Speaking at the first data analytics, artificial intelligence, and data governance symposium in Kampala, Tayebwa said he would ensure Uganda catches up with technological development. “Many of our youths in the private sector have run ahead and are already benefitting from AI even in the absence of enabling laws,” he stated. Adding “As a government, we need to work faster to own and manage local data and empower Ugandans to use it to make data-driven decisions”.

He underscored the need to establish a law to regulate the use of artificial intelligence in the country, calling for the strengthening of existing data protection laws at both the continental and national levels for the benefit of users.

In his key note address at the Symposium, Dr. Fred Muhumuza, a senior economist and development expert, said government and Ugandans need to have access to reliable big data to make informed decisions. He highlighted the importance and urgency of data integration and interrogation, especially in the policy environment to enable Social-Economic Transformation in Uganda.

The symposium which brought together over 150 CEOs and top executives from diverse sectors including media, banking, fintech, government, agencies and private sector, was themed; “The role of Data Analytics and Artificial Intelligence in social-economic transformation”.

The symposium convener and CEO of Task Managers Ltd Arthur Arinaitwe said the event had been in the offing since 2018, to bring together industry experts to discuss data usage and management, while enabling businesses to fasten and make more accurate decisions to offer better solutions sustainably to their customers.

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Collecting and using company data analytics can help your business. We’ll talk about cloud-based analytics and discuss why they matter for companies in 2023.

What Does This Term Mean

Cloud analytics means the deployment of scalable, cloud-based computing for your business entity. Cloud computing is on the rise, and many companies are going to it. When you do so, if you enable cloud analytics, what that means is you have put in motion powerful analytic tools enabled by the new software you’ve installed. There are myriad ways to potentially use the data you’re now free to collect and scrutinize.

What Can You Do with the Data You Collect

The term analytics means systemic, computational analysis. It might also refer to the raw data you collect from such an analysis.

As someone running a business, when you set up and start using cloud analytics, you have access to a whole new universe of data about how you’re running your company. You can sit down with that data and apply it to your business model in practical ways.

What Are Some Examples

With cloud analytics, you can see what companies you should continue doing business with that are supplying you with the raw materials to make your products. You can figure out where most of your website traffic is coming from and how to get more of it.

You might use the data you collect to see how successful your marketing campaigns are and which ones you should scale back or discontinue entirely. You can track your national or global success rate in terms of customer satisfaction and retention.

What is the Biggest Argument for Cloud Analytics

You might also use the data you collect to uncover trends or patterns in your business model that was all but invisible before. You can get advanced data that reveal what demographics your products and services appeal to, and you can make decisions based on that information.

Why Cloud Analytics Make Sense for Your Company

Once you have gone over to the cloud computing system, you can enjoy enhanced security measures, such as secure software platform logins for all your workers. You’ll have easier access to data storage. You can encrypt your sensitive data and make it less likely hackers can access it.

However, you can also save money and time because you’re letting another company handle all of your software and hardware updates and upgrades. You’re going to a SaaS model, which puts less strain on your IT department.

Cloud analytics means using and embracing the latest technology. You can completely overhaul the way you do business with the data you collect. This might be the final piece of the puzzle that lets you overtake and surpass your competition.

ALSO READ: WHY DO YOU NEED CLOUD-BASED SERVICES FOR YOUR BUSINESS?

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That’s why, at the heart of successful smart devices, is an effective data analytics strategy. Here we assess how data analytics can be aided by smart devices, and how you can harness that to improve your own business success:

Improving Customer Experiences
One of the main draws of using smart devices to assist or drive your data analytics strategy is that these devices can improve your customer experience, by helping you to better understand your customers’ needs and the way that they utilize your products in the first place. Retail is thriving in this data-driven arena, and harnessing customer information in this way is successfully driving a new technology-driven strategy within this field. But the potential is much wider than simply retail. Using this data-driven strategy is how retailers such as Amazon have thrived in the past five years.

Retailers now focus on connecting with their customers, making the journey to purchase as easy and as friction-free as possible for them, and anticipating their needs. New data streams and applications are what make this possible.

Increased Operational Efficiency
If you’re operating within a manufacturing arena then smart devices will be most useful for your business to help improve operational efficiency. Your machine downtime can be managed and limited, for example, because you will be instantly aware of how much use a machine is having and when it will be next due for service or repair. Digital twin technology is the latest development in this field, enabling workers to learn on the job, and allowing operational costs and system downtime to be slashed considerably when something goes wrong. AR headsets, tablets, and smart goggles can all be used to make maintenance or part upgrades faster and smoother than ever before.

The drive to reduce waste is something that is closely linked to operational efficiency, and something that can also be enhanced using smart device digital data. Smart devices can help businesses to better control their supply chain, ensuring that wastage is either removed or becomes a minimal concern, potentially saving millions.

Putting Data at the Heart
When designing a smart device, the way that the data that the device collates can be assimilated and used effectively should be considered. The role of the device as a tool for data gathering is just as important as its primary function because this data can be utilized in such a wide range of different ways. Putting data at the heart of your design is a smart choice and one that will ultimately lead to increased business success.

The post At the Heart of Successful Smart Devices is an Effective Data Analytics Strategy appeared first on PC Tech Magazine.