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Why Business Needs Machine Data Analytics
Businesses must boost operational efficiencies enterprisewide if they want to keep up with rapid market and technology shifts. And many are investing in machine data analytics to do so, according to a recent survey from Logtrust and 451 Research. The resulting report, “The Need for Speed: Machine Data Analytics in 2016-17,” indicates that organizations are deploying the latest in machine data analytics to benefit big data and internet of things (IoT) efforts, as well as overall IT operations and cyber-security. Subsequently, they’re increasing revenue and productivity, with quicker incident resolutions and time to market for products and services. To continue to make progress, IT will need to overcome obstacles in infrastructure and staffing demand, as well as difficulties in scaling, to manage data ahead of the pace of business and technology changes, instead of falling behind. “It’s been shown time and again that in all sorts of areas, the value of data erodes dramatically as it ages,” according to the report. “In other words, the faster you can run some analytics on data and subsequently respond to the findings, the greater the chance of having achieved something that adds business value: the take-up of specific offers, a reduction in customer churn or basket abandonment, or resolving a situation in which a company may have been left with customer ill-will and poor reviews, for example. … In fact, [big data is] of far less importance than the notion of ‘fast data.’ How quickly can data be ingested, processed, analyzed, visualized and acted upon? For more and more companies, this is one of their biggest challenges if they are to remain competitive.” An estimated 200 IT decision-makers took part in the research.
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