A leading elevator manufacturing group helps transit over a billion people on a daily basis. Although it isn’t easy being one of the Big 4 elevator companies in the world by simply relying upon mechanical systems and equipment, but by wielding the power of analytics and digital transformation, it is possible.
Connecting citizens to the world of internet has become increasingly essential for the development and social progress of a country. With the launch of the Digital India program, the Indian government aims to transform India into a digitally empowered economy and seeks to integrate technology with the everyday life of the citizens.
“I do not believe you can do today’s job with yesterday’s methods and be in business tomorrow,” Nelson Jackson, automobile pioneer
The availability of large volumes of data is changing the way organizations look at most of their business processes and functions. In the context of internal audit (IA) also, new ways are coming up to utilize the power of analytics. To stay competent and ahead of the curve, the organizations should ask themselves the following questions — Is their organization still relying on traditional methods for its IA process? Does their IA methodology incorporate analytics? If yes, to what extent?
“Everything is connected to everything else — if only indirectly — and this is reflected in data.” – Eric Siegel, Writer
Have you wondered how the super cyclone that wrought havoc in Orissa in 1999 was different from HudHud, which recently hit coastal Andhra Pradesh? Officially recorded casualties caused by HudHud were 100, compared to 10,000 in areas devastated by the super cyclone. Total destruction was averted due to the timely and accurate predictions of the Weather Department, based on the analysis of past data.
Heard of the famous quote “In God we trust, all others must bring data” by William Edwards Deming? Today is a data driven world. Organizations across the world are accumulating large volumes of data over the years, which can be used effectively to derive business insights. The power of analytics has transformed the way we do Internal Audit today.
Analytics- the key business metric holds the power to transform important business decisions. In this blog post, Manoj Jha, Associate Director-IT Advisory Services shares his thoughts on corporates focusing increasingly on the use of analytics for developing better insights and drawing future business charts
Analytics is the discovery and communication of meaningful patterns in data. As a topic analytics has traversed from being discussed at the sidelines of industry and technology conferences to the top of the corporate agenda. With the extant promise of delivering performance improvements not seen since the redesign of core processes in the 1990s, these tools are likely to change the competitive landscape in quite a few industries in the years to come. Continue reading