Analytics is a Journey of Progressive Value Creation and Competitive Advantage
Analytics is not just about implementing a set of technologies or solutions, although, this is a necessary foundation for end-users to get derive business value. Analytics is actually a journey from a hunch to the punch where data is iteratively and progressively analyzed by the user and the system to produce powerful insights and punchy actions to outflank competitors and improve profitability.
Progressing From Data to Information to Insights to Action to Wisdom
The prior figure depicts how clients can progressively get time critical insights and higher rewards. But the risks are also higher. The Analytics journey starts with Data and advances to Descriptive, Predictive and Prescriptive Analytics.
Delivering the Analytics Punch with Cognitive Computing
After the dramatic win at the Jeopardy contest, IBM Watson received considerable buzz in the industry as a supercomputer with unparalleled intelligence. This unfortunately gave the impression that implementing IBM Watson is exotic and complex.