As a business manager or a business team member, you probably make it your business to stay abreast of industry and market trends and to understand how best to use technology to refine business results and better understand your market, competition and customers. If you have been reading industry publications, you are probably familiar with the concept of augmented analytics and augmented analytics benefits.
Everyone has heard the term ‘natural language processing or NLP. So, what is natural language processing, exactly, and how can it help your business? NLP allows a program or software to understand language as written/spoken by humans so that people can interact with a system without using long strings of code. You use natural language processing every day when you engage with your word processing software to perform spell check, when your smart phone auto-corrects your words, when you use voice to text messaging, when your email system applies a spam filter, when you are served keywords that relate to a search you did on a search engine and when you use ‘assistants’ like Siri or Alexa.
When a business decides to undertake software development, it can drain resources and budgets and produce results that are often disappointing. If your IT team is too busy to take on custom software development, or if your IT team does not have the skills to engage in a project for software product development to introduce a product for sale into the market, the management team may be tempted to shelve a perfectly good idea that might provide additional revenue and profits.
The term ‘data analytics can seem daunting to the average business user. Isn’t analytics something that is the sole domain of data scientists? No, actually it is not!
If they are to help your users achieve their goals and understand what is happening within your organization, data visualization tools must be easy to use, with sophisticated functionality and an intuitive user interface. If you want business users to leverage data visualization software, you have to give them something they can easily use and adopt with smart visualization that will recommend the best way to process and visualize data, depending on what the user wants to interpret and the type of data they are working with and sharing.
Is your business trying to achieve digital transformation? And, just what the heck IS digital transformation anyway? Digital Transformation is the use of new, fast and f changing digital technology to solve business problems. It leverages cloud computing and other cutting-edge technologies to decrease reliance on hardware owned by the business and lean more heavily on subscription services and other shared resources.
The concept of Digital Transformation is comprised of numerous factors and, as the idea gains traction in the global technology arena, the term is used to refer to various aspects of technology and the transformation of businesses and culture from a silo environment of data, information, software, hardware and networks to an open, flowing environment of integrated data and easy access to information.
A great business intelligence tool does not have to be complicated or expensive. If you want to do it right, you should strive for data democratization and look for a BI solution that is designed for business users with average technical skills. BI software that is meant to be used by your business users will allow for quick and accurate decisions, ensure that everyone is working with the right information.
If your business is like most, you are trying to focus on the facts! You want to measure results and make plans, using the facts rather than opinion or guesswork but that can be difficult. Key performance indicators (KPIs) allow you to establish and monitor metrics and measurements that will tell you whether activities, tasks, and processes are getting you to your goals and helping you to meet your objectives. KPI Software is crucial to the management of your workflow, training initiatives, investments etc.
A data discovery tool is a crucial tool for every business user in your organization. With so many sources of data, in so many locations with your enterprise, it is impossible for users to know whether they have access to complete, accurate data to make decisions.
