In our earlier post, "Data -
More Valuable than Oil," we discussed the importance of data in the
current digital era and how data analytics can help businesses realize their full
potential. We declared data to be the new oil, but it needs to be refined, just
like any other resource, in order to be truly valuable. This article delves
further into the concept of data analytics maturity, which refers to an
organization's capacity to use data to make well-informed decisions.
Ready to unlock the true potential of your data?
Dataware Tech and Yadaba Communication are hosting a workshop specifically designed for Banking and Finance professionals on May 7th and 8th at the Airport View Hotel. This insightful and practical session will equip you with the tools and knowledge to leverage data analytics for informed decision-making and drive success within your organisation. Don't miss this opportunity to gain a competitive edge in data-driven world of finance. Register at https://shorturl.at/hrux4
Building the analytics refinery:
components and resources
Building an analytics function
requires several parts and resources, just like an oil refinery needs a particular
set of equipment and knowledge. Below is a summary of the key components:
Mechanical Resources: These are the resources that
support the gathering, storing, and processing of data. It includes cloud
storage options, business intelligence (BI) tools that facilitate data analysis
and visualization, and data warehouses.
Technical Resources: The foundation of any effective
analytics operation is a team of knowledgeable experts. To extract insights
from data, you need data scientists, data analysts, data engineers, and
business intelligence specialists with experience in data mining, modelling,
and data visualization.
Human Resources: Promoting a data-driven culture is
crucial, even above and beyond technical proficiency. This includes
implementing data literacy programmes to give staff members at all levels the
skills necessary to comprehend and analyze data. Data-driven decision making is
encouraged at all levels in a culture that values analytics.
Partnering for success: How Dataware
Tech can help
Establishing a strong analytics
department can be a challenging task. Your path to data analytics maturity can
be greatly accelerated by collaborating with a company like Dataware Tech. How
Dataware Tech may be your reliable partner is as follows:
Infrastructure and Technology: Dataware Tech can offer the
infrastructure and technology required to set up a safe and scalable data
foundation.
Skilled Professionals: When you work with Dataware Tech,
you get access to a group of knowledgeable data scientists and analysts who can
turn your information into insights that you can use right away.
Training and Capacity Building: To empower your staff and foster a
data-driven culture within your company, Dataware Tech can create and implement
data literacy programmes.
The road to data-driven maturity: a continuous journey
Building an analytics function is
not a one-time endeavor; it's an ongoing process. By investing in the necessary
mechanical, technical, and human resources, and potentially partnering with a
trusted data analytics firm like Dataware Tech, your organization can embark on
a journey towards data analytics maturity. This maturity translates to a
competitive advantage, enabling you to leverage data-driven insights for
informed decision-making, innovation, and ultimately, sustainable growth.
By Nana Kojo HAGAN
The writer is a Data & AI Team
Lead at Dataware Tech. I'm passionate about empowering organizations to harness
the power of data analytics. Join us for the workshop!
