In this blog post I will refer to the – from my point of view – very exciting and important speech of Joe Kaeser, president and CEO of Siemens AG regarding his companies “Vision 2020”. Data analytics play an essential role in it, which I obviously liked a lot:
The company dab was founded 10 years ago. There has been a lot of development over the last years when it comes to big data analytics. For Internal Audit we did groundbreaking work in that area, starting with the STAAN project in 2005, which was done in cooperation with Bayer AG Corporate Audit. Our focus has been on data extraction and data analytics for SAP® data from the early days on already. (Here you can find the German version of the articles about the STAAN project which has been published in ZIR, and the excerpt of the book that was based on that project.)
It is our goal to establish data analytics as “must have” globally in companies of any size, making it daily business by making the necessity and benefits transparent. In a digital world, performing data analytics is not a nice-to-have thing; it is a strategic must-have necessity.
But back to Joe Kaeser and Siemens: In his speech he pointed out some important points and challenges which I listed here for you. The full speech can be downloaded here, or looked up at the Siemens website.
“Focus on data analytics platform and cloud strategy: However, wise strategies for the cloud and for data analytics are also prerequisites.”
I think, this is an essential point. Especially analyzing big amounts of data combined with aspects of “The Cloud”, data privacy & protection, good analytic performance plus the need of transferring Terabytes of data over the internet contains challenges which are not fully solved yet.
Additionally, he mentions „Digitalization“ in context of the megatrends or the last few years: “Digitalization involves and enables: collecting data, analyzing data and drawing the right conclusions.”
This statement describes the base of your company: Extracting data, mainly from SAP® (collecting data), analyzing it with our predefined tests (analyzing data) and interpreting the results in a correct way (drawing the right conclusions). Drawing the right conclusion requires to know the business processes which are generating the big amounts of data very well. All of this is condensed in our mission statement “Changing Data Into Knowledge”.
Looking at the speech of Joe Kaeser, data analytics is nothing that should be seen as optional. The data analytic revolution has begun several years ago already. Should you have missed it - for almost any company, now it is the time to seriously start thinking about their data analytic strategy. For any comments, questions or request, feel free to write us at firstname.lastname@example.org.
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