Almost 80% of the world’s future data will be generated as unstructured image, voice and text. Superlative growth in IOT devices and sensor data is another ubiquitous phenomenon that is transforming our lives.
In today’s world decision making is largely driven by the what one knows through structured reports, MIS and some bits based on one’s own experience domain. The data is also so voluminous that it is humanly impossible to assimilate it and practically use it. A large part of data available hence is probably not used in arriving at optimal decisions.
Further, windows of opportunity are diminishing rapidly. And in addition, speed of change and hence data generation is increasing at an astonishing pace. 90% of all the worlds data was generated in the last 2 years. Given this, it is imperative that organizations act with agility and use data comprehensively to arrive at the best possible decision in order to maintain market relevance.
The challenge with data is also its reliability and its inherent value. History is replete with examples of bad decisions being made on incorrect data. To shift the good data from the bad and be able to associate the right value to the data defines a successful decision-making process. Hence it is critical to keep in mind the Big “V” representing business value, while thinking about data and analytics strategy.
In this environment, Actify Data Labs is building differentiated solutions for leveraging the power of Image, Voice and Text (IVT) data. Being conceptualized by True North, one of the largest and most reputed private equity funds in India, Actify Data Labs aspires to be a globally recognized thought leader and an outstanding value creator. The company is focusing on building solutions of tomorrow including AI for medical diagnosis, automated voice interactions, crop genomics and sensor data driven automation.
Actify Data Labs believes in the holy trinity of superlative value creation for its customers, specializing in cutting edge data science and building a culture that will make it the most aspiring place for a data scientist to work.
Managing and utilising data in decision making, is a science, and also an art.Data Sciences capabilities comprising Big Data Management and Machine Learningare essentials for organizations to survive. However, till today, Big Data has always been equated with Big Budget and has remained the prerogative of large organizations. But that paradigm is fast changing; the cloud, commoditised compute power and the open source is breaking barriers of adoption.
Business Analytics: Applications To Consumer Marketingby Hindol Basu (Author)
Increased customer focus and the exponential increase in the volume, velocity, and variety of data and the unrelenting need to stay one step ahead of competition has sharpened focus on using analytics within organizations. With business pressing more on the need to enhance their analytics capability for predicting and optimizing outcomes, this book offers practical guidance on the application of analytics for driving business decisions by adopting a customer centric approach to marketing.