It’s great to get in on something on the ground floor. That’s what happened at the inaugural Data4Decisions Conference and Exhibition held in Raleigh, NC, in March. It brought together business people, academics and students to explore how organizations use data management and analytics technology to enhance business processes and decision making.
While each company applies its own “special sauce,” to the challenges presented by managing and analyzing data, only collaborative events like the Data4Decisions Conference will help move the analytics industry as a whole forward.
I participated in some of the sessions along with several other SAS colleagues, and I came away from the event with good tips to help you start or continue your journey of mastering your data to improve your operations as well as impacting both top- and bottom-line business results:
- Think Big. Big data? We’ve always had that. The computing power to analyze and make sense of Big Data? Not so much . . . until recently. Big computing turbo charges the analytics you use to understand your data and make better decisions because of it. To do that, computing power is essential.
- Stay Focused. A retailer who presented at the conference found a lucrative opportunity by focusing on only 10 pieces of information – six about customers, and four about competitors. Analyzing this information over time revealed they were missing out on top-line revenue and bottom-line margin opportunities to the tune of millions of dollars.
- Hire Top Talent. The caliber of student presentations at the conference showcased the fact that the next generation of business leaders understands the value of data and analytics better than we did at that age. What’s more, they’re prepared to apply that knowledge to solve real-world problems. The future of data science looks bright.
- Be a Star. Everywhere you look, there are opportunities to apply analytics and derive a better result. Keep your eyes and mind open to seize those opportunities and help your organization – and your career – shine.
If you weren’t able to attend the Data4Decisions conference this year, mark your calendar for March 8-10, 2016, when we’ll gather again and continue the discussion.