Data Analytics: Change in mindsets important to reap the rewards
Driven by the UAE Vision 2021, organisations in public and private sector across the country are actively taking initiatives towards digital improvement and utilizing big data analytics to boosting efficiency and performances, according to senior Chief Information Officers (CIOs).
More than 25 CIOs from various market sectors including oil and gas, facilities, logistics, finance, energy and IT, throughout the UAE brainstormed on the emerging obstacles and opportunities with the increase in the volume of data created by embedded systems throughout the 4th CIOMajlis, focussed on 'Advanced, Pervasive and Invisible Analytics', held at the Dubai Creek Golf and Yacht Club.
During their presentations on 'How to save 1,000 lives through amplified intelligence in healthcare', and Advanced analytics for decision support in Public and Private Sector. Ankit Bisht, Associate Partner, Mckinsey and Company and Gerry Aue, Expert Associate Principal, discussed the various methods which data analytics can assist capture significant chances and efficiencies.
"The UAE's vision 2021 is a driving force leading business towards digital changes and developments. Both government and private sector are creating evidence of ideas and carrying out advanced analytics use cases to support tactical and functional choices. The momentum has just begun and many future initiatives, particularly those had to attain UAE's smart vision, will need private and public sector to operate in close collaboration with each other," said Bisht.
"Organisations can gain in profitability, quality improvement, customer service, productivity, opportunities, revenue areas identification, based on using advanced analytics for decision making," said Aue.
According to a recent Gartner research, analytics will take spotlight with the boost in the volume of data created by embedded systems and as vast pools of structured and disorganized data inside and outside the enterprise are examined.
Specialists explain the need to successfully handle big volume of information being generated through IT, social media as well as wearable devices and utilize the right data according to the requirement of an organisation.
"There needs to be a clear focus driving using cases that make business sense. A company needs to connect technology to this usage cases. They also have to effect modification in mindsets and be ready to handle the changes that develop as a result," added Aue.
Ali Abdul Aziz Al Ali, Vice President IT, Abu Dhabi National Oil Company (ADNOC), said: "There is a clear shift in mindset in the area in terms of implementing smart measures to enhance functional efficiencies and deliver.".
He discussed how, ADNOC, which tape-records millions of deals on a daily basis, has utilized information generated through various modes- social networks, mobile and others, keeping customer experience at heart and brought efficient changes that have assisted it enhance consumer experience.
Abdulqader Obaid Ali, Chief Executive Officer (CEO), Smartworld, stated: "Data analytics is a highly relevant subject as business across the UAE embrace latest smart measures in line with the vision of our leadership. By bringing CIOs from different sectors on a typical platform, we are experiencing an extremely finding out and productive exchange of concepts and knowledge that will have a guaranteed favorable effect leading business to higher earnings, better client service and enhanced efficiencies.".
Ahmad Al Mulla, Senior Vice President, Information innovation, Emirates Global Aluminium, Chairman of the CIOMajlis, said: "We are really pleased with the tremendous reaction that the CIOMajlis is witnessing, the variety of members is enhancing quickly. The coming months will witness not just knowledge sharing on the most recent issues, we will likewise see new initiatives.".
