Have you also been wondering how you could ever get around to starting your data analytics journey because you just don’t seem to have any data available for doing the analytics with? You couldn’t be more wrong. Read on to know about the potential gold mine of data you are likely sitting on, and how you can unlock its value immediately!
“We would like to start with data analytics but we don’t have data.” This is the most common peeve of a lot of the companies that reach out to us. In reality – this could not be further from the truth!
Let us explain with an example. Every individual who uses cash, credit card or any other avenue of payment for their spending, has a history of rich data which can provide incredible insights into their spend patterns, potential saving avenues, and cost elimination ideas. If the individual could collate their bills for the last 12 months and do some analysis, they’d be mighty surprised at the findings from the data once it’s put together and looked at holistically.
Similarly, in today’s day and age, all companies have data. They may not always have it in the most consumable form. Some of it may even be in physical vouchers, paper receipts, invoices etc. But the data surely exists.
All companies have mines of precious data. The issue therefore is never availability of data, but making this data usable.
Contrary to popular perception, even the largest companies in the world (including the likes of Fortune 500s) struggle to have data in readily consumable form due to a multitude of legacy systems, variations across geographies, differential adoption of technology, manual data entry errors etc. The task of bringing all this together is far more complex and difficult at such large companies in comparison to mid-sized companies which are just starting to adopt data analytics and can fix these challenges from the start.
At UNCOMPLICATE.AI, we have solutions that enable comprehensive data cleansing which includes collating, sanitizing and normalizing available data. Our anomaly detection modules can also check the data for any errors or omissions to make sure the data we analyze is robust and will lead to meaningful output. Any data analysis can only be as good as the input data, hence it is critical to start with this first step. And you know what the good news is? After you set-up our data cleansing solutions once, you can have access to clean data on an ongoing basis, so that you always have good, high-quality data available for insight generation.
So if you’re looking to start with data analytics but are unsure about the data you have or how to go about it, we’re just a phone call away. Let us supercharge your business with the power of AI.
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