Behavioral Analytics is the next generation of business intelligence

By | September 4, 2017

Writing an opinion piece in the CIO magazine, Den Steiner – adviser CIO explains how behavioral analytics is turning out to be the new hope for business leaders in their quest for cost – effective mechanisms to analyze business data to gain competitive advantage.

Beginning how today enterprises collect extensive data in course of their business transactions, Den Steiner goes on to tell us this data can be utilized to gain a competitive advantage in the market place when it is streamlined and formatted in an efficient way to lend actionable information.

But with enterprises encountering the challenges of the need for powerful architecture, robust data – warehousing and separate data visualization, this process most times lead to perplexing workflow and foggy analysis resulting in a more or less a very low efficient system.

In their bid to overcome these lacunae, business leaders tend to concentrate their resources on a single channel say mobile activity or website visitors and their page clicks to focus on activity levels and conversion rates. This even though useful to a certain extent they would have made use of a very small set of data.

Enterprises with deep pockets tend to face challenges of data sitting in different silos requiring the services of a development team to get a factual understanding of different data sets as the present data integration process is complex.

In the above scenario, the advent of behavioral analytics offers a solution which unifies the entire of digital activity, making it easy for enterprises to trace the customer’s journey from start to finish.

As is the practice, few industries are faster off the starting block in adopting behavioral analytics than others, on –line merchants in their quest technology innovation are in the fore front but many other industries like cyber – security, gaming and fin –tech can benefit equally from investing in this business intelligence.

And Den Steiner makes a strong case for enterprises to make behavior and its analysis the center in their need to organize data. And is of the firm view that behavioral analytics is the next generation business intelligence.

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