Experian has launched a new analytics solution in the UK – following trials in the States – which it claims will help organisations make fast, reliable decisions with deeper insight than ever before.
Dubbed Experian Ascend Analytics on Demand the integrated data and analytics platform allows clients to access a full range of Experian’s anonymised trended data, delivering results securely in realtime in a range of formats to suit the user’s preference.
Enabled by open-source technology, the company insists the platform allows users to build their own predictive models to develop business strategies, including machine learning and artificial intelligence techniques, and make decisions.
The Ascend launch marks the first time this level of tailored self-service and instant analysis has been available to in-house analytics teams, Experian claims.
Tom Blacksell, managing director of B2B at Experian, said: “Businesses must be able to call upon and understand a range of data assets to compete in today’s economy. Ascend brings the very latest in analytical innovation to help them turn vast quantities of data into actionable insights. Leading in turn to more accurate and well-informed decisions, and ultimately bringing better services to market, more quickly, and increasing their revenues.”
The launch comes as research shows organisations are struggling to extract the full potential of the data available to them despite the variety of advanced analytics available. Experian’s Business Review found only one in three businesses currently use advanced analytics techniques and technologies to develop a deeper, more meaningful understanding of their data.
Just 29% combine both traditional and non-traditional data sources to gather more insight. Two in five businesses still rely on instinct and subjective opinion to make decisions.
However, 78% of organisations have made investments in advanced analytics to ensure they can deliver better business outcomes, while 71% plan to enhance analytics capabilities in the next 12 months – making it one of the biggest priorities overall.
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