Take a good look at the graphic above, courtesy of Adobe. In it, you see that data translates into value, such as improved ROI, but only when viewed through the lens of analysis and translated into action. So, what are the keys to analytics that produce ROI?
Keys to analytics #1. Deriving insights The #1 key to analytics is deriving insights from the data. But data is just a bunch of numbers, words, and images. And, we produce tons of it every year. In fact, we produce 2.5 quintillion bytes of information per day, on average. To put that in perspective, 90% of the data in existence in the world today was produced in last 2 years, according to IBM. Most of that data is unstructured, meaning it is something other than numbers: images, words, video. Analysis of unstructured data is particularly difficult.
Author: Angela Hausman