As many companies struggle to adopt a data-driven culture and strategy, self-service analytics tools are becoming a must-have.
Adopting a data-driven strategy is essential if you want to thrive in today’s dog-eat-dog world, yet this remains fraught with difficulties for many organizations.
Somewhere between 60% and 73% of all data within an enterprise goes unused for analytics, according to Mike Gualtieri, Vice President and Principal Analyst at Forrester.
But, it seems, it’s not for a lack of trying. Harvard Business Review said that, despite the pace of investment, last year (much of it spurred by Covid-19), many companies are still struggling to “derive value” from their big data and AI investments.
Why? “Legacy data environments, business processes, skill sets, and traditional cultures that can be reluctant to change,” said HBR.
Enter self-service analytics
There is a way to leap over some of these hurdles with one single bound: Self-service analytics, which are rapidly being accepted by the industry as a new and valuable standard way of working.
In a survey, McKinsey found that “high-performing organizations are much more likely to report having a data leader in the C-suite, making data and self-service tools accessible to frontline employees.”
A data-driven culture is all about making decisions based on your enterprise’s data, and gaining insights that can improve the customer experience, as well as your own internal processes.
This is where Software AG’s TrendMiner, winner of the “IoT Analytics Solution of the Year” award in the 6th annual IoT Breakthrough Awards program, comes in. TrendMiner’s self-service solution placed first in the “Analytics Innovation Category” of IoT Breakthrough’s award.
TrendMiner empowers process and asset experts to use advanced IoT analytics to analyze, monitor, and predict the operational performance of batch, grade, and continuous manufacturing processes. There’s a growing trend toward having centralized groups of experts supporting local teams in their day-to-day execution.
Joan van de Wetering, General Manager at TrendMiner, said: “Our typical user is someone with a deep understanding of the production process or assets and access to the data they are generating.”
They can combine their subject matter expertise and gain insights into production data, find anomalies and their root causes, monitor production performance and predict problems early. The solution can be deployed on-premises, hosted in a customer management cloud environment or offered as a full Software as a Service (SaaS) solution.
We are thrilled that IoT Breakthrough has recognized TrendMiner in this award; the victory solidifies our global position as innovators, leaders, and visionaries of IoT solutions.
As organizations get to grips with their data-driven strategy struggles, they can feel even more confident about using TrendMiner’s tools to transform their data culture.
See the press release here:
Click below to learn more about data analytics using TrendMiner on Software AG’s Cumulocity IoT.