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Summary

The world is getting smarter, and business must follow. We  now have smart phones, smart TVs, smart watches and even smart  nappies. What they all have in common is the ability to collect,  share and use data to improve functionality and performance. Most  companies now collect data with the intention of gaining new  insights, yet most have no idea how to let the data shape strategy  and decision-making. SMART businesses are able to thrive in this  new world and marry the best of traditional metrics and data sets  with insights gained from big data and advanced analytics. This  book provides a practical framework to help businesses become SMART  and leverage big data and analytics. Illustrated to many real world  examples from a cross section of companies and organisations, the  book will take the reader through these following five steps (the  SMART model):  1. Start with Strategy  with the limitless amounts of  data available today, companies need to clearly define what it is  they need to know. Any framework for big data exploitation and  analytics has to start with the key business questions a company  needs to answer.  2.  Measure Metrics and Data This part will outline how  companies can collect relevant data and measure the metrics that  will help them answer their most important business questions. It  will cover the different data sets and explain how companies  collect and leverage them. In particular, it will cover how to  combine Big and Small data to deliver  breakthrough results.  3.  Apply Analytics  this part outlines how companies  turn their data into insights with many practical examples of how  big data analytics generates real business benefits.  4.  Report Results  this part will look at how the  results of big data analytics can be visualised and communicated to  ensure key decisions-makers understand them.  5.  Transform  this final part discusses how SMART  companies use the insights gained from their data to transform  everything their do. For this, companies need to create a culture  of fact-based decision-making where data and insights are used to  improve and challenge everything a business does.

Publishing date: 2022-08-31; Unabridged; Copyright Year: 2022. Copyright Statment: —

• Business & Economics