Act

Businesses can reap the benefits of big data analytics by prioritizing tasks, using scalable data mining and analytics tools, and developing the organization’s data science and analysis capabilities. Data analytics helps in identifying the right metrics; thereby, deriving actionable insights and driving strategic decision making within the organization. In order to balance their big data and analytics, the C-Suite managers must keep the following points in mind:

  • Today, the production of big data has outpaced the organization’s capability to use this data and derive insights from it. The management must recognize the issues ranging from problem identification to collating data and generate insights by validating a framework that ensures data availability and visibility across departments and the business stakeholders, resulting in a balance between data production and consumption
  • Organizations must determine the objectives and goals they wish to achieve through big data analytics to make better decisions
  • Strike a balance between problem identification and problem-solving by determining measurable outcomes, mapping the business issues, and leveraging data analytics to drive consumption and prevent a silo-based analytical approach
  • Identify potential risks and mitigate them by empowering the frontline personnel within the organization and providing them with access to structured, relevant data and analytics tools and training them on problem-solving techniques

Ready to Harness Game-Changing Insights?

Request a free solution pilot to know how we can help you derive intelligent, actionable insights from complex, unstructured data with minimum effort to drive competitive readiness, market excellence, and success.

Recent Blogs

Workforce Management Trends of 2021

Workforce Management Trends of 2021

Driven by the disruption of COVID-19 and enabled by technology, the world’s business leaders can redesign workforce management and redefine ways of working. Organizations are now rethinking workforce management, planning, performance, and experience strategies. Now,...

read more
Tech Trends 2021

Tech Trends 2021

After disruptions caused by the coronavirus crisis starting in 2020, businesses are looking forward to getting back on course and becoming sustainable. 2020 has created havoc and made holes in long-standing norms about how companies operate. It has become evident that...

read more
Sustainable Supply Chain and Big Data Analytics

Sustainable Supply Chain and Big Data Analytics

Sustainability concerns are sprouting up in every industry. A growing population of consumers now prefer eco-friendly and sustainable businesses. Organizations are striving to address this concern, while improving internal systems and processes, by developing supply...

read more

Industries

Our advanced analytics expertise spans across industries, sectors, and functions, which enables us to deliver robust, agile solutions to all our clients. These are our core competencies, formed through years of experience.

Insights

Our free resources shed light on our extensive expertise and equip you with information to accelerate decision-making, growth, and innovation.