Advitech has added a new capability to our already varied offering. We can now offer clients advanced analytical methods to inform better decisions, following the recent appointment of applied mathematics specialist, Dr Hamish Waterer.
Data analytics can be viewed as a continuum. Your business’s position on the continuum reflects the business’s level of data maturity. At one extreme there are those businesses that are entirely reactive. They can only sense challenges as they arise and therefore can only respond after the fact. At the other extreme there are those businesses that are proactive. They have evolved their analytics capabilities to the point that they can accurately predict upcoming challenges sufficiently ahead of time that they then have time to prepare an appropriate and timely response.
Developing your business’s data analytics capability is a journey, a journey that Advitech will take with you. A prerequisite to embarking on this journey is that your business has data. If your business doesn’t yet have sufficient data, then Advitech can help with that. We will work with you to identify what data are needed and recommend smart, practical, and affordable ways of obtaining that data.
Once your business has the necessary data, Advitech will help you transform your data’s potential into “data power”. After reaping any low hanging fruit, further value can be extracted either by analysing more complex data or by using more advanced analytical techniques. By increasing the degree of analytical capability or “data intelligence” in your business, you will increase the productivity, and thus the competitive advantage of your business.
There are broadly two stages to your business’s analytics journey, operational and advanced. Operational analytics, consisting of descriptive and diagnostic analytics, analyses the past. Advanced analytics, consisting of predictive and prescriptive analytics, analyses the future. These different stages are evidenced by the tools used (historical reporting, dashboards, alerts, and more advanced analytical tools) and the nature of the insight (blindsight*, hindsight, foresight, and oversight). The following diagram illustrates the stages of your business’s analytics journey.