The digital revolution has led us to this point in time, where technology has pervaded every facet of our lives. Between our personal and our professional lives, we as a species created an average 2.5 quintillion bytes of data each day, in 2020. The number has risen exponentially since then, with IoT devices contributing to the volume and complexity of data generated.
Organizations have to operate within this technological landscape to remain competitive. But you are not really gaining a competitive edge until you are monetizing the data you are generating and capturing. And unless your organization has the resources to support a full-time analytics team, analytics outsourcing remains the answer to capitalizing on your data.
And with data surpassing oil as the most valuable resource, big data analytics consulting has witnessed a growth in not just a demand for the services but the revenue being generated annually.
From USD 122 billion in 2015 to USD 274.3 billion in 2022, this massive surge has been fueled by a drive toward digital transformation, the demand for data visualization dashboards, and the increasing adoption of cloud architecture.
But data consulting is no longer about simply gaining actionable intelligence that offers an edge, but about survival in a constantly evolving ecosystem. Analytics offers an indispensable cross-functional advantage across the organization, from strategy, marketing, and sales, to operations, IT, and HR.
When a company is faced with the challenge of using advanced analytics solutions to analyze large volumes of data and gather actionable intelligence in real-time, the task is outsourced to an external Big Data Consulting firm.
The service provider analyzes the company’s data and collaborates to create data solutions, allowing the company to focus its resources on optimizing operations based on the intelligence received, and maximizing ROI.
They transform unstructured data into an easily comprehensible roadmap, that you can use to understand the company’s performance at every stage of operation – from R&D to sales and to better understand your customer base and the demographics you cater to.
Depending on the project, the big data analytics consultants will be formulating strategies to gather data from different sources, structure the data, mine and analyze it for insights, and then present the data and intelligence through performance models and projections.
Data analytics can be useful in almost every enterprise that generates a substantial amount of data. Whether it is the large amounts of data in the telecom sector, healthcare, e-commerce or big data in finance, a data analyst can find ways to mine the data for unique insights.
Data analytics consulting happens to be a wide field where there are analytics practitioners and analytics consultants. The practitioners have the technical know-how to analyze the data, but the consultants who are a rung higher in the hierarchy, have the requisite consulting skills that you need. The soft skills for high-level problem-solving, clear communication, and presentation, develop with experience, and their experience is what you need to value.
When you employ the services of an analytics consultant, the consultant will understand your requirements, develop a custom solution, manage the life-cycle of the project and present you with the insights.
The consultant will need to access your company’s existing database and capabilities, to be able to develop the solution and deliver the insights while maintaining timelines, budget, and company policies. Data analysis can also help you to identify new business opportunities that your company can benefit from.
Collecting data has no benefits unless you have an analytics roadmap set up for analyzing the data, and gathering intelligence that can help build and run your company better. A consulting service takes care of your data analytics requirements and offers a number of benefits that your company can experience.
Some of the basic skills and technical knowledge that a data analytics consultant must possess include Microsoft Excel, SQL, and R programming skills, and data visualization capabilities.
The skills you need to value the most are problem-solving, communication, and presentation. The following are steps that a skilled analytics consultant will take while tackling any problem and then presenting the optimal solution.
In the constantly evolving digital landscape, you are interacting with individuals and other enterprises. Business analytics consulting at Course5 Intelligence allows you to study that data and monetize the insights gathered.
We offer a wide range of analytics services from Digital Analytics and Customer Analytics, to Marketing Analytics, Supply Chain Analytics, and more. These are solutions created for addressing any situation that may arise within your company – from better understanding your customers and their journey across touchpoints, to Natural Language Solutions designed to decipher unstructured data and find value.
We can help you manage your data, access actionable insights in real time, and experience a tangible business impact from robust analytics.
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