Read the article awarded the “Best Article” Trophy during the NTC 2021 Congress

“Best Article” Trophy: If the present is digital, the future will inevitably be analytical! What does that mean?

Thais Bandeira Cardoso, Director of the Fetransul System, received the “Best Article” Trophy last night, November 4th, during the NTC 2021 Congress – National Meeting of COMJOVEM.

Check out the award-winning article in full:

If the present is digital, the future will inevitably be analytical! What does that mean?

It is often said that data is the new oil, after all, in a world with a lot of data, making business decisions without consuming and using the best information increases the risk of failure. The worked data can produce valuable information, as long as the storage is organized and there is adequate interpretation, but are companies and their leaders prepared to work with this data melting pot and accelerate this technological and analytical process?

To answer this question, it is necessary to understand that it is not just about having leaders in the data and technology area, but also leaders in any business area who already realize that information technology can contribute a lot to leading this revolution, that is, we need to evolve towards a mindset and a culture more open to consulting data.

It is noticeable that many companies, mainly in the technology area and that use electronic commerce, e-commerce, already benefit from information technology to accelerate the consumption process by reducing the factor, achismo, existing in the decision-making process, however when we study companies with more traditional profiles, such as the transport sector, we realize that they still use little of the power of these analyses.

Today, information is data that is inserted in the context of processes, but knowledge is only acquired through the ability to interpret this data, obtaining answers such as patterns, trends, improvements and opportunities. AND how to work this data?

To be part of this global context, we need to differentiate the analytical culture, also known as data culture or Data-Driven culture, from technological tools. Culture is linked to how an organization does things, let's say it's your way, your DNA, where a company that has a data culture is recognized for being data-oriented, while the tools, boil down to a set of technologies, metrics, business rules and people that will aid in the speed and analysis of a large volume of data.

In everyday business we have heard many terms that have become increasingly popular, such as: Big Data, Data Lake, Data Mining and BI, they all refer to using data, but each is tied to a different way of doing it , so let's explore a bit:

Big Data – refers to working with large, complex, and varied datasets.

Data Lake – is related to the type of repository in which files are organized in their original formats so that they can be used by the company with technology tools.

Data Mining – is mining organizational data for increasingly accurate analysis.

BI – Business Intelligence – combines business analysis, data mining, data tools/infrastructure and practices to help get answers to business questions and thus guide business decisions.

All these resources, used independently or in combination, help companies to be more assertive, the great challenge is to create the habit of consulting data to make a decision, that is, to create a culture, because it is need perform a certain set of actions for a long time so that it is present in the DNA.

In the words of William Thomson, everything must be measured, analyzed and improved, it is clear that studying data will help companies survive in this increasingly analytical world.

With this we can say that the main pillars to obtain an analytical culture are:

• Business rule – knowing what questions we want to answer, objective, what we are going to measure, what we are going to measure for, where we want to go… it's no use starting this process if we don't know what we want answer;

• Culture – way of doing things, environment, engagement, habit of doing something every day, governance;

• People – team with analytical skills;

• Technological tools – method, technique, practice and systems and infrastructure to handle data;

The most visible advantages of starting this culture are in saving time, information with instant access, decision-making based on data, mapping the ideal customer profile, information in one place, forecasts of market trends, etc.

Many scholars in the field of data science believe that formatting a team ideal for data analysis is made up of 20% people who understand Business, 40% people with technology and 40% mathematicians and statisticians.

But you don't have to start robust, remember the simpler best! Then try to observe that your organization already has a certain generation of data, learn from it, understand the volume and variety, look for a system that organizes this data for you and most importantly, ask the right question, most importantly than having the information is knowing how to ask!

 START!! Remember: goals + people + system + information = analytical evolution.