Organizations able to take advantage of the new generation of business analytics solutions can leverage digital transformation to adapt to disruptive changes and to create competitive differentiation in their markets.
(PRWEB UK) 20 October 2016
In May this year, IDC forecast that worldwide revenues for big data and business analytics will grow from nearly $122 billion in 2015 to $187 billion in 2019 in its Worldwide Semiannual Big Data and Analytics Spending Guide. Dan Vesset, Group Vice President of Analytics and Information Management at IDC said: “Organizations able to take advantage of the new generation of business analytics solutions can leverage digital transformation to adapt to disruptive changes and to create competitive differentiation in their markets. These organizations don’t just automate existing processes – they treat data and information as they would any valued asset by using a focused approach to extracting and developing the value and utility of information.”
Nick Clarke, Head of Analytics at Tessella explained: “We certainly feel we are living proof of IDC's predictions. In an increasingly data driven environment, organizations are looking to reap the benefits of data analytics to reduce costs, increase profits and out-innovate the competition. The surge in demand we’ve experienced confirms our belief in the success of our Tessella Analytics Partnership and the need for the right people. On-demand access to the right people with the right skills at the right time is often the crucial difference between success and failure for analytics projects.”
Alan Bell, Life Sciences Sector Director at Tessella added: “Looking at the pharmaceutical industry, there is often a high percentage of failures with clinical trials that are caught too late, and by then the financial cost has already been incurred. The drug development process can often be very costly, however many pharmaceutical companies now use data analytics to reduce these failures which consequently reduce cost, and increase efficiency.
“Data analytics is also increasingly enabling pharma companies to explore opportunities that may previously not have been spotted, and enable more discoveries, for example when Pfizer was close to abandoning an ineffective treatment for angina it noticed other side effects, and the drug became Viagra, the fastest selling drug ever. Life sciences have long been ahead of the game in data analytics and continues to take advantage as new breakthroughs become ever more complex. It will be interesting and encouraging to witness what else can be achieved in the next few years as a result of it.”
Keith Norman, Consumer Industries Sector Director at Tessella said: “The sheer scale of opportunities that data analytics can offer consumer industries today is huge. Organizations that already have access to growing data sets can use them to not only tailor products and services but to create a more personalized experience for customers. They can also use them to help improve internal operations to ensure sales teams, for example, have the best information at hand.
”Businesses already know that the right insights can lead to commercial value, however it’s about having the best opportunities to spot them, which often involves having experienced people there who are able to understand the intricacies of analytics, the technology, and the industry – all at the same time.”
Tessella, Altran’s World Class Center for Analytics, is part of the Altran Group, a global leader in Engineering and R&D Services. Tessella uses data science to accelerate evidence-based decision making, allowing businesses to improve profitability, reduce costs, streamline operations, avoid errors and out-innovate the competition.
Innovative problem solvers and passionate about science and technology, Tessella is committed to excellence and to its clients’ success. Tessella delivers innovative and pragmatic answers to some of the most important and ambitious challenges of the world’s most forward-thinking organizations. http://www.tessella.com/analytics/analytics-partnership/