All businesses need faster access to more information in order to remain competitive. The proliferation of internet connectivity, social media and “the internet of things” means that businesses now have the ability to gather vast amounts of data on customers, suppliers and business operations. However, because of the vast amount of data potentially available, one needs to be able to mine that data and produce meaningful intelligence. This empowers executives, managers and even staff on the "shop floor" to make faster, more informed decisions.
Data and analytics is the business of gathering, organising and analysing data. It’s an iterative process of discovery that enables businesses to understand market trends and behaviours. This topic will introduce the concept of data and analytics and will explore how some organisations, small and large, are using data and analytics to their advantage.