Jason Smith, Senior Director and Legal Counsel at Apttus, discussed the importance of data and analytics, and how they can provide a strategic advantage to organizations, during a Thought Leadership Spotlight Presented by Apttus at the 2015 Chief Legal Officer Leadership Forum in Chicago on Sept. 30. In his presentation, "Predictive Contracting: Seeing the Dangers of Bad Deals Before It’s Too Late," Smith noted that business intelligence (BI) is valuable because it ensures an organization can collect data quickly, and ultimately, stay ahead of its rivals.
According to Smith, big data analytics can be unwieldy due to the sheer amount of information that is available. He pointed out that organizations need tools that bridge the gap between analytics and the time and resources that are required to leverage them. However, Smith said the cloud can help eliminate this gap: "With cloud-based analytics enterprise data is centrally located and accessible by everyone. It allows for complete visibility and end-to-end management of business functions."
Innovation is driving the push for better analytics that are faster and easier to access than ever before, Smith said. As such, he said organizations are striving to incorporate cloud-based offerings that make it simple to leverage analytics into their everyday operations: "The reliability and the functionality of cloud-based business intelligence means enterprise class applications are deployed faster and more efficiently and they can adapt and change as business conditions evolve. As a result, enterprises are becoming easier to work with and can run faster than before."