Other parts of this series:
Does your firm have the insights to drive the appropriate business decisions and beat the competition? Analytics-as-a-Service can provide them.
In my previous post, I outlined how financial services firms can stay ahead of their competitors in today’s hyper-competitive environment by transitioning to a technology-driven Everything-as-a-Service operating model. This model is accelerated by implementing Analytics-as-a-Service, the next step in the Everything-as-a-Service journey.
Insights drive performance
Analytics-as-a-Service provides the key to gleaning new insights that can help you identify opportunities to streamline processes and costs. And you’ll be able to shape actionable strategies to innovate and improve competitiveness. With Analytics-as-a-Service, you can plug into industry-relevant, powerful analytics that make it easy to ramp up quickly and easily. The result?
Not only will your firm be able to respond to issues faster, you’ll also be better equipped to prevent them from occurring in the first place because you’ll be armed with the foresight to predict and prescribe the future.
At Accenture, we help firms access data-driven insights quickly, at scale and with higher levels of reliability, compliance and security. This is because we embed descriptive, predictive and prescriptive analytics into all that we do.
See the difference
Here are a few examples of the difference Analytics-as-a-Service can make:
- Descriptive analytics: Using comparative future-spend analysis, one global oil and gas company reduced non-contract spend by 10 percent through contract coverage, compliance and vendor rationalization.1
- Predictive analytics: Through advanced predictive sales analytics, a large automobile manufacturer increased marketing campaign return on investment (ROI) by 74 percent and market share by five percent.2
- Prescriptive analytics: By applying data-driven collections analysis, a US-based computer hardware, software and electronics company was able to identify working capital leakage of more than 50 percent, totaling $14M in potential benefits.3
What difference could Analytics-as-a-Service make in your business?
In my next post, I’ll talk about how digitization can transform your entire business environment and boost performance.
- “The Technology Factor: Accelerating the As-a-Service Journey,” Accenture, 2015. Access at: https://www.slideshare.net/accenture/the-technology-factor-accelerating-your-business-as-a-service-infographic