Data analytics is now a big part of any enterprise. Whether it is decision making or reducing cost, data analytics has become an integral part of the new business era.
What is data analytics?
Data analytics is a branch of science which transforms raw data into the meaningful conclusion which can be used to make important decisions. The process involves inspecting, cleaning and transforming, and modelling data. The techniques and processes of data analytics have been automated to mechanical algorithms that take raw data as input. There are four types of analytics namely
1.Descriptive Analytics
2.Diagnostic Analytics
3.Predictive Analytics
4.Perspective Analytics
Indian construction engineering company Larson and Turbo is commonly known as L&T. They leverage data analytics to make important decisions and to optimize productivity. Keshab Panda, CEO of L&T technology and services, answers some of the key questions regarding their data analytics initiatives.
LTTS’s dependency on data analytics when it comes to making critical business decisions and examples where the firm is leveraging data
People at LTTS are working with engineering analytics being at the core of their decision support system across the organization. LTTS’s engineering analytics engine is called “DART”. DART assist in providing analytical insights across various business operations and processes, correlating data, and offers visibility.
Also, in this pandemic situation induced new normal, various analytical reports have facilitated them in enabling the safety of their employees. This also helped in securely promoting them to work from home ensuring seamless and uninterrupted business continuity to their customers.
While implementing an AI solution enterprise-wide, let’s see how LTTS is handling the change management and employee reluctance of adoption.
Anxiety in the minds of employees is triggered at first which arises out of change is the apprehension around a sense of security. And with due consideration granted to communicating employee benefits, this calls for conveying the change in a positive light. Another key aspect is the involvement of senior-most leadership in the entire change process including matters of communicating. Moreover, the influence of empathy and inclusiveness in a true sense also helps calm the nerves to a huge extent while scoring high on the trust quotient as well as observed during the ongoing new normal.
