Smarter Data Use Improves Business Profitability
Data is commonly referred to as the ‘new oil’ of the global economy.
Just like how the steam engine sparked the transition of an agricultural society to industrial production, data is fuelling digital transformation and disruptive technologies across all industries around the world.
Data analytics and artificial intelligence are driving innovation to boost business profitability for small and big businesses.
How Do You Increase Business Profitability in Your Organization with Data & AI Technologies?
Yet, despite the promise of AI, many organizations are still struggling to find and use the data they have.
This is because business leaders have mistakenly thought that AI is a plug-and-play technology with immediate returns.
In fact, true business value creation from data and AI can only happen with organization-wide adoption.
Data could add millions to your business profitability
Based on the report What is Your Data Really Worth by Splunk, the 1,350 organizations surveyed had materially increased revenue and reduced operational costs, boosting their profitability by an average of $38.2 million, or about 12.5% of their total gross profits, with a data-driven strategy.
Organizations with strong Data and AI capabilities to locate and utilize data will experience better business outcomes compared to organizations that are still struggling with dark data.
Traditional manufacturers embracing Data and AI technologies need to rebuild their entire business models to make this happen.
John Deere, a 180-year-old manufacturer of farming equipment, transformed into a data-savvy company making use of deep neural networks and computer vision systems to help farmers plant crops and utilize pesticides with algorithmic accuracy.
It is clear that data-driven business decision making brings financial value to fruition. However, it is only going to benefit organizations that have teams of data science, business analytics, and AI talents to make it happen.
Hire the best Data Talent in the Region
Become a Data Star Graduate sponsor and have a dedicated, trained data scientist work with your business for 12 months.
Data Star Graduate Program is a full scholarship for successful applicants to complete a 1-2 month program to become the next Data Analyst, Data Engineer, or Junior Data Scientist.
Upon completion of the program, the successful candidate will be given a job placement opportunity with leading organizations.
Expand your organizational capabilities and close the talent gap by bringing aboard Data Star graduates.
Their well-earned knowledge and skills will help in achieving business objectives within the transformation journey.