Question

How data can be displayed and explored in an effort to make better strategic business decisions ?

Answer 1

It has been established through studies that businesses that have adopted data-driven strategic decision making enjoy at least 5 percent higher productivity and up to 6 percent higher profits than their competitors1. And,a McKinsey analysis of more than 250 engagements over a five year period revealed the businesses that rely heavily on data for making marketing and sales decisions can boost their ROI by 15–20 percent2. For most businesses the key strategy is integrating data analytics with traditional BI to create a data ecosystem which allows them to create new insights while executing on what has already been explored.

To achieve this strategy, Businesses need to identify, combine, and manage multiple sources of data. Second, they need to build advanced-analytics models for predicting and optimizing analysis outcomes.

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