The world produces more data than it can consume. Every minute, we watch more than 5 million videos and send over 200 million messages and emails. You read that right. Every. Single. Minute. Companies that want to tap into data-driven decision-making to dominate their competition need to collect the vast amounts of data produced and extract valuable insights using data analysis. But data collection can be extremely challenging.

Data is produced and consumed at volumes and speeds which were unimaginable just a decade ago.Top players have taken advantage of this growth. Tapping into data resources for actionable insights - aptly called the new oil - makes data-driven companies dominate their competition. But the proliferation of data can lead to growing pains. Companies find themselves increasingly incapacitated by the vast and messy nature of their in-house data.

The problem with modern analytics is that it overpromises and underdelivers. We can even quantify the disappointment: This begs the question: why even bother with analytics? Well, when analytics is done right, it pays back $13.01 for every dollar spent. In fact, data-driven companies outperform their competitors in almost every conceivable way. We have broached the topic of extracting value from data before, from how to set up the right data strategy to building a data-driven culture.