“You must be focused on what you want to get out of big data or you can spend too much time analysing it. Rather than trying to make use of every single piece of information it is possible to gather, you must get actionable insight.”
Natalie Henty,
CRM
Wickes
For the Technologist
It’s been statistically proven that data mining for operational insight has quantifiable business impact.
Economists at MIT studied 179 large, publicly-traded firms and found that those that emphasize decision-making based on data and analytics performed 5-6% better than those that relied on intuition and experience.
Seems obvious, but if it’s so true, then why do nearly one in four survey respondents in an Economist Intelligence Unit study say that the vast majority of their company’s data is untapped and another 53% say they only use about half of their valuable data?
We believe it is because current analytic solutions haven’t addressed the new technological challenges of today’s big data problems. Survey respondents ranked their challenges this way:
- 56% - Data is still frequently trapped in silos or inaccessible.
- 51% - There is a shortage of skilled people to analyze the data.
- 44% - The analysis takes too long.
- 42% - Unstructured content, like that from social media, is difficult to interpret.
Quant5 Customer Analytics solves these challenges and more in a new, 2.0 approach. We have broken the problem down into three key areas:
Leveraging new analytic tools: Using new tools and machine-learning science to create an open analytic platform designed for the new volumes and varieties of data that businesses work with today.
Intelligent ETL: Developing faster ways to extract, transform and load your data to achieve the best analytic base of study, all in the cost-effective environment of the Cloud.
Experts: Providing ready sources of expertise, from the Professional Services team at Quant5 to the members of our statistically-trained community, though support for a non-proprietary, easily-customizable analytic platform.