What motivated SAS to expand its presence in the Peruvian market?
Currently, Peru is an attractive market to do business. We are also very comfortable operating in the national IT sector, which is a growing steadily. The industries of telecommunications, banking, insurance, mining, IT, and manufacturing are very important and in SAS we know that business analytics can make a difference in every one of them. Peru, in cooperation with the rest of the countries in the region, has a lot of potential, due to its stable economy; therefore, it is an excellent market to invest.
What is the significance of the Peruvian market for SAS?
Latin America is an important market for us. And while SAS has offices in many of the countries in the region, Peru will become an important place to invest in over the coming years. Our idea is growth in the next 10 years, and to position ourselves in the market. This is the reason why SAS establishes an office in Peru.
How can business analytics change the way Peruvian companies do business?
Business analytics change the way that people make decisions. It covers the way individuals and firms analyze and distribute data. In this way, they can make the right decision in real time or near real-time. Based on that recommendation, companies adopt business analytic strategies that help them generate information based on the data and allow them to be more efficient in the market. Doing so differentiates companies from their competitors. These advances work brilliantly in telecom, mining, retail, and banking. For example, in the retail sector, we have solutions oriented to price optimization. The idea is to define the best price and best margin for the product. This means that the market contribution for the company is better and increases. Firms can increase the margin when you implement these kinds of solutions. They can generate the best price for their final customer. In the Marketing area we have solutions that we allow marketers to design and execute contextual customer interactions based on insights gleaned from big data and analytics. Measure and optimize the customer experience in both the digital and physical worlds. And link customer-driven strategies to your business goals. Our Customer Intelligence solutions solve the most critical challenges that modern marketers face. In the banking sector, there are different solutions related to risk, fraud, and anti-money laundering. We can provide them solutions to increase real time fraud detection and decrease risk exposure.
How would you assess the level of technology integration in businesses in Peru?
We have excellent technology and integration here; however, the level of data analytics is not appropriate for a market of this size. For example, in the financial sector, banks have massive quantities of data and technology; however, they lack a high level of analysis. We have an opportunity to provide them with more information, and assist them in making better decisions. For the average company, 80% of the data is not used, and this is a huge loss. The analysis would decide which parts of the data are important and unimportant, and which data can be used to make a better decision. There are cases where the company tries to analyze all the data and make a decision with all of it, which is impossible. Part of our solution is to take the information and separate it into categories that are important to make decisions.