Prior to the COVID-19 pandemic, business leaders increasingly embraced advanced analytics and artificial intelligence (AI), and for good reason. These capabilities are expected to offer between $9.5 trillion and $15.4 trillion in annual economic value.
“But under the present circumstances, data and analytics teams are strained to deliver against expectations and need to develop new ways of thinking. In particular, it’s difficult to adapt to change and transform go-to-market strategies by merely looking for solutions in marketing dashboards.
via Digital Polymath
More informed healthcare executives will apply artificial intelligence (AI) strategies to leverage this new technology in five core areas that improve decision making during the current pandemic, according to the latest worldwide market study by Gartner.
“We are now equipped with advanced technology capable of things unimaginable even a generation ago. Therefore, the best strategy for managing the virus should rest on everything that makes today’s world smart: data, information, and technology.”
via INSEAD Knowledge
The use of near- and real-time analytics to collect CX data is a rising trend among growth companies, with 43 percent of product managers at growth companies using analytics to collect and analyze customer perception and sentiment data.
As companies recover from the closure, they will need to apply insights to improve their chances of success. The recovery will be an opportunity to implement new technologies and redefine business processes. Data literacy is a key element to ensuring that employees are “future fit.”
61% of data and analytics decision-makers adopting AI had implemented, were in the process of implementing, or were increasing their use of automation-focused machine-learning solutions — 25% plan to implement within the next year.
Growing at a compound annual growth rate (CAGR) of 15.4 percent, the active installed base of airport asset tracking systems is estimated to reach close to 0.5 million units worldwide in 2024.
Top-performing Chief Executive Officers (CEOs) have seized the data advantage and primed their organizations to prosper in the Insights era. Such organizations are markedly more flexible, more innovative, and more profitable than their peers.
via IBM IBV
The global advanced analytics market size is forecast to reach $59.1 billion by 2027, registering a CAGR of 25.3%. The extensive usage of advanced analytics in database management tools is expected to be a key factor influencing market growth.