KPMG launches data and analytics service
Manama, February 13, 2014
KPMG's management consulting practice in Bahrain has announced the launch its new 'Data and Analytics' service.
It has been created to help clients cut through the mass of data and information facing them, and provide key insights into how it can benefit their business, reported the Gulf Daily News, our sister publication.
Data and analytics is becoming a key issue for companies due to the overwhelming quantity of information available and the frequency and speed at which it is generated, said the report.
A recent global KPMG survey revealed that nearly 70 per cent of respondents considered data and analytics to be either crucial or very important for their business strategies.
However, over half (55 per cent) said they considered it difficult or very difficult to make decisions around analysing data.
"Companies are currently working in a complex world with respect to data," KPMG in Bahrain partner and head of management consulting Rajesh Menon said.
"There are a number of new areas driving data, from mobilisation, globalisation, cloud computing, and the rise of social networks - all of which have massively increased the amount of data facing companies," stated Menon.
"Today, the problem facing organisations is not how to gather more data, but instead, how to wade through the deluge to gather the most important pieces of data which, when properly analysed, will deliver valuable insight," he added.
The KPMG's data and analytics service will look at the following key areas for clients: Analysing whether there are any gaps in data and how to select the right information; how to manage data and which tools to use; change management; security issues around data; and carrying out a review to assess how effective the service has been.-TradeArabia News Service