Tag: Analytics


Using Text Analytics to Analyze Customer Feedback

If your company is using open-ended survey questions in an effort to maintain a competitive edge, you may be surprised to learn there are ways that you can manage your unstructured data in such a way that it will allow your company to maximize its business value. While most everyone agrees that open-ended questions allow companies to better understand their customers’ experience, analyzing those insights, and coming up with the “why” behind the responses can be a challenge. If you can imagine collecting five thousand client surveys and then trying to categorize......

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Machine Learning for Predictive Analysis

Most everyone will agree that big data is a virtual untapped resource of intelligence that can both help support business decisions in addition to enhancing operations.  As data continues to change and diversify, businesses are beginning to understand the value of embracing predictive analytics. If you’re not familiar with what predictive analytics is, we’ll take a minute to explain it. First, you should start by knowing that predictive analytics and machine learning are not the same thing. Yes, they do overlap in some cases, but we’ll get into that later. Ultimately, predictive......

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How to Use Data Analytics to Increase Your Small Business ROI

Every business wants to maximize profits, but if you’re not using data analytics as a means of helping to boost your ROI, you should be. Business leaders throughout the globe agree that sales teams need to evolve if they want to remain competitive. And while managers agree that investing money in things like sales training and technology are important, because they understand the importance of responding to artificial intelligence and automation, they may not realize that they should also be evaluating existing data sets. The bottom line is simple- when data analytics......

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Differences Between Off-the-Shelf and Custom BI Solutions

If you’re trying to decide between an off-the-shelf business intelligence tool and a custom business intelligence solution, you’ve come to the right place. Business intelligence has grown by leaps and bounds in the past two decades. In the early days, users harnessed BI to help them marry complex SQL queries and MS Excel. Today, BI software has a growing number of self-service, user friendly functionalities. Not surprisingly, it has become a much sought after go-to for reporting and analytics. At the same time, there can still be a pretty big gap between......

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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 terms, figuring out what you know, don’t know and need to know within the scope of your company’s existence. The main aim of business intelligence is to......

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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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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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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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