Automation And The Future Of Business Analytics

From an analytical standpoint, it was hard to see Covid coming, or at least its long-term repercussions on our daily life. And as we continue to adapt to a world under a global pandemic, where uncertainties abound, analytics is poised to be a game-changer when it comes to customer experience and long-term retention. 

Meanwhile, the world has also seen an uptick in the automation of business processes across every industry. As of September 2021, nearly 40% of global businesses increased their use of automation, such as software bots, in response to Covid. Automation is ideal from a public health standpoint, as it helps foster social distancing.

The benefits of automation are myriad, however, especially in the increasingly competitive world of business analytics. Using automation, business analysts may become more efficient and accurate, allowing companies to make more informed business decisions. While analytics holds the key to navigating these uncertain times, streamlining data analysis through automation is equally crucial. If the skill is lacking, programs like Power Automate training can be introduced to empower specific employees, including analysts, to harness the power of automation, freeing them from repetitive tasks and unlocking deeper insights for a competitive edge.

Here’s what you need to know about the true potential of automated business analytics, and how to overcome any issues that may arise.

From Analytics to AI: Automation Is Everywhere

The process of automation may look quite different, depending on the industry. Regardless of your job title or industry, there are likely some repetitive tasks on your daily to-do list. In the realm of business analytics, much of that repetition surrounds data collection and interpretation. Data is a cornerstone of business analytics, and the simple fact is that automation is your ally when it comes to interpreting business data and using it to your advantage. 

The fact is that data interpretation is time-consuming and ranks among the most tedious tasks in the world of analytics. There’s even scientific data to back it up: According to Forbes, data scientists and analysts consider data preparation to be the “least enjoyable” part of their job. 

Of course, the aforementioned survey was conducted in a world that had yet to be upended by a highly contagious strain of the novel coronavirus, and automation was still a fringe element of business analytics. Today, automation is a driving force when it comes to making analytical business decisions, whether they are financial or ethical in scope. 

The automation of business analytics allows for improved data quality, as well as the increased ability to extract usable data from multiple sources. What’s more, this highly efficient data collection and interpretation process takes much less time than conventional or analog methods of analyzing data.

Optimizing Customer Service with Help from Automation

It’s important to note that automation is far from infallible, and analytics professionals are bound to run into problems from time to time. For example, one of the biggest downsides to automation is the loss of the human element, but it doesn’t have to be an either/or scenario. 

In fact, your customer service skills don’t have to suffer as a result of increased automation and fewer face-to-face business interactions. Rather, automation can even have the opposite effect, optimizing customer service over time. Whatever your business goals, data can be sourced from an essentially infinite number of places, including social media.

Across platforms, social media offers a wealth of consumer data that can be used to improve revenue and streamline various business processes. Consumers utilize social media platforms to share their experiences with a product and/or service, meaning that a company’s reputation (and revenue) can hinge on the customer experience, for better or worse. A large number of consumers will outrightly abandon a brand in the event of poor customer support, potentially inspiring others to do the same. 

Your business may never recover from the fallout of a negative social media customer support experience. Before reaching that point, however, social data can be used to optimize the customer service experience and solidify your reputation as a top industry name. As there’s a nearly constant stream of social media data out there, automation provides a convenient avenue for collecting, cleaning and utilizing that information to your advantage. 

Staying on Top of the Analytics Game

Since the process of collecting and interpreting data is vital to any modern business plan, there’s a growing need for professionals who can make sense of it all. Among analytics professionals at every level of the game, expanding your skillset can help you stand out from your peers, give you a wider global perspective, and introduce you to promising automation technology. 

One promising avenue in this regard is within the relatively new field of information systems. A sort of hybrid option, a management information systems degree combines elements of computer science, including analytics, with a people-minded approach that’s beneficial to businesses of all sizes. The University of Alabama at Birmingham, Collat School of Business reports that information systems professionals are in high demand, and typically receive lucrative compensation upon entering the analytics workforce. 

Key Takeaways

Across industries, data holds the key to long-term business success, but it has no real value if it remains stagnant. As we face an uncertain future amidst an ongoing pandemic, companies are finally beginning to harness intelligent automation, and use valuable consumer data to their advantage. The future of business effectively hinges on our ability to integrate automation into the world of analytics, improving efficiency and boosting customer experience, one data set at a time.