BENGALURU, India, December 4, 2018 /PRNewswire/ --
- Innovating new business models
and maximizing revenue and profits are the
next set of priorities for data analytics
- Finance and accounting, marketing and operations are key
functions that leverage analytics extensively
- When combined with data analytics; allied technologies like
AI, IoT & Cloud perceived to be the
most effective in delivering better business
outcomes
Infosys (NYSE: INFY), a global leader in next-generation
digital services and consulting, today published a global research
on data analytics from the Infosys Knowledge Institute. The survey
titled, 'Endless possibilities with data: Navigate from now
to your next', reveals that a majority of
organizations are deploying analytics to enhance customer
experiences and mitigate risk.
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This research tries to understand how data analytics is becoming
core to driving digital transformation for enterprises and makes an
assessment of enterprise expectations in a world of endless
possibilities with data. It also explores a range of challenges,
opportunities, and the role of new technologies in the analytics
world.
Highlights of the survey
- 31% of respondents identified the use of analytics with
experience enhancement. This includes using intelligence generated
by listening to internal and external stakeholders to drive extreme
personalization and high quality customer service
- 28% respondents were interested in leveraging analytics for
risk mitigation - predicting risk to enable better decision making,
and detecting anomalies that could disrupt business
effectiveness
- Developing new business models by unearthing the latent needs
of customers and offering innovative products and services was seen
as the primary analytics requirement of 23% of respondents.
- Revenue and profit maximization through increasing channel
effectiveness and thereby enhancing profitability across processes,
channels and stakeholder ecosystems was the analytics priority for
the remaining 18%.
- The majority of respondents in the U.S. (32%) and Europe (34%) stated they would like to use
analytics for experience enhancement whereas in ANZ about 31%
respondents consider it for risk mitigation
Functions across organization are benefiting from the
possibilities of data. Finance and accounting was found to use
analytics the most at 32%, followed by marketing and operations at
20% and 17% respectively. In terms of emerging technologies,
Artificial intelligence was perceived to deliver increased outcomes
when combined with analytics at 37% followed by IoT and Cloud
Technologies at 19% and 16% respectively.
The survey found that enterprises in every industry encountered
several challenges that prevented them from implementing their
analytics initiatives fully. The biggest challenges stemmed from a
lack of expertise in integrating multiple datasets (44% of
respondents) and failure of understanding in deploying the
right analysis techniques (43%). This is where enterprises are
looking up to their partners to help industrialize their analytics
capabilities by creating an analytics strategy, build an
operational framework, and define a process for executing and
governing analytics initiatives.
Satish H.C., EVP and Head, Data Analytics, Infosys, said,
"In the world of endless possibilities that data provides, being
data native is core for enterprises to being digital. As
enterprises work with limitations of siloed systems, data
integration issues, resources and skills, harnessing the
possibilities with data will be essential to navigating their
next. We believe that the findings of this survey will help
our clients to fast-track their journey into a data-native
enterprise by industrializing their analytics capabilities and
ultimately monetize data."
For a full copy of the report, please
visit: http://www.infosys.com/endless-possibilities-with-data
Methodology
Infosys commissioned independent market research company
Feedback Business Consulting to undertake a study to understand how
companies are using data analytics today and their expectations in
a world of endless possibilities with data. The study was carried
out by interviewing 1062 senior business and technology executives
from organizations with annual revenues exceeding US$ 1 billion and 1000+ employees. Overall the
respondents represented 12 industry groups from the United States, Europe, Australia and New
Zealand.
About Infosys Knowledge Institute
As enterprises navigate the path to being digital, Infosys
Knowledge Institute offers thought leadership to guide their
transformation. With decades' worth of business and technology
experience we help enterprises strategize how they reinvent
themselves from the core: their people, processes, and
proposition.
About Infosys Ltd.
Infosys is a global leader in next-generation digital services
and consulting. We enable clients in 45 countries to navigate their
digital transformation. With over three decades of experience in
managing the systems and workings of global enterprises, we
expertly steer our clients through their digital journey. We do it
by enabling the enterprise with an AI-powered core that helps
prioritize the execution of change. We also empower the business
with agile digital at scale to deliver unprecedented levels of
performance and customer delight. Our always-on learning agenda
drives their continuous improvement through building and
transferring digital skills, expertise, and ideas from our
innovation ecosystem.
Visit http://www.infosys.com to see how Infosys (NYSE:
INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements mentioned in this release concerning our
future growth prospects are forward-looking statements regarding
our future business expectations intended to qualify for the 'safe
harbor' under the Private Securities Litigation Reform Act of 1995,
which involve a number of risks and uncertainties that could cause
actual results to differ materially from those in such
forward-looking statements. The risks and uncertainties relating to
these statements include, but are not limited to, risks and
uncertainties regarding fluctuations in earnings, fluctuations in
foreign exchange rates, our ability to manage growth, intense
competition in IT services including those factors which may affect
our cost advantage, wage increases in India, our ability to attract and retain
highly skilled professionals, client concentration, restrictions on
immigration, industry segment concentration, our ability to manage
our international operations, reduced demand for technology in our
key focus areas, disruptions in telecommunication networks or
system failures, data privacy breaches or cyber security incidents,
our ability to successfully complete and integrate potential
acquisitions, liability for damages on our service contracts, the
success of the companies in which Infosys has made strategic
investments, withdrawal or expiration of governmental fiscal
incentives, political instability and regional conflicts, legal
restrictions on raising capital or acquiring companies outside
India, and unauthorized use of our
intellectual property and general economic conditions affecting our
industry. Additional risks that could affect our future operating
results are more fully described in our United States Securities
and Exchange Commission filings including our Annual Report on Form
20-F for the fiscal year ended March 31,
2018. These filings are available
at http://www.sec.gov. Infosys may, from time to time, make
additional written and oral forward-looking statements, including
statements contained in the company's filings with the Securities
and Exchange Commission and our reports to shareholders. The
company does not undertake to update any forward-looking statements
that may be made from time to time by or on behalf of the company
unless it is required by law.
SOURCE Infosys