The new role of Data Analytics in Consultancy

What was there?

Consultancy and business data analysis have always been a closely knit. Whether it  was building a  Marketing strategy, supply chain and operations  , Financial analysis , price optimization, it goes without saying 10-80% of the projects had  to crunch numbers.

What is new?

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Innovations in technology and cheaper editions of data storage, enabled such ease in availability and heights of data quality and security that, data analytics grew to be an indispensable part of consultancy. Yes – we are talking about the two critical C in technology today- Clouds and Censors.

Clouds & Censors

 Today a TV talks to a phone, a phone talks to car dash, A tablet  talks to that home theater there and the music system  talks to the TV – these little loops of connectivity established  between systems on wireless network  has put  our lives  right in the center of internet of things .

SMALL IMAGE (PNG)Public DomainAnd every such interaction anywhere within the internet of things generates a ‘bitly’ data that has a new home – called the cloud. The sheer size of the capacity and increasingly drop in infrastructure cost has made a data rich information and potential in driving actions and decisions making just click away.

What is the impact?

Quiet a heaven for data analysts this new era has brought in the never before scope to make the  most of information. More in business consultancy than in any other field, can data be used to bring out interesting insights, nobody had ever thought of before.Did you know Wes has published

 Google-AnalyticsUsing social media analytics one  could guess the sentiment  generated in audience by  branding efforts, eCommerce product page performance  reports spell out what’s hot in the market and what’s  not, customer segment bring out the differentiated value propositions, while predictive modeling make hidden opportunities seem obvious.

The Take Away…

Thus data analytics of online /offline business has a heavyweight contribution in consultancy and it is difficult to overlook. While every form of management consultant is gradually incorporating and increasing the use of fact based insights, it is about time, consultant, strengthen their in-house analytics strength or collaborate with professional analytics firms.