Look what is plaguing the present BI and analytics industry? Well, you must have guessed it right if you had been searching for a working tool to analyse your raw production or operation data, and figure out business insights. It is the skill-set among willing workforce. The principal element that has skyrocketed the cost is now obviously the price of skilled hands which are so highly inadequate that calls for a complete revisit of the decisions you might have made considering the features of the tools and deliverables.
Yes in the market place every day you might find a tool with better features and better results but that tells upon the ROI of the buy decision. If you would like to go traditional you might consider the price/performance ratio, but wouldn’t you have to consider the total cost of ownership? Yes, you definitely would and there you might be caught unaware by some lurking quagmires- One such is the cost of the skill- persons and/or the cost of training and the cost of retention or attrition and that would tow you down to a negative ROI- please do not efface off the possibility of fast obsolescence of the technology where you might have to re-train your staff, that would add to the cost of coming-up-to-the-state.
The industry now finds the following: from the studies conducted through the net:
“Lack of appropriate talent leads to 55% of analytics projects being abandoned. The way out is not to hunt for people who already have the skills but hire those who have the curiosity to learn those skills and then train them.”
And here is how a serious blogger reacts:
“Perhaps some perspective from the other side of the market would be useful: I am an experienced econometrician who has worked with financial data, both time-series and panel types. I have done this in multiple industries and countries. I have numerous publications and wide experience presenting the results of research and discussing analytics findings.
It is pretty clear to me that ‘big data’ or more generally data pulled from the internet, is going to the object of a great deal of analysis, in almost every industry. While I have the curiousity and the aptitude (at least I think so) to become involved in such efforts, when I look at the job descriptions for this field, it seems as if unless one is experienced with certain software programs there is really no use applying.
I would also opine that even if the hiring managers recognize that it is not just experience with particular software packages that matters, unless the practices of the HR departments are considered it will be hard to make the change. An easy way to throw out an application is to not see specific experiences or software skills.” – William Osterberg.
Analysts are alienated from the technology and technologists are not pacing up with the work they have to put in the tools to get the right representations. This is that crises-critical predicament that always has mauled all implementations and processes! The crisis has set in! The fruit of technology is getting rotten and analysts are losing hope.
The life-line, the life-belt saviour:
The crisis is actually of perception and that of lack of better search. The problem stems up from lack of product knowledge in the vineyard – it is also one of approach.
There are heavy duty big ticket , attractive output generating tools that has incorporated models that are complex and difficult and heavy to handle with, and there are tools that are flexible, independent of models, independent of platforms, portables across any browsers, handy, slim and smart, where the intricacies of the technology does not have any effect to the users- tools that are capable of one person handling huge data with very fast rendition of alternative scenarios and those using data collection from all different kinds of applications and yet generating output to dashboards, to reports and external applications down the line- Tools that are cost wise, resource-wise and effort-wise affordable- tools that do NOT require any special training in handling and implementation from the technology point of view.
One such tool is IDEAL-ANALYTICS that was conceived to solve these very constraints and problematic and that has come into the markets attracting big players – owing to its flexibility, range of usage, ease of handling & freedom of the analysts to work encumbrances-free, concentrate on their business problems without bothering about the technology.
Attrition is no issue when the problems and constraints are mitigated. Any analyst can use it. The first moment onwards productivity is achieved not in the learning curve route but reaching the near fullest efficacy!