Data analytics, the enabler of digital transformation Botswana Guardian
TW12. This is explained directly within For example, a baby is not going to one morning and start running 100 hy is digital transformation important?
Tavonga Muchuchuti 12. This The is baby’s explained going directly to start off within by wiggling he year 2023 has arrived with to drive innovation, organizations Most organisations find themselves For the example, floor, and a baby then is they not will going crawl, to new and exciting opportunities asking why they can should stay spend ahead millions of the one morning competition and start running 100 hy will try to walk and fall multiple times or dollars is digital investing transformation in these important? digital transin different realms of Pula of the busiand continue to provide The value baby’s to going their to start off can actually be able to jog, let alone by wiggling run. formations Most and organisations all these new find phenomenons themselves that
the floor, and then they will crawl, and ness world and technology asking continues why they should customers. spend millions since businesses are run by human
are coming up in the industry. will try to walk and fall multiple times to evolve at a rapid of pace. Pula or As dollars digital investing in these One digital example transof how means data that and businesses anagrow at a linear In order to fully understand the importance can
technology actually be grows able to at jog, an let exponential alone run. transformation continues formations to and change all these new lytics phenomenons can help that drive digital transforof digital transformation as an exercise that the since
Consequently, businesses are this run creates by human a big are coming up in the industry. the business terrain organisation and create needs efto take, mation it’s very is necessary through to the means use that of machine businesses grow at a linear
where technology is at as well as where look In order at the to progression fully understand of technology. the importance And this is ficiencies as well opportunities, technology is at, intelligence. at given grows points at an in exponential time. This is of digital transformation it is as learning an exercise and that the artificial
best explained by three fundamental laws, which Consequently, this creates a big gap companies at the forefront organisation of needs techto take, These very technologies necessary to can creates help room organizafor disruption. are: the Moore’s Law, the Butters’ it’s Law as well as
where Disruption technology basically is at as means well as that where nology that gain big look the advantages at Kryder’s the progression Law. and of technology. tions analyse And this large is volumes of data
is at, at given points in time. This is best explained by three fundamental laws, which can be able to come to an industry where profits. This week, we dive into the quickly and accurately, creates room providing for disruption. are: the Moore’s Law, the Butters’ Law as well as incumbents were thriving and able
FIRSTLY, MOORE’S LAW SHOWS US THAT important subject of why data and insights that can help businesses Disruption basically make means that a
the Kryder’s PROCESSING Law. POWER DOUBLES EVERY NINE change the status quo. So, as a result, analytics play a crucial role in digital better decisions and can that improve be organisations able to come their to that an industry come in where must
MONTHS. SECONDLY,
incumbents they actively were close thriving the gap and between able to technology transformation. Digital Butters’ transformaLaw shows us operations. that communication For instance, a retailer
FIRSTLY, MOORE’S LAW SHOWS US THAT PROCESSING POWER DOUBLES EVERY NINE change the status
as well quo. as So, their as a business result, it’s tion is the process of using speed technology doubles every 18 months. might And use thirdly, machine learning to analyse
MONTHS. SECONDLY, that
This organisations way, they can that be come able in to must close Kryder’s Law shows us that storage capacity to fundamentally change Butters’ how Law an shows orus that customer communication purchase data they actively and identify close the gap between technology
doubles every 16 months. With all this, we realise potential entrants who might come ganization operates speed and as well them as their business development. something; delivers doubles a every value phenomenon 18 months. trends that And shows and thirdly, patterns that the that their can status help quo. It also increases their
This and way, capacity they and to can imbe be able able to continue to close to its customers. This rate Kryder’s of can technological Law involve shows growth us that predict is storage exponential. customer capacity This behaviour doubles potential Now entrants that we who understand might come the in importance
means every the increases 16 months. between With all the this, different we realise data everything from automating business prove their marketing and sales efforts. something; their data status transformation quo. It also in increases closing their the
points are a greater phenomenon with passing that shows time. But that on the the processes and adopting rate of technological new digital growth is Another exponential. example This and of data capacity analytics to be able to continue to
other hand, we as human beings are conditioned business advancement as well as tools, to completely means reinventing the increases a between in action the different is in data the healthcare advancement; Now that industry. we it’s understand necessary the for importance us
to think in a linear way. This would mean we’re company’s business points model. data different patient transformation types health of in technologies closing the that gap
conditioned are greater to move with from passing By three analysing time. to six But to on nine data the to on other hand, we as human beings are conditioned business advancement as well as Data and analytics are essential and medical treatments, healthcare
to think in a linear way. This would mean we’re advancement; it’s necessary for us to for digital transformation conditioned because to move from three organizations to six to nine can to identify different trends types of and technologies that they provide the insights that orgapatterns that can help them improve nizations need to make informed the quality of care they provide. For decisions about their operations. By instance, a hospital might use data collecting, organizing, and analysing analytics to identify common risk facdata, organizations can gain a deep tors for certain medical conditions and understanding of their customers, develop more effective prevention and their markets, and their own perfortreatment strategies. mance. This information can then be Walmart used data analytics to imused to improve existing processes, prove its supply chain operations. By identify new opportunities, and analysing data on customer purchases, drive innovation. There are many store inventory, and logistics, Walmart examples of data analytics that are was able to identify bottlenecks and relevant to digital transformation. inefficiencies in its supply chain. This One of the most common is the cusallowed the company to streamline its tomer analytics, which involves using operations, reduce costs, and improve data to better understand customer the availability of products in its stores. behaviour, preferences, and needs. As a result, Walmart was able to inThis can include analysing customer crease its competitiveness and revenue. data from a variety of sources, such as online shopping habits, social media interactions, and feedback Netflix used data analytics to imfrom customer service interactions. prove its recommendation algorithm. By analysing this data, organizations By analysing data on customer ratings can identify patterns and trends that and viewing habits, Netflix was able to can help them tailor their products identify patterns and trends that could and services to better meet the needs help the company recommend more of their customers. relevant and engaging content to its
Another important use of data users. This helped increase customer analytics in digital transformation is satisfaction and engagement, leading process optimization. By collecting to increased revenue and market share data on how an organization’s profor the company. cesses are performed, organizations Zillow, a real estate company, used can identify bottlenecks, inefficiendata analytics to improve its home cies, and areas for improvement. Motor Centre This Toyota:- valuation Tel: algorithm. + 267 395 By 1736, analysing Fax: data + 267 397 3442, can involve analysing data Associated on things Dealerships on property - Francistown prices, sales, Toyota:- and other Tel: + 267 241 like production times, delivery Motor Broadway Centre times, Motors:- Toyota:- factors, Tel: Zillow + 267 471 was 0252, able to Bamangwato develop a Toyota:-
Tel: + 267 395 1736, Fax: + 267 397 3442, and employee productivity. Associated Rustenburg By using Dealerships Toyota:- more accurate Tel: - Francistown + 27 14 and 523 reliable 3000, Toyota:- algorithm Lichtenberg Tel: + 267 Toyota:- 241 3855 this data to optimize their Broadway processes, Motors:- for Tel: estimating + 267 471 the 0252, value of Bamangwato homes. This Toyota:- organizations can improve Rustenburg their efToyota:- helped Tel: the + 27 company 14 523 3000, provide Lichtenberg better Toyota:- ficiency and productivity, ultimately services to its customers and increase leading to better outcomes for their its competitiveness in the real estate customers. market. Overall, the importance of data and analytics for digital transformation cannot be overstated. By using data to gain insights into their operations, organizations can make informed decisions that drive growth, improve efficiency, and deliver value to their customers. In the fast- paced world of digital transformation, having access to high- quality data and the ability to analyse it effectively can be the difference between success and failure.
KEY APPLICATIONS AND USE CASES
Data analytics can also be used to drive innovation. By analysing data on market trends, customer needs, and the performance of competitors, organizations can identify new opportunities for growth and development. This can involve using data to develop new products and services, or to find new markets to enter. By using data