analysis


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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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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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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Tableau is a business intelligence software solutions company that helps organizations see and understand their data- a highly valuable resource. Tableau provides business intelligence solutions from analyzing of business data. The software’s main objective is to ensure that clients gain the most insight from their business data. Tableau software solutions are meant to make data analytics more presentable, faster and easier. It offers real-time, up-to-date dashboards with data pertaining to all business areas and performance metrics. Tableau’s key selling points include attractive visualization tools and instant access to company-wide data via customized......

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Business Intelligence is an umbrella term that refers to the best practices done when collecting, analysing, disseminating and representing data. BI can be harnessed to ensure banks and their clients are laughing all the way to the, well, bank. But how? How can analysing business data do that? What is it about integrating BI into bank operations ensure absolute institution and customer satisfaction? What exactly is the role of BI in banking? The main roles of BI in banking are as follows: Monitoring cash flow Data about the movement of the money......

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Sample CEO Dashboard. Source: https://www.informationbuilders.com/ Dashboards and Scorecards are common tools used in business intelligence for supporting performance management. They are usually used for similar purposes and can be used at the same time but their functionalities differ. When choosing a dashboard or scorecard, one should consider the purpose of use, types of data to be monitored, and the focus on long term goals and strategy versus immediate goals. Use of visualization and key metrics in both tools are common thus confusing some people on their similarities. A data dashboard is an information management tool......

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