Data Analytics: Change in mindsets important to reap the rewards

4th CIOMajlis focusses on 'Advanced, Pervasive, Invisible Analytics'

Dubai, April 26, 2016: Driven by the UAE Vision 2021, organisations in public and private sector across the nation are actively taking initiatives toward digital transformation and using big data analytics to enhancing performance and efficiencies, according to senior Chief Information Officers (CIOs).

More than 25 CIOs from different industry sectors including oil and gas, infrastructure, logistics, finance, energy and IT, across the UAE brainstormed on the emerging challenges and opportunities with the rise in the volume of data generated by embedded systems during the 4th CIOMajlis, focussed on 'Advanced, Pervasive and Invisible Analytics', held at the Dubai Creek Golf and Yacht Club.

During their presentations on 'How to save 1,000 lives through amplified intelligence in healthcare', and ‘Advanced analytics for decision support in Public and Private Sector’. Ankit Bisht, Associate Partner, Mckinsey and Company and Gerry Aue, Expert Associate Principal, explained the numerous ways in which data analytics can help capture significant opportunities and efficiencies.

"The UAE's vision 2021 is a driving force leading companies towards digital transformations and innovations. Both government and private sector are creating proof of concepts and implementing advanced analytics use cases to support strategic and operational decisions. . The momentum has only begun and many future initiatives, especially those needed to achieve UAE’s smart vision, will require private and public sector to work in close partnership with each other," said Bisht.

"Organisations can gain in profitability, quality improvement, customer service, productivity, opportunities, revenue areas identification, based on using advanced analytics for decision making," said Aue.

According to a recent Gartner study, analytics will take center stage  with the increase in the volume of data generated by embedded systems and as vast pools of structured and unstructured data inside and outside the enterprise are analyzed.

Experts point out the need to effectively manage huge volume of data being generated through IT, social media as well as wearable devices and use the right data according to the requirement of an organisation.

"There has to be a clear focus driving by use cases that make business sense. A company should link technology to this use cases. They also need to effect change in mindsets and be ready to manage the changes that arise as a result," added Aue.

Ali Abdul Aziz Al Ali, Vice President IT, Abu Dhabi National Oil Company (ADNOC), said: "There is a clear shift in mindset in the region in terms of implementing smart measures to enhance operational efficiencies and deliver."

He explained how, ADNOC, which records millions of transactions on a daily basis, has used data generated through different modes- social media, mobile and others, keeping customer experience at heart and brought effective changes that have helped it enhance customer experience.

Abdulqader Obaid Ali, Chief Executive Officer (CEO), Smartworld, said: "Data analytics is a highly relevant topic as companies across the UAE embrace latest smart measures in line with the vision of our leadership. By bringing CIOs from different sectors on a common platform, we are witnessing a highly learning and productive exchange of ideas and knowledge that will have a definite positive impact leading companies to higher profitability, better customer services and enhanced efficiencies."

Ahmad Al Mulla, Senior Vice President, Information technology, Emirates Global Aluminium, Chairman of the CIOMajlis, said: "We are very pleased with the tremendous response that the CIOMajlis is witnessing, the number of members is increasing rapidly. The coming months will witness not only knowledge sharing on the latest issues, we will also see new initiatives."