Data analytics as an integral part of the business model

Companies usually collect and store customer data for a specific, predefined purpose in order to then process it exclusively for the same. In addition, IT systems independently generate further data that is not a priori aimed at later processing, so-called metadata. Thus, classic log data is not processed productively as a matter of course, even though a great deal of additional, implied information is hidden in it. With data analytics, it is possible to extract this implied information, interpret it, and use the resulting insights. For this, in addition to a clear data strategy, the necessary methods and expertise are of particular importance. Only with a clear idea of the intended goal can data analytics be used in a targeted manner. The following applies: the more precise the better.