New technologies have given rise to huge amounts of data and the ability to process them. The advent of Big Data and actionable analytics has become the embodiment of a long-standing business dream to learn everything about data safety and market trends.
What is actionable analytics?
For the effective functioning of enterprises in market conditions, it is necessary to establish a regular collection of information. This task is solved by creating a marketing information system, one of the components of which is a system of marketing research like actionable analytics.
Actionable analytics is marketing research to determine common insights and trends in the market. It is not just social media monitoring but a tool for comprehensive analysis of the collected data. Many automatic metrics and attributes allow you to solve a wide range of tasks – from reputation control and real-time marketing to in-depth research. The dynamics of marketing research as a practice area are noticeably accelerating. The main reason is the massive changes in working with data, which only the lazy do not talk about.
Actionable analytics includes data mining, text analytics, basic statistics, and multivariate statistical modeling to identify patterns and relationships in structured and unstructured data. Actionable analytics gives business owners many benefits:
- Improving the accuracy of market segmentation. The techniques help sales managers build a more accurate image of the target customer.
- Increase conversions. You can more effectively find new potential buyers based on information about previous sales.
- Increase sales forecasting efficiency. Based on accurate sales forecasts, companies will be able to plan profits more effectively during the financial year.
- Client clustering. Actionable analytics mechanisms allow business owners to divide many customers into specific groups to offer them the most relevant products and services.
- Identifying hidden potential. Predictive analytics helps companies create fertile ground for future development.
Actionable analytics and security
In the process of any organization, especially one that operates in retail markets with a significant number of customers and products, there is an accumulation of large amounts of data. After an accelerated and in-depth analysis, these data become a source of information for making quality business decisions that increase the company’s competitive position in the market and protect the organization from malicious actions or unintentional mistakes.
Ensuring information security has become a necessary process for the functioning of enterprises with various types of activities. The main components of information security are the integrity of information, its confidentiality, and availability. For organizations with a developed digital infrastructure, practical data analysis related to safety is fundamental. Manual processes and rules-based technologies can no longer cope with today’s cyber threats. Instead, you need automated contextual machine learning technology to detect and counter known and unknown threats.
Of particular importance for supporting the organization’s digital transformation is the ability of the chosen platform to absorb new and existing data in real-time from all available repositories and large databases and provide the necessary information using machine learning techniques in a short response time.
As a result, a comprehensive information security audit of the organization will help identify how effective your personal and corporate data protection system is. If it does not have weaknesses, you will receive a confirmation of the entire organization’s security. But if the report shows hidden risks, you need to develop and implement an action plan to address potential risks. In addition, quality, actionable analytics will help the company choose the most effective data protection methods and reduce its costs in this area.