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data analytics

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.” When it comes to best practices when starting or growing a business, analytics will soon be added to the list in conjunction with “understanding your customers”. In......

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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 across the board are: Analytics requirements This determines the needs for the BI system to be implemented. The tools and services which are necessary to achieve the......

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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 of context and audience. Determine the appropriate type of graph to use in your situation. Direct your audience to the most important part of your data. Think......

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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 isn’t supported. • Excel proficiency is needed and the average business owner may be lacking in it. • Spreadsheets are latent and may lack in accuracy. Thankfully......

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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 the period of 2015- 2017: Self-service analytics Gartner describes self-service analytics as: “Self-Service Analytics is a form of business intelligence (BI) in which line-of-business professionals are enabled......

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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 is then divided into software modules that run a replica of their standalone counterparts. Gartner says, “ERP tools share a common process, data model, covering board and......

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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 need to buy servers which will occupy a huge amount of space with time, you will need to also have to account for sitting space for the......

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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, presenting and disseminating business data. In an insurance company, this would be data sourced from Sales, Claims, Marketing and Premiums etc. BI tools ensure that data from......

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A data model that is well-designed is the foundation to creating business intelligence and data warehouse applications that result to a significant business value. It is the key to success in Business Intelligence (BI). It is paramount that the process is business-centered. It starts with the clear understanding of the business, its purposes, and how the data will be used to support the business. Effective data modeling results in transforming data into an enterprise information resource that is rational, far-reaching and present. Data is transformed from operational or source systems into a......

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Power BI is a suite of business analytics tools that deliver insights throughout your organization. Its main selling points are integrated data sources, simplified data preparation and driving ad hoc analysis. Power BI has a dynamic graphics display, customizable dashboards that offer an all-round view of your business. It is a leader in the Magic Quadrant for Business Intelligence and Analytics Platforms. Ease of Use Power BI can be used for multi-level clients. Different roles can utilize the suite. From users, administrators, sponsors, consultants, agents and analysts. It is easy to use......

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