Procurement Consulting Services For Banks

In the last decade, data has emerged as a new resource to create sustainable competitive advantage for businesses across industries. The amount of data generated is increasing exponentially with each device, sensor, terminal etc. generating large amounts of data. This data includes everything from simple notes, multimedia files to social media posts and transaction records. Traditional database management and data analytics systems are inept in analyzing such large amounts of varied data. With big data analytics, however, it is now possible to rapidly extract, transform, load, search, analyze and share massive data sets. This has opened businesses to an array of new opportunities which must be pursued to gain a sustainable competitive advantage.
Big data analytics has enabled identification of previously undetectable patterns and correlations by analyzing large, real-time data sets rather than smaller, point-in time data. As a result, business decision making capabilities are significantly improved and many of the reporting and analyses tasks can now be automated. Big Data Analytics has increased the ability to process data in four characteristic ways:

Volume

Several terabytes and petabytes of data can be analyzed

Real-time insights and actions can be generated

Different types of data can be coherently analyzed

Only quality data gets analyzed to generate meaningful insights

This helps managers to better measure and manage the most critical functions of their business. Predictive analytics techniques using big data also enables them to make accurate business forecasts by analyzing large amounts of historical data.
Valorant helps clients by identifying the business areas and opportunities that can be enhanced by big data analytics. We then work with the clients to develop the hardware, software and talent required to operationalize big data analytics at the client’s organization. Here are some of the key activities that we support in a typical big data and predictive analytics engagement:

Current state assessment to review existing processes and data analytics capabilities
Identify business areas that will benefit from big data analytics
Identify business areas that will benefit from big data analytics
Establish leadership support and help create a dedicated team of data scientists
Select a business area/unit to run a pilot and demonstrate value across the organization
Select and source the most appropriate hardware and software solutions
Establish related policies, processes and governance mechanisms
Create, test, refine and demonstrate analytical models
Develop repeatable models and expand applications to additional business areas