This makes data the cornerstone of any successful business in a digitally-transformed world. Several trends will help guide organisations on their path to becoming more data-driven.

“Increasingly, data science and analytics will be an integral component of organisational procedures in 2023 and beyond. However, the key to success will be in unlocking the potential of the data available to companies, regardless of industry sector or organisational size,” says Andreas Bartsch, Head of Innovation and Services at PBT Group.

Data Democratisation. Organisations have long acknowledged the importance of data and analytics in their quest to increase revenue, reduce expenses, and continuously optimise operational efficiencies.

It has now also been recognised that, to best achieve this, all employees must have access to appropriate insights in their day-to-day role.

“Whilst monthly or weekly reporting to managers and executives is still relevant, employees must be empowered by information on a near real-time basis. This will equip them with the insights necessary to become more independent and less reliant on other team members for guidance,” according to Bartsch.

Artificial Intelligence. AI has become part of our lives even though remaining largely unnoticed. Through advanced algorithms and the supporting technology, its utilisation will continue to have a significant impact.

Improved client interaction, the reduction of manual processes, pro-active maintenance, and even communication in human language, complemented by the processing of visual information, are just some examples of AI applications.

Cloud and Data-as-a-Service. Although many organisations have ventured into the cloud, the associated complexities, multitude of technologies, and challenges related to unpredictable costs, have not been fully grasped.

“Whilst the benefits of the cloud cannot be argued, there are still many uncertainties when it comes to optimal utilisation of the services, technologies, and cost-efficient management thereof. The Data-as-a-Service concept also touches on the issue of data monetisation – the act of generating measurable economic benefits from available data sources. Data and its associated insights can augment any organisation’s existing data assets. However, for this to work, it must be driven from the top down and permeate all aspects of the business,” says Bartsch.

Real-Time Data. The need for real-time data, or more realistically, near real-time data, has been clearly expressed in the data strategies of numerous organisations. With the mentioned impact of AI, the latter will increase the pressure on having access to up-to-date data, especially given the huge volumes of data at a company’s disposal.

“Notwithstanding the many use cases where ‘real-time’ data is critical, it must be considered that the latter usually comes at a price tag. It is therefore important that the organisation has evaluated the business case, and most importantly, has the supporting processes in place to react to and action on near real-time data. By doing so, the company can ensure it gets the most benefit from the advanced data analytical capabilities put into place,” Bartsch says.

Data Governance and Regulation. The matter of data governance has been on the agendas of many organisations for several years. Unfortunately, although the intentions and objectives are unanimously agreed upon, the execution of establishing the supporting structures and processes, have been lacking.

As data volumes exponentially increase and data strategies receive executive attention, it has become non-negotiable to simply get this right.

“This is further emphasised by the complexities introduced through regulatory compliance ultimatums posed by governments across the globe. However, this provides an opportunity to address the data ownership challenge – using ‘data governance’ as a driver to establish the necessary ownership structure can address both challenges and will contribute to a data-driven culture. If anything, the complexity of the regulatory environment provides a framework in which the business can operate to get the most value from its information,” adds Bartsch.

Shifting momentum

Other technology-related trends to consider include the metaverse, advanced blockchain application, the data fabric, and being closer to the edge through Internet of Things (IoT). But before this can come into play, data must be captured and analysed correctly. Next year will very much be about getting the basics right.

“Even though companies will increasingly look to appoint data scientists, the role of the data engineer will remain hugely in demand as an enabler of all these trends,” concludes Bartsch.

The post PBT Group: Data Trends to Watch in 2023 appeared first on Tech | Business | Economy.

Better client insights, and improved products and services are reliant on information to provide input to strategic direction and ultimately achieve higher revenue.

This is where self-service analytics becomes a crucial business enabler, says Andreas Bartsch, Head of Innovation and Services at PBT Group. 

Gartner defines self-service analytics as a form of business intelligence (BI) in which line-of-business professionals are enabled and encouraged to perform queries and generate reports on their own, with nominal IT support.

“Self-service analytics is certainly not a new concept. Many organisations have attempted to establish such a competency in-house, however unfortunately with varying degrees of success. In some cases, the adoption has been minimal, resulting in complete failure. Considering the significant investments made to achieve this, executives have rightly questioned whether this is worth the investment,” says Bartsch.

Business relevance

According to Bartsch, one of the key performance indicators for the success of any modern data platform and its associated analytic capabilities lies in its utilisation by business users.

“Such a platform is not for IT to pride themselves on the underlying cloud technology, the sheer volume of data, or the cool functionality of the dashboards. The business data consumer must be the judge of its value. For organisations to establish a data-driven culture, trustworthy data must be accessible at an operational level. This will not only aid line managers in their daily decision-making but will greatly contribute to improved productivity and efficiency,” he says. 

This means that the business data consumers should not await an IT response to their query, but rather should have the capability at their proverbial ‘fingertips.’

Successful self-service data and analytics will result in organisational speed and agility, and a definite awareness of the importance of quality data.

Defining success

Bartsch believes that the successful establishment and adoption of a self-service data and analytics capability and competency relies on a well-architected modern data platform, best practice data engineering, and appropriate data governance principles.

The data model must reflect integrated data in a simplified manner, accessible via an intuitive, user-friendly visualisation tool that supports self-service functionality.

“However, as is the case with most strategic initiatives, the importance of organisational change management cannot be over-emphasised. Typically, this entails communication, education, and the necessary training. Being transparent with the objectives, benefits, and expectations will also provide credibility to the platform and give it the necessary business support.”

For its part, training does not only apply to the visualisation tool or self-service portal, but also in providing an understanding of the data product life cycle, the data model, and its data elements.

“The establishment of a self-service data and analytics capability is a non-negotiable investment for any organisation embarking on a data journey. The investment should never be questioned. Instead, the spotlight must turn to how it is being implemented,” he concludes.

The post Embracing Self-Service Analytics Essential for Business Enablement – PBT Group appeared first on Tech | Business | Economy.

Digitisation is resulting in increased efficiencies bringing with it fresh opportunities for economic growth and job creation.

But if the continent is to truly benefit from 4IR, the public and private sectors must rethink skills development and the way people work, says PBT Group’s Andreas Bartsch, Head of Innovation and Services.

“Advanced technologies like artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA) are starting to take over many repetitive tasks.

Cynics argue that this comes at the cost of the very jobs that 4IR intends to create.

However, as people can now focus more on the value they can bring an organisation, this presents the perfect opportunity to provide them with the skills necessary to be successful in a digitally driven world. It is now all about learning new things and embracing a more adaptable way of working,” says Bartsch.

Bartsch believes that the most important soft skills when it comes to 4IR are not necessarily technology-driven ones. Instead, it is whether a person is willing to learn continuously.

As part of this, being creative, having a high level of emotional intelligence, providing good analytical thinking, having a growth mindset, and an ability to make logical decisions help significantly in this regard.

Additionally, good interpersonal communication and showing leadership are also important.

“Of course, being tech-minded will help, but this is not about understanding how to code or put a computer together. It is very much a case of how best to use solutions to unlock business value. Things like mobile technologies, the cloud, and data analysis are the enablers of this,” adds Bartsch.

Global battleground

Even so, there is still a requirement for essential IT, data analytics, and AI skills at organisations across industry sectors. Businesses across Africa are now competing globally for these and other scarce skills as 4IR becomes mainstream.

“For local organisations, it is not about trying to entice talent with high salaries. Africa is unlikely to ever compete with First World countries when it comes to monetary incentives. Instead, it requires a more innovative approach to attracting and retaining talent. Part of this entails embracing hybrid work and offering employees flexible working hours and time away from the office,” says Bartsch.

Organisations should also take a closer look at the skills essential for a 4IR environment. This includes data scientists, data architects, data engineers, and other specialist IT functions.

Continues Bartsch; “While many tertiary institutions are still lagging when it comes to coursework and degrees designed to create these roles, organisations can themselves invest in their employees and upskill them – providing them with the experience necessary in these critical positions.”

Managing change

It may be easy to give into the temptation of rushing out to build skills or to attract exciting new talent for the 4IR environment. However, organisations must always keep change management in mind especially as how it pertains to integrating the new into existing processes, systems, and ways of doing things.

“In a digital world, HR takes on an even more critical function. This department must integrate into the entire organisation to ensure employee engagement is high, there is an understanding of how people’s needs are met, and to identify any concerns individuals may have when it comes to the work environment,” says Bartsch.

In many respects, this can assist the organisation in future-proofing itself as 4IR evolves and new skills are needed and become available.

This however will not be a painless process both from an organisational perspective and an educational one. There are systemic changes that must be considered throughout the entire educational system. How learners are educated and what they are educated on will certainly help address the skills shortage.

“With 4IR being such a critical element for business success in the future, decision-makers have no choice but to adopt this new way of doing things and invest in skills development aligned to 4IR as they seek to capitalise on future growth opportunities,” concludes Bartsch.

The post The Time to Unlock Skills Development Potential of 4IR is Now, says PBT Group  appeared first on Tech | Business | Economy.