How to Monetize Customer Data
In today’s world companies throughout the world are collecting more client data than they ever have before—yet many companies have failed to recognize (and leverage) it’s value. Yes, you have a ton of customer data, but do you really know what to do with it? You likely already know that customer data is an integral component of managing your relationship with your client; it can...
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DIY Business Intelligence
Business Intelligence is an all-encompassing term that refers to all activities and best practices necessary for a business to turn data into actionable knowledge. BI includes-primarily- data warehousing, analytics, reporting and visualization. Data warehousing is the collating of integrated disparate data sources into one centralized repository. Analytics is the systematic exploration of your company’s data, within the data warehouse. Or to put it in simpler...
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WHY ANALYTICS IS HERE TO STAY
Analytics is a wave from the future. Terms like Business Intelligence and Big Data are becoming as common as “supply”, “market analysis” etc. Clearly, analytics is here to stay and you/your company should join the bandwagon- if you haven’t yet. Wikipedia defines analytics as, “The discovery, interpretation, and communication of meaningful patterns in data.” Further definitions state, “Analytics is the systematic computational analysis of data.”...
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WHAT COULD GO WRONG WHEN YOU INVEST IN BUSINESS INTELLIGENCE?
The implementation of Business Intelligence by a company is one that is exciting and difficult. It must be approached with utmost care and given the highest possible consideration. A lot can go wrong but to understand BI implementation here are the steps taken to integrate a BI system, which may vary depending on the needs of the clients, but the main parameters that are common...
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Data Storytelling
Story telling with data is how to communicate effectively with data using data visualization. In most cases, organizations recognize that being a successful, data-driven company requires skilled developers and analysts. Data is always remembered only when presented in the right way; slides, spreadsheet or graphs may not be the right way but a story is always the right way. Story Telling Entails: Understanding the importance...
Read moreWhy You Should Invest In BI Even If You Already Use Excel
Excel is the most commonly used tool for data manipulation and analysis.You will find that most companies are unwilling to incorporate Business Intelligence because they already have Office Suite. Excel comes as “free” and most office managers wouldn’t want to invest in a service which they seem to already have. However, relying solely on Excel presents the following set of problems: • Strategic decision making...
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TRENDS IN BIG DATA
The disciplines of big data and analytics are evolving so quickly that businesses should invest in them. Business Intelligence is expected to perform well operationally, meet governance standards, and fulfill promises of business value to the company. These trends have driven the migration of companies into big data and analytics and also brought changes to the analytics industry itself. Below are 8 trends observed in...
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Why You Need BI Even With An ERP System
Often the question asked when it comes to the implementation of Business Intelligence solutions is, “Why do I need BI if I have an ERP system in place?” Here’s why; Definitions of ERP and BI ERP (Enterprise Resource Planning) combines the multiple systems in different departments within an organization into a single integrated software program that runs out of a single database. One integrated software...
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Do you understand what Cloud Computing means?
You have heard everyone in your IT department go on and on about the cloud. Well, cloud computing is also known as the cloud. The cloud is an internet based platform for delivery of computing resources, on a pay for use basis. Well now I know I haven’t even explained that. Let’s break it down; You want to set up a data center, you will...
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WHY BUSINESS INTELLIGENCE IS VITAL TO THE SUCCESS OF THE INSURANCE INDUSTRY
The most important asset to ensure survival and success in today’s marketplace is data. Business Intelligence converts this raw data into actionable information. The internet, deregulation, increased competition, consolidation and convergence of insurance services with other financial services have changed the structure of the insurance industry. This has greatly increased the need to implement business intelligence tools within insurance companies. BI refers to collecting, analyzing,...
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