If data is the new oil, then knowing how to refine it into actionable intelligence is the key to unleashing its potential, elevating IT leaders to rock stars in the eyes of their C-suites and boards of directors. Accordingly, CIOs are leveraging predictive analytics, crafting machine learning algorithms and battle-testing analytics solutions in pursuit of businesses efficiencies and new ways to serve customers.
Thanks to a universal push for digital transformation, worldwide revenues for big data and business analytics software will top $189.1 billion in 2019, an increase of 12 percent over 2018, according to IDC. “Enterprises are rearchitecting to meet these demands and investing in modern technology that will enable them to innovate and remain competitive,” says IDC analyst Dan Vesset. “BDA solutions are at the heart of many of these investments.”
CIOs who put analytics to work in boosting top- and bottom-line growth recently shared lessons learned and advice for peers undertaking similar efforts.
Accenture analytics facilitates sales, utilization and diversity
Analytics guides many of the decisions made at Accenture, says CIO Andrew Wilson. For example, the professional services company’s Win Probability Tool leverages key metrics defined by business owners to score the likelihood of winning potential business opportunities.
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