Data Analytics Consulting
In a digital world, businesses and consumers are surrounded by a constant, dynamic stream of data. Becoming a data-driven organization allows this data to be leveraged to achieve transformation and intelligent business processes, but extracting valuable, accurate data efficiently remains a challenge for many leaders.
Effective use of data and analytics requires organization-wide, data-driven transformation, incorporating intelligent data governance and extracting data from silos, upskilling or hiring talent, transforming workplace culture and workforce mindsets, and utilizing appropriate data assets. With these enablers in place, data and analytics is a key pillar for driving business growth and increasing value.
Seamlessly adopting a new way of working requires employees to be educated and supported, and all members of the organization must be driven toward the same vision of sustainable, data-driven success. This transformation must be embedded into all aspects of the business, instead of limited to teams primarily dealing with data and analytics. Cognitute’s data analytics consulting framework is designed to tailor craft superlative vision and foundation–anchored on this well-thought foundation are enablers and levers meant to generate superior strategic outcomes and to drive growth relentlessly.
Supply Chain Reinvention By Leveraging Supply Chain Analytics
Data is an essential pillar of successful digital transformation and facilitates a highly effective level of supply chain management for organizations. Supply chains that support the dynamic nature of a digital world require expert use of supply chain analytics, allowing data to be mined and utilized for proactive planning, valuable insight, and faster, data-driven decision-making.
Procurement analytics drive insightful decision-making, improved operations, increased value, and predictive budgeting through intelligent use of procurement data and advanced analytics.
Predictive Inventory Analytics
To anticipate and adapt to fast-paced change, organizations utilize predictive inventory analytics to evaluate future possibilities, allowing forward-thinking adjustments to adapt to new circumstances while continually gaining insight from past data.
Coordination and improvement of logistical functions are essential for efficient, cost-effective operations and movement of goods. Using logistics analytics creates optimized management of goods, services, and processes by integrating inventory, transportation, packaging, and flow of information.
Advanced Customer Analytics And Insights
A large proportion of business success hinges on customer action, creating a focus on data-driven decision-making to improve and personalize the customer experience. Advanced customer analytics creates a point of difference in the marketplace by improving customer loyalty and satisfaction.
Embedding customer analytics within products and services allows customers to feel informed and connected to a business, while additionally allowing customer actions to be guided to generate value. An embedded platform that fits seamlessly within the current workflow, while providing context-based insight, allows users to intuitively utilize analytics during decision-making.
Customer insights can now be automatically generated from customer data via technologies such as AI, allowing valuable information to be readily available to guide business decisions. Industry leaders leverage customer insights to make more intelligent decisions, including infusion of customer analytics within the organization, allowing individualized insights to be accessible to all employees.
Behavioral analytics facilitates a deep level of understanding of users and customers in a customer-centric marketplace. The businesses successfully leveraging behavioral analytics show an 85% out performance in growth of sales, cementing a role as industry leaders. As digital channels become increasingly essential for marketing and brand reputation, leveraging these channels to become as effective and efficient as possible has become essential for a competitive digital advantage.
Customer Service Analytics
Brand loyalty hinges on customer satisfaction as a key factor for creating a positive public reputation that will lead to further customer acquisition. Bridging the gap between what a customer expects, and the customer service and support they receive, is critical for cutting-edge success against competitors within the industry. Delivering an optimal customer experience has become more accessible than ever as today's industry leaders implement customer experience strategies that utilize predictive technology and analytics to bridge the gap between customer expectations and the support they receive, thereby fostering brand loyalty and positive public reputation.
Customer service analytics allows businesses to leverage collection and analysis of customer feedback and the customer experience with the business while moving away from more traditional, survey-based systems. Interaction data contains insight regarding customer expectations, needs, and experiences, which is unlikely to be captured in a questionnaire. Measuring the performance and time efficiency of customer service teams through analytics allows leadership to create a streamlined process that optimizes customer service performance.
Consumer Sentiment Analytics
Intuitively perceiving the emotional states and responses of customers allows businesses valuable insight into how products, services, and brands are impacting the customer base. Through this improved scope, customer communication can be adapted to improve appropriateness and effectiveness, leading to a positive feedback loop of improved customer sentiment.
Customer sentiment analytics, using a series of algorithms and natural language processing to detect trends and patterns in text and online communications, allows the classification of customer opinions into positive, negative, or neutral. This classification is essential in times of crisis, such as recessions or the Covid-19 pandemic, to monitor brand reputation and customer needs throughout changing circumstances.
Compound Workforce Capabilities - People Analytics
In the past, businesses have overlooked the potential value contained within HR data, and the concept of “people analytics” was divorced from key people's decisions. Now, people analytics has risen to the forefront of executive priority, with more than two-thirds of business executives stating that people analytics is top-priority. This priority is reflected across large organizations, where the majority incorporate teams focusing on people analytics. People analytics functions are diverse across industries and organizations, with dynamic variety in team composition, size, and priorities.
Despite increased focus on HR technology and people data management, the majority of businesses remain at the beginning of the journey toward effective, integrated people analytics that delivers a lasting impact. Leading people analytics teams incorporate quality data with effective data management, expert analytics, and sharply honed operating models. This creates an industry-leading advantage, delivering sustained growth and success.
Visualize End-to-End Efficiency - Operational Analytics
Critical operations decisions are made by leaders across all aspects of the value chain, who must be able to adeptly respond to issues such as scheduling of maintenance, production planning, and budget requirements. To create a practical focus on data usage in business processes, industry leaders choose to utilize operational analytics to streamline the path from insight into innovative action.
Identification of weak points where the business may be losing value, or under-achieving, directs leadership focus towards insight-based action. To reduce delay and improve efficiency, instead of manually making data-driven decisions, operational analytics allows automatic action on data in areas such as automation, sales, website events, or advertising. Improving data models, improving the performance of marketing teams with reduced turnaround time, and using continuous analytics create a data feedback loop that provides a cutting-edge competitive advantage through continued insight and growth.
Empowering Strategic Decisions - Data Visualization
Aligning the understanding and vision of teams and individuals is essential for effective addressing of key issues within organizations. Without a focused alignment and solid understanding, businesses face the risk of reduced time efficiency, increased costs, and reduced incentive for innovative thinking across all levels of the organization.
Visual data displays are used by industry leaders to mitigate this hurdle, by allowing communication of data-driven insight and more complex data trends or relationships in a way that is easy to interpret and explain. Through data visualization, a stable foundation is established which increases team cohesion, highlights key points, and collects a variety of perspectives or possible solutions to drive innovation.
Analytics Ecosystem and Partnership
In the digital era of business, leaders have almost endless opportunities to transform processes and business models with evolving technology. However, just accessing these technologies is not enough for sustainable success—leadership teams must be well-versed in effectively harnessing new technology in order to increase value.
To reap the benefits of technology changes in a time-efficient, resource-light way, industry leaders choose to curate analytics ecosystems through partnerships with external experts or third-party companies. More than two-thirds of business leaders report that partnership through ecosystems is essential for sustainable success in the current business climate. Partnership allows businesses to align shared capabilities and combine resources and knowledge, producing an end-to-end analytics ecosystem that is capable of producing innovative services, new products, and reduced time-to-market.
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Our Data and Analytics Consultants
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