In the midst of a recent TIBCO Analytics world tour, I had the opportunity to sit down with industry veteran Eric Kavanagh for a webcast with Inside Analysis. For those of you who don’t know, Eric is a longtime associate and man of many hats—CEO and senior analyst with The Bloor Group, host of Information Management’s DM Radio webcast, and an advisor to the United Nations on eGovernment initiatives, just to name a few—though his roots stretch back to the days of ancient data warehousing and covering “Big Data” in various capacities before it was hip.
The main focus of our conversation was about how businesses are creating significantly faster, richer insights from analytics and then applying the results to influence decision-making and generate better business outcomes. You can listen to the full 30-minute segment here. Our discussion focused on several important topics, ranging from the modern starting point for most organizations adopting analytics, to the ways analytics is being applied across different industries, and the power of visualization to understand not only static reports, but data in motion, in order to predict and change the course of business and yield better results.
From a broad view, an organization that still hasn’t adopted an analytics competency—or doesn’t have strong progress in this direction—could fuel many missed opportunities to put data to work in creating new value for customers, suppliers and all stakeholders. To be clear, not everyone within the business needs full-scale analytics, all the time. That is, providing just the right amount of data and insight, within the right context, to the right person and at the right moment so the best action can be taken while they’re still in a position to do so—what we at TIBCO call Fast Data—is the goal. An unfortunate statistic reflecting this misunderstanding of how to apply analytics within the enterprise:, best case, only 25% of knowledge workers presently use any kind of analytics tool to analyze any amount of data whatsoever. How much missed opportunity results from the other 75% being analytics deprived? Organizations can’t afford to sit on the sidelines any longer.
The lesson to the analytics community over the past decade has become clear: we must reach everyone with the right amount of analytics, regardless of skill level. This logic eschews a “one size fits all” approach forcing users to adopt tools that weren’t naturally fitting with their workflow. Instead, it requires complementary solutions that put powerful enterprise-grade analytics tools in the hands of specialists, such as data scientists or statisticians, while embedding powerful and fluid analytics within the dashboards and system-of-record applications that line of business users consume as part of their daily routines. TIBCO is well-positioned as a leader in this space with our deep roots in complex event processing and integration, as well as mastering the contemporary analytics boom with products like Spotfire for advanced or guided hands-on exploration and predictive modeling, and Jaspersoft for embedded or self-service dashboards. Ultimately, success results when analytics becomes a thing that we do, not a place that we go. Whether it’s richer data for greater understanding over time, or faster data for taking advantage of in-the-moment opportunities, TIBCO has a solution to help transform your organization based on the Digital Difference.
For more information, register to hear the full webcast or read the full transcript.