A specific type of business analytics, operational analytics is associated with the data businesses need to improve their existing operations. Capgemini found that companies are beginning to view it as a strategic priority; in fact, more than 80% of their survey respondents agree that operational analytics “plays a pivotal role in driving profits or creating competitive advantage.”
By utilizing data mining tools, businesses gain transparency into their operations and make better decisions. The key is to have access to real-time data and complete transparency into business processes and customer behaviors. It is only with the most up-to-date information that businesses can see specifically how their day-to-day operations function and then make the appropriate adjustments to improve the bottom line and customer satisfaction.
Get operational analytics at your fingertips with NGDATA’s AI-powered CDP, our next generation customer data platform. Get in touch via email or phone to speak with an NGDATA representative directly.
Enterprises Reap the Benefits of Operational Analytics
One industry taking advantage of the benefits of operational analytics is manufacturers. In fact, Capgemini also found that manufacturing organizations that utilize Big Data realize significant savings: an estimated $117 billion in benefits around the globe. Manufacturers especially benefit from focusing on operations because the insights gleaned can help reduce downtime, improve productivity, improve forecasting accuracy, maximize capacity, and increase flexibility in response to external events.
But, manufacturing is not the only industry realizing substantial benefits. Separate studies have found that analytics initiatives aimed at operational improvements across industries jumped from 26% in 2013 to 70% in 2016. Companies may claim to have put these initiatives in place, but other studies have shown that companies are not following through: one survey found that only 39% of respondents have extensively integrated their initiatives with their business processes, and only 29% say their operational analytics initiatives have delivered the desired results.
The disparity between companies’ intentions and actual actions lies in their data and analytics software solutions. Companies that rely on siloed data cannot get the clear and concise picture they need to realize any real benefits. Other companies have poor quality data, and their analytics can only be as strong as the data itself. Still other companies rely on software solutions that do not operate in real time and cannot deliver actionable insights. That’s where NGDATA’s CDP comes into play. The NGDATA CDP, the next generation customer data platform, is a single solution for business intelligence, operational analytics, and customer experiences that gathers and integrates data from across all channels to generate insights from analytics and assist you in making the best data-driven decisions for your operations and your customers.
Get more from your data with NGDATA’s AI-powered CDP, the next generation customer data platform and advanced operational analytics solution. Get in touch via email or phone to speak with an NGDATA representative directly.
Benefits of Using NGDATA’s AI-powered CDP for Your Operational Analytics
Capgemini also found that companies leading the pack are taking steps that other companies are not. Namely, game changers are doing four things that others do not:
- Integrating data to achieve a single view of operations data
- Routinely collecting unstructured data to improve data quality
- Using external data to enhance insights
- Having a high utilization of operations data
If companies that are lagging behind want to remain competitive, they will need to implement an analytics solution like NGDATA’s CDP. It’s a next generation customer data platform that integrates data across all channels to generate insights, giving companies a holistic view into their customers to understand how their behaviors impact operations. In fact, NGDATA’s CDP also integrates real-time customer interactions from all sources to provide an individual customer view with insights on historical and real-time interactions.
Specifically, NGDATA’s CDP has all the capabilities companies need to have access to real-time data and operational analytics:
- Collects and stores data from all sources, structured or unstructured, and in batch or in real time
- Builds individual customer profiles that utilize ingested data in dynamic attributes and scores, calculates, and updates them in real time
- Turns integrated data from all sources into actionable insights by supplying the tools necessary for monitoring the customer experience in real time and to intervene when opportunities present themselves
- Features omni-channel orchestration of compelling customer experiences
- Personalizes each customer’s experience and utilizes smart videos and next best offers
Turn your data into powerful, actionable operational insights with NGDATA’s AI-powered CDP, the next generation customer data platform and advanced analytics solution. Get in touch via email or phone to speak with an NGDATA representative directly.
NGDATA’s CDP has the Advanced Technology and Capabilities Necessary for Delivering Operational Analytics
Operational analytics hinge on high-quality data from all sources, but not all analytics solutions have the advanced technology capable of integrating data or delivering real-time insights like NGDATA’s CDP can. At the base of the NGDATA CDP is the Cloudera or Hortonworks Hadoop platform, which means it can consider the entire Hadoop stack and all data streams, from data warehouses and data lakes, to CRM systems and social media activities. NGDATA’s CDP then combines all data streams into a cumulative, organized, actionable solution capable of delivering predictive analytical models in real time to create individual customer profiles, or Customer DNA, and a holistic view of your operations.
The NGDATA CDP also provides data frames export that integrates with external analytical workbenches and supports the configuration of predictive models created externally into the CDP so they can be executed in real time. Additionally, the NGDATA CDP supports real-time model scoring, including those developed in R, SAS, and SPSS, alongside its built-in preference learning engine.
Overall, NGDATA’s AI-powered CDP has the technology modern enterprises need to gain actionable insights and boost operational efficiency and effectiveness. Specifically, NGDATA’s CDP:
- Automatically transforms raw interactions into detailed customer profiles
- Unlocks valuable customer data sitting in silos
- Makes customer and operational analytics actionable in real time
- Drives business value use cases across marketing, content, and advertising
- Features quicker deployment, faster results, and a more affordable cost compared to self-build projects
- Provides powerful data modeling and predictive analytics that create real-time business value
Companies choosing NGDATA’s AI-powered CDP don’t just get a solution for customer experience analytics. Rather, they get an analytics solution that delivers accurate, real-time insights that assist companies in making data-driven decisions and taking immediate action to improve operations and deliver personalized customer interactions. You will unlock all of your data and gain the transparency you need into your operations and customers with the NGDATA CDP.
Get real-time insights on customers and trends with NGDATA’s AI-powered CDP, the next generation customer data platform and advanced operational analytics solution. Learn more about how the NGDATA CDP can transform your business by getting in touch via email or phone to speak with an NGDATA representative directly.