The business evolution has taken different era of analytics data development. The development of analytics has taken three stages characterized by distinguishing characters in a particular era. These stages comprise of different era characters that have contributed in business evolutions and more particularly to data analysis and performance in customer, products, and services.
Analytics 1.0 indicates the business intelligence as it shows beginning of the ability to use and utilize data in firms’ operations. These data sets were in small volumes and their velocity segregated in a manner of analyzing the businesses performances (Davenport, 2013). The era also comprised of enterprise data warehouse that helped in improving organization performances. In the Analytics 2.0, the era of big data, it was characterized by internet-based operations in businesses. The firms depended on a social network such as Google and eBay in analyzing their information data. The analytics 3.0 comprises the development of firms’ websites with better search algorithms, attractive features to customers’ products and services performances. Pioneering big and enormous amount of data are some of distinguishing characters of analytics 3.0 stage of evolution (Davenport, 2013).
I agree with the evolution of analytics by Davanport (2013) characterizations in three stages. These stages provide platform for business to understand the development of products and services. In the current era that is in analytics 3.0, it helps the firms to realize the importance of technology innovation. These strategies in analytical evolution contribute wellbeing of the business in performance and connecting with customers. It is characterized by fast internet connection, technological innovation and application of analytic data in defining. Therefore, analytic evolution helps the businesses have evaluated their performance and progress.
Reference
Davenport, T. (2013). Analytics 3.0. In the new era, big data will power customer products and
services, Harvard Business Review.
