The power and brilliance of how data continues to transform industries worldwide is there for all to see. And when you look at the likes of Google and Facebook who have taken advanced analytics to a whole new level, that’s even apparent.
“Often you may have experienced or heard of some senior managers or directors wanting to achieve similar scale work to the big tech companies at their own organisation. But they have to ask themselves if the type and scale of analytics at the tech giants is right for them,” questions Dr. Paul van Loon, Head of Analytics at Forecast.
“In a world where up to 95% of data is wasted in some industries, there might be higher value in going for the basics first and making sure data is captured and integrated together to provide insights. At Forecast, we refer to it as the Analytics Maturity Curve,” continues van Loon.
In this video, Fyte’s Ali Hussnain talks to Dr. Paul van Loon about the potential for organisations to unlock data and optimise their strategic decision making.
Manageable and measurable
While Van Loon acknowledges the benefit of an awareness of what it would take to build Amazon-like analytics, he believes the best way to reach that level of maturity is through starting the journey with bite-sized pieces of work.
“We like to describe ourselves as a client-intimate business,” he says. "For us it’s more important to maintain a meaningful relationship with clients by delivering cost effective and cost-efficient work with meaningful results. And that means providing high value ROI from the start.”
Forecast aims to pair quantifiable results with cost efficient solutions. As van Loon notes, “Without promising the world in multimillion-pound projects that will take years to implement, it might be better to get a couple of people in to showcase what can be achieved and take it from there. ‘A journey of a thousand miles begins with a single step’, as the saying goes.”
Here Paul van Loon tells Ali Hussnain about how Forecast works with its clients, ensuring that project work is both manageable and measurable.