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By 2023, 40% of enterprise intelligence initiatives will be business specific, purpose built for business thereby shortening the data to decisions time frame by 25%, predicted International Data Corporation (IDC).
According to IDC, Enterprise Intelligence encompasses four critical elements: the ability to synthesise information, the capacity to learn from the information, the ability to apply those insights at scale, and a data-driven culture.
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Enterprises in India were looking to invest in enterprise intelligence initiatives and projects for integrating knowledge specialists with business decision-makers to derive benefits such as improved decision-making, higher knowledge, and efficiency with the goal to drive improved financial, strategic, operational, and service level outcomes, the analyst firm said in a report on Thursday.
“The pandemic has highlighted the need to be resilient. Enterprises must focus on shifting from a “process-driven” mindset to a “data-driven” culture,” said Rishu Sharma, Associate Research Director, Cloud and AI, IDC India.
Sagnik Das, Senior Market Analyst, Cloud & AI, IDC India, said data was at the heart of the DX journey for any industry or vertical.
“Indian organisations are now realising the importance of leveraging enterprise intelligence across all domains of business operations as well as enterprise ecosystems to enhance strategic decision-making processes,’‘ he added.