In the course of digitalization, the already tremendous amounts of data only continue to grow. Data and analytics combs through the endless sea of data, generating knowledge that’s useful for business – knowledge that helps with decision-making but also (more and more frequently) knowledge that allows us to automate operational processes.
At the same time, digitalization is giving us access to new data sources, giving us an even broader knowledge base on which to found business decisions. COSMO CONSULT can turn your company into a digital age leader. So you’ll be able to actively define your own digital future. For this to happen, though, the
What we’re talking about is data management, data analytics and data science.
At the center of it all are the people working with the solutions and turning knowledge into profit. After all, you can’t streamline decision-making processes unless your employees can rely on the available data and interpret it correctly. In recurring decision-making situations, automated processes help to sustainably take the burden off the decision-maker.
Data management simplifies, manages and automates the integration of internal and external data. This includes company, machine, sensor, customer or market data. The data is quality-checked, harmonized and prepared for decision-making processes.
Data analytics helps your employees use data to generate knowledge, so they bolster their personal intuition with objective facts. The proven self-service concept of data analysis takes the burden off of central offices like Controlling and provides crucial knowledge to the departments.
Data analytics represents a significant added value in the context of digital business processes. Digitalization generates massive amounts of data. When this data is efficiently processed and purposefully interpreted, digitalized companies gain a noticeable competitive edge Being able to correctly assess and manage these types of processes often results in a significantly improved market position.
Data management and data analytics function cumulatively, data management being the preliminary stage ahead of data analytics. Data management and data analytics are often combined under the common term “business intelligence.”
The interaction with the next stage of data science can also be evaluated in this sense. In data analytics, the focus is on multi-dimensional, “analytical” models the relations and interdependencies of which are easy to visualize. In data science, however, the same data is processed based on mathematical rules. These algorithms provide us with detailed information on optimizations, probabilities or forecasts, among other things.
Data science relies specifically on the latest technologies like machine learning and artificial intelligence (AI) in order to optimize or automate business processes.
Together, we’re sure to find the right solution for your reporting and analysis needs. Call us or send us an email, and we’ll discuss how COSMO CONSULT can help you get more out of your business.