Accelerate Business Growth With Cloud Analytics Rosslyn Analytics
WHITE PAPER
Four Proven Ways to Accelerate Business Growth Using Cloud Analytics A Rosslyn Analytics White Paper
[email protected]
•
www.rosslynanalytics.com
WHITE PAPER
Four Proven Ways to Accelerate Business Growth Using Cloud Analytics Timely access to critical information separates the winners from the losers in today’s information economy. However, all too frequently, knowledge workers fail to make the right decisions because the data that forms the basis of their analysis is incomplete or inaccurate. This paper explores the price of poor data and how senior executives can de-risk their enterprise by giving employees the information they need to make smarter decisions that drive business growth.
‘
75% of decisionmakers admit to having made bad decisions because of bad data.
’
Harris Interactive
A study by Harris Interactive reveals that 75% of knowledge workers admitted to having made business decisions that later turned out to be wrong because of poor quality data. In monetary terms, the cost of not having information is $48,000 per week for enterprises with 1,000 employees (Source: IDC). So how did we get here especially when worldwide spending on information technology is now in the trillions of dollars? The short answer is organizations have spent more money on technology infrastructure and an insufficient amount on turning poor data into actionable and relevant information. The Power of Analytics It comes as no surprise that the enterprises that have invested in giving their knowledge workers the tools to interact with and share data are 2.2 times more likely to outperform their peers including generating 1.6 times more revenue (Source: IBM). The reason is tools such as analytics connect employees with information resulting in improved decision-making and operational efficiencies. For example, when analytics involve other departments, knowledge workers no longer work in silos. In addition, by streamlining disparate reporting systems and data feeds, enterprises improve the quality of information while reducing infrastructure technology costs. However, most knowledge workers continue to work in departmental silos because their organizations lack both an enterprise-wide business intelligence strategy and a culture that does not promote collaboration. Well run enterprises are those that value data analytics to provide knowledge workers and decisionmakers with a complete 360-degree view of their organizations – providing an holistic view of their products, supply chain, employees, customers and services – whenever they want, from any device, at any time. Data in the Cloud Cloud computing allows IT departments to focus on managing information and less on technology while giving employees the information they need to make smarter decisions. This is critically important taking into consideration the average company now has 2.5 times more data than it did just three years ago – and it’s expected to grow x10 in the next four years (Source: Aberdeen Group).
[email protected]
•
www.rosslynanalytics.com
2
WHITE PAPER
Four Proven Ways to Accelerate Business Growth Using Cloud Analytics However, the data that exists in most enterprises is often inaccessible, inconsistent, unconnected, uncategorized and incomplete. The consequences are costing businesses billions:
• • • •
Failure to identify and exploit unrecognised business opportunities Inability to anticipate and mitigate unidentified business risks Missing out on opportunities to cut costs, drive revenues and increase profit Preventing knowledge workers from collaborating on problem solving
Not surprisingly, organizations are actively embracing the cloud to address these concerns because expensive enterprise business intelligence solutions have developed a deserved reputation for costing too much, taking too long and still not producing the desired outcomes. Fewer than 30% of business intelligence projects meet the objectives of the business (Source: Gartner). Data-Centric Approach to Business Growth Rosslyn Analytics, based on feedback from its customers, has developed a short-list of four ways “challenger” organizations are taking a much more data-centric approach to their businesses using cloud analytics. 1) Mitigate supplier-centric risks by assessing, identifying and monitoring business concerns 2) Respond faster to fluid market conditions as a result of unforeseen catastrophic supply chain events 3) Increase margins through greater visibility of operations including purchasing and finance 4) Boost employee productivity with better reporting and analysis of business critical information Let’s look at each of these scenarios in greater detail in the context of real-world examples. Mitigate Supplier-centric Risks Many companies have invested significant resources into optimizing their supply chains. While they have cut costs and improved efficiency, they may have also inadvertently exposed themselves to greater risks especially if they have rationalized the number of suppliers. That means that if one supplier fails, it will have massive ramifications on operations. For this reason, companies should continuously look at the credit risk scores of key suppliers. Respond Faster to Fluid Market Conditions The rapid pace of change dictates that businesses continually monitor and adapt to take into account new economic, political and social realities. From assessing a bank’s risk position to a manufacturer finding alternative suppliers following a natural disaster, organizations need as much relevant information delivered to decision-makers in as timely manner as possible. Having the right business intelligence is crucial in remaining competitive and staying ahead of the game in corporate matters.
[email protected]
•
www.rosslynanalytics.com
3
WHITE PAPER
Four Proven Ways to Accelerate Business Growth Using Cloud Analytics Increase Margins Through Greater Visibility of Operations High performance organizations understand the importance of taking an holistic view in order to tactically deliver cost and efficiency savings. By obtaining a centralized view of operations such as procurement, for example, knowledge-workers are in a better position to reduce employee fraud, negotiate better deals from suppliers and improve performance management processes. Boost Employee Productivity Information flows freely and quickly across the world. Businesses need an effective strategy for capturing and sharing information so decisions can be made quickly to avoid disasters and to take advantage of market opportunities. Analytics facilitates the collaboration and sharing of information while reducing the inefficiencies of asking for information multiple times such as which of your suppliers are off-contract. The centralization of enterprise data, readily available to everyone, boosts employee productivity. The Future of Business The growing performance gap between companies that can manage and exploit their data for competitive advantage, and those that are overwhelmed by information, continues to widen at an accelerated pace. Those organizations that successfully navigate these challenging, yet exciting times, will in the first instance, be challengers that openly embrace emerging technologies such as cloud-based analytics to get a head start on the competition. The leaders of these challenger brands recognize the value of information and the importance of getting the right information directly into the hands of their knowledge-workers. They are the catalyst to business growth – just like you. Is my Organization Ready? Is your company ready for these changing times? Here are five questions to ask your business leaders:
• • • • •
Does my organization put data at the heart of the decision-making process? Does my organization’s business intelligence strategy include big data? Does my organization have plans to invest in self-service analytics? Does my organization have plans to eliminate inefficient business processes? Does my organization have plans to promote collaborative decision-making?
[email protected]
•
www.rosslynanalytics.com
4
WHITE PAPER
About Rosslyn Analytics
Data Management. Analytics. BI Apps.
Discover
Integrate
Cleanse
Analyze Enrich
Visualize
BI Apps
One Platform
Where Data Means Business Driven by its mission to bring dynamic data analysis and real-time decision making to business organizations and government entities around the world, Rosslyn Analytics is a SaaS BI vendor that develops and markets the award-winning RAPid data management and analytics platform. Focused on the preparation and management of analytics ready data, RAPid is the industry’s only cloud-based solution to integrate data management and analytics capabilities via a single platform enabling customers to not only accelerate and automate the process of data integration, cleansing and enrichment from both internal and external sources but also to empower businesses to customize reports and dashboards at a fraction of the cost and time associated with traditional approaches. Through its unique combination of business, software and data expertise, customers work with Rosslyn Analytics to realize previously unobtainable benefits that generate new opportunities from their data, drive deeper business understanding and improve competitive performance. Rosslyn Analytics is a privately held company, headquartered in the UK with operations in London, UK and New York, USA and maintains a global partner network which includes ISVs, systems integrators, solution providers as well as industry specialist business intelligence consultants.
Corporate Headquarters
US Office
25 Eccleston Place London SW1W 9NF UK T: +44 (0) 203 285 8008
6th Floor 845 Third Avenue New York, NY 10022 USA T: +1 646-290-5246
[email protected]
•
www.rosslynanalytics.com
5
Four Proven Ways to Accelerate Business Growth Using Cloud Analytics A Rosslyn Analytics White Paper
[email protected]
•
www.rosslynanalytics.com
WHITE PAPER
Four Proven Ways to Accelerate Business Growth Using Cloud Analytics Timely access to critical information separates the winners from the losers in today’s information economy. However, all too frequently, knowledge workers fail to make the right decisions because the data that forms the basis of their analysis is incomplete or inaccurate. This paper explores the price of poor data and how senior executives can de-risk their enterprise by giving employees the information they need to make smarter decisions that drive business growth.
‘
75% of decisionmakers admit to having made bad decisions because of bad data.
’
Harris Interactive
A study by Harris Interactive reveals that 75% of knowledge workers admitted to having made business decisions that later turned out to be wrong because of poor quality data. In monetary terms, the cost of not having information is $48,000 per week for enterprises with 1,000 employees (Source: IDC). So how did we get here especially when worldwide spending on information technology is now in the trillions of dollars? The short answer is organizations have spent more money on technology infrastructure and an insufficient amount on turning poor data into actionable and relevant information. The Power of Analytics It comes as no surprise that the enterprises that have invested in giving their knowledge workers the tools to interact with and share data are 2.2 times more likely to outperform their peers including generating 1.6 times more revenue (Source: IBM). The reason is tools such as analytics connect employees with information resulting in improved decision-making and operational efficiencies. For example, when analytics involve other departments, knowledge workers no longer work in silos. In addition, by streamlining disparate reporting systems and data feeds, enterprises improve the quality of information while reducing infrastructure technology costs. However, most knowledge workers continue to work in departmental silos because their organizations lack both an enterprise-wide business intelligence strategy and a culture that does not promote collaboration. Well run enterprises are those that value data analytics to provide knowledge workers and decisionmakers with a complete 360-degree view of their organizations – providing an holistic view of their products, supply chain, employees, customers and services – whenever they want, from any device, at any time. Data in the Cloud Cloud computing allows IT departments to focus on managing information and less on technology while giving employees the information they need to make smarter decisions. This is critically important taking into consideration the average company now has 2.5 times more data than it did just three years ago – and it’s expected to grow x10 in the next four years (Source: Aberdeen Group).
[email protected]
•
www.rosslynanalytics.com
2
WHITE PAPER
Four Proven Ways to Accelerate Business Growth Using Cloud Analytics However, the data that exists in most enterprises is often inaccessible, inconsistent, unconnected, uncategorized and incomplete. The consequences are costing businesses billions:
• • • •
Failure to identify and exploit unrecognised business opportunities Inability to anticipate and mitigate unidentified business risks Missing out on opportunities to cut costs, drive revenues and increase profit Preventing knowledge workers from collaborating on problem solving
Not surprisingly, organizations are actively embracing the cloud to address these concerns because expensive enterprise business intelligence solutions have developed a deserved reputation for costing too much, taking too long and still not producing the desired outcomes. Fewer than 30% of business intelligence projects meet the objectives of the business (Source: Gartner). Data-Centric Approach to Business Growth Rosslyn Analytics, based on feedback from its customers, has developed a short-list of four ways “challenger” organizations are taking a much more data-centric approach to their businesses using cloud analytics. 1) Mitigate supplier-centric risks by assessing, identifying and monitoring business concerns 2) Respond faster to fluid market conditions as a result of unforeseen catastrophic supply chain events 3) Increase margins through greater visibility of operations including purchasing and finance 4) Boost employee productivity with better reporting and analysis of business critical information Let’s look at each of these scenarios in greater detail in the context of real-world examples. Mitigate Supplier-centric Risks Many companies have invested significant resources into optimizing their supply chains. While they have cut costs and improved efficiency, they may have also inadvertently exposed themselves to greater risks especially if they have rationalized the number of suppliers. That means that if one supplier fails, it will have massive ramifications on operations. For this reason, companies should continuously look at the credit risk scores of key suppliers. Respond Faster to Fluid Market Conditions The rapid pace of change dictates that businesses continually monitor and adapt to take into account new economic, political and social realities. From assessing a bank’s risk position to a manufacturer finding alternative suppliers following a natural disaster, organizations need as much relevant information delivered to decision-makers in as timely manner as possible. Having the right business intelligence is crucial in remaining competitive and staying ahead of the game in corporate matters.
[email protected]
•
www.rosslynanalytics.com
3
WHITE PAPER
Four Proven Ways to Accelerate Business Growth Using Cloud Analytics Increase Margins Through Greater Visibility of Operations High performance organizations understand the importance of taking an holistic view in order to tactically deliver cost and efficiency savings. By obtaining a centralized view of operations such as procurement, for example, knowledge-workers are in a better position to reduce employee fraud, negotiate better deals from suppliers and improve performance management processes. Boost Employee Productivity Information flows freely and quickly across the world. Businesses need an effective strategy for capturing and sharing information so decisions can be made quickly to avoid disasters and to take advantage of market opportunities. Analytics facilitates the collaboration and sharing of information while reducing the inefficiencies of asking for information multiple times such as which of your suppliers are off-contract. The centralization of enterprise data, readily available to everyone, boosts employee productivity. The Future of Business The growing performance gap between companies that can manage and exploit their data for competitive advantage, and those that are overwhelmed by information, continues to widen at an accelerated pace. Those organizations that successfully navigate these challenging, yet exciting times, will in the first instance, be challengers that openly embrace emerging technologies such as cloud-based analytics to get a head start on the competition. The leaders of these challenger brands recognize the value of information and the importance of getting the right information directly into the hands of their knowledge-workers. They are the catalyst to business growth – just like you. Is my Organization Ready? Is your company ready for these changing times? Here are five questions to ask your business leaders:
• • • • •
Does my organization put data at the heart of the decision-making process? Does my organization’s business intelligence strategy include big data? Does my organization have plans to invest in self-service analytics? Does my organization have plans to eliminate inefficient business processes? Does my organization have plans to promote collaborative decision-making?
[email protected]
•
www.rosslynanalytics.com
4
WHITE PAPER
About Rosslyn Analytics
Data Management. Analytics. BI Apps.
Discover
Integrate
Cleanse
Analyze Enrich
Visualize
BI Apps
One Platform
Where Data Means Business Driven by its mission to bring dynamic data analysis and real-time decision making to business organizations and government entities around the world, Rosslyn Analytics is a SaaS BI vendor that develops and markets the award-winning RAPid data management and analytics platform. Focused on the preparation and management of analytics ready data, RAPid is the industry’s only cloud-based solution to integrate data management and analytics capabilities via a single platform enabling customers to not only accelerate and automate the process of data integration, cleansing and enrichment from both internal and external sources but also to empower businesses to customize reports and dashboards at a fraction of the cost and time associated with traditional approaches. Through its unique combination of business, software and data expertise, customers work with Rosslyn Analytics to realize previously unobtainable benefits that generate new opportunities from their data, drive deeper business understanding and improve competitive performance. Rosslyn Analytics is a privately held company, headquartered in the UK with operations in London, UK and New York, USA and maintains a global partner network which includes ISVs, systems integrators, solution providers as well as industry specialist business intelligence consultants.
Corporate Headquarters
US Office
25 Eccleston Place London SW1W 9NF UK T: +44 (0) 203 285 8008
6th Floor 845 Third Avenue New York, NY 10022 USA T: +1 646-290-5246
[email protected]
•
www.rosslynanalytics.com
5
