Building Resilience with the New Generation of Analytics

Building in, and on, resilience

With all the uncertainties this past year have brought, everyone is trying to maintain consistency and looking for ways to find control in the moment. But organizations are also looking to bake in resiliency moving forward to avoid future ambiguity. Thankfully, there's a new generation of analytics on the scene, helping organizations do just that: build in added resiliency and on the resilience they've gained in past months.

So, what do resilient organizations do differently in their practice and approach to analytics? In a recent webinar, Lori Witzel, Director of Product Marketing at TIBCO, spoke with Dan Vesset, Group VP of IDC Analytics and Information Management Advisory Practice, to find out.

Moving from crisis to recovery

Resilient organizations are able to quickly move from crisis to recovery. And next-gen analytics capabilities are playing a vital role in allowing companies to adapt during periods of uncertainty and rapid change.

With so much data and so many different types of data available today, organizations absolutely must be event-driven and use real-time data, meaning traditional data architectures are no longer sufficient. Organizations stuck with only those traditional technologies are starting to see significant challenges.

In a recent IDC survey, half of the organizations said that they are very or substantially challenged by:

• Inability to synthesize data into actionable information
• Too much data to deal with
• There is a general lack of trust in data quality
• Don't have access to the right tools

A new generation of analytics

To overcome these challenges, organizations need to embrace the next generation of analytics. So, let's unpack next-gen analytics. Analytics technologies have been around for quite some time, but, according to Vesset, there's a new generation of capabilities on the market.

Some hallmarks of next-gen analytics are:

• Top-level executives have finally really bought into the value of analytics. IDC's survey revealed that 87% of CXOs said that becoming a more intelligent enterprise was their top priority for the next five years.
• Furthermore, 70% of managers and directors confirm that in the past 12 months their executives have explicitly called for their enterprises to become more data driven. Becoming a more intelligent enterprise is not just about the technology, it's also about changing the culture to be more data driven. It's about improving an organization's data literacy. None of this would be possible without a new generation of technologies that integrates different types of analytics.
• Next, we've heard for a long time organizations talk about democratizing analytics, but we're now starting to see signs of that actually happening. We're seeing a broadening of decision making power and teams within organizations that need analytics support.

Next-gen analytics from TIBCO: Hyperconverged Analytics

New demand is driving investment in next-generation data analytics that provides fast, flexible, robust analysis not possible with legacy architecture, technology, and culture. New converged analytics combines data exploration, data management, and AI-enabled automation to improve business outcomes and ensure resiliency.

Take the platform approach with TIBCO Hyperconverged Analytics to create a seamless experience to deliver immersive, smart, and real-time insights across different use cases. Check out the full IDC report and guide to next-gen analytics to learn more.