Tag: Augmented Analytics Advantages

Use Key Influencer Analytics to Understand Data Relationships!

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September 26, 2024

Analytics Solutions Should Include Key Influencer Analytics!

What is Key Influencer Analytics ? Simply put, Key Influencer Analytics is an analytical technique that helps the user analyze and understand the various factors affecting an outcome, what variables impact the metric, and the ranking of those factors. Key Influencer Analytics takes the guesswork out of decisions by clearly illustrating what factors influence success of a pricing strategy, a business location choice, a marketing campaign, a research project, etc.

‘With the right analytics solution, your users can simply point to the dataset they want to analyze and Key Influencer Analytics will identify the target and the influencers or predictors that will affect the target, along with its impact.’

Grand View Research estimates the analytics software market at nearly 142B USD, with an expected growth of nearly 14% over the next five to six years. The reason for this growth is simple. In order to succeed in their market of choice, businesses must understand the competition, the customer and how their products and services are perceived and embraced in the market, so they can plan for the future and adapt to changes.

Key Influencer Analytics is Key to a Comprehensive Analytics Solution

There are a few factors that will impact the efficiency and effectiveness of the analytics solution you choose.

  • First, the data volume you want to analyze can be very large, and the data can come from disparate systems, so the ability to integrate and gather all data in one place is important. Depending on the size of the dataset a user selects, there may be hundreds or thousands of variables, and business users often find it difficult to identify the rights ones. Yet without the ability to identify the right variables, the business is likely to measure and attend to the wrong things.
  • Secondly, you must provide easy-to-use tools that your team can leverage to find what they need. Users should have interactive features that allow them to see and explore other combinations and impacts and can select target and predictors, and use them for models, reports or KPIs. Influencer Analytics empowers every business user and allows them quickly select and target data to achieve results without the assistance of a data scientist, IT professional or analyst.
  • Third, your team needs key influencer analytics to understand the interrelationships of data points and how they affect outcomes so they can adapt and adjust. With the right analytics solution, your users can simply point to the dataset they want to analyze and Key Influencer Analytics will identify the target and the influencers or predictors that will affect the target, along with its impact and it provides crucial metrics such as mean, outliers, and others and identifies relationship and distribution among variables. The system will auto-suggest relationships and present distribution and impact using the most appropriate visualization.

Here are just a few of the benefits of Key Influencer Analytics:

  • Identify what matters most in your data!
  • Understand the impact and interdependence of variables
  • Leverage auto-suggestions and machine learning to get data insights
  • Identify influencers affecting the target variable with auto-suggestions and quick maneuvers using different combinations

‘Key Influencer Analytics takes the guesswork out of decisions by clearly illustrating what factors influence success of a pricing strategy, a business location choice, a marketing campaign, a research project, etc.’

With Key Influencer Analytics your team can address the right issues and capitalize on opportunities to optimize results. Explore Smarten Augmented Analytics modules and components and the benefits of Key Influencer Analytics for your team and your enterprise.

Original Post : Use Key Influencer Analytics to Understand Data Relationships!

Citizen Data Scientists Can Partner With Data Scientists!

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August 6, 2024

A Citizen Data Scientist Initiative Can Optimize Data Scientists and Encourage a Data-Driven Culture!

According to some estimates, the average salary of a Data Scientist in the United States is over $150,000 per year. If your business wishes to accommodate a ‘data-first’ strategy to improve metrics and measurable success and avoid guesswork and strategies that are based on opinion rather than fact, it can either employ a team of expensive professionals, or it can take a different approach.

‘Citizen Data Scientists can use their knowledge of a business sector, industry, function or market to drive questions and develop reports and presentations to illustrate issues, identify problems and find opportunities for growth and competitive positioning, and share this data (and the search and analytical techniques) with other users.’

Citizen Data Scientists are business users who have a place on your team and are hired because of their professional and career experience in a particular industry, business function or discipline. When they are given access to data analytics, they can merge their knowledge of an industry, e.g., research, healthcare, law, finance, sales, supply chain, production, construction etc., with data integrated from databases, best-of-breed software programs, ERP, SCM, HRM and other systems and use sophisticated analytical tools in an easy-to-use, intuitive environment to gather and analyze data and produce insightful, concise results that are meaningful to their role.

Leverage Citizen Data Scientists to Augmented Data Scientist Teams

Depending on the size, market and industry of your business, you may choose to augment your staff with one or more data scientists to refine results produced by Citizen Data Scientists on a day-to-day basis. So, if a power user or business users discovers a challenge or an opportunity and your management team wishes to further explore the issue to understand its strategic or operational value, a Data Scientist can take the predictive model or other analytical report produced by a Citizen Data Scientist and refine the results for executive review.

Whether you choose to employ the services of a Data Scientist, provide business analysts or IT professionals to support your business users, you can create a comprehensive foundation for analytics across your organization.

By democratizing data analytics you can achieve many benefits, including:

  • Improved Data Literacy Across the Enterprise
  • Improved Productivity of Data Scientists, IT and Business Analysts (who can spend time on strategic initiatives rather than producing daily reports)
  • Optimized Return on Investment (ROI) and Total Cost of Ownership (TCO) for all software and systems
  • Fact-Based Decisions and Metrics-Driven Strategies, Goals and Objectives
  • Team Member Career Advancement
  • Optimization of Resources and Improved Team Productivity

A comprehensive self-serve augmented analytics solution will include Modern Business Intelligence (BI) and Reporting with Key Performance Indicators (KPIs), Self-Serve Data Preparation, Assisted Predictive Modeling, and Smart Data Visualization with auto-suggestions to drive the analytical techniques and illustration of data based on data type, volume, etc., and other tools like Embedded BI, Mobile BI, Key Influencer Analytics, Sentiment Analysis, and Anomaly Alerts and Monitoring.

With these tools, the Citizen Data Scientist can leverage Natural Language Processing (NLP) and search analytics with machine learning to ask questions using simple human queries and receive insightful answers. They can use their knowledge of a business sector, industry, function or market to drive questions and develop reports and presentations to illustrate issues, identify problems and find opportunities for growth and competitive positioning, and share this data (and the search and analytical techniques) with other users.

Citizen Data Scientists can predict customer responses to new product features, and to new marketing campaigns, analyze the likelihood of fraud or risk, identify supply chain issues, etc. These tools can also help the organization to foster collaboration and data sharing and encourage business users to innovate, create and explore opportunities using data-driven, factual information.

‘When Citizen Data Scientists are given access to data analytics, they can merge their knowledge of an industry, e.g., research, healthcare, law, finance, sales, supply chain, production, construction etc., with data integrated from databases, best-of-breed software programs, ERP, SCM, HRM and other systems and use sophisticated analytical tools in an easy-to-use, intuitive environment to gather and analyze data and produce insightful, concise results that are meaningful to their role.’

These are just a few of the factors you must consider when implementing a Citizen Data Scientist approach. Business users who are interested in becoming a Citizen Data Scientist must be willing to embrace new technology and tools and working at the leading edge of a new approach to collaboration and decision-making. initiative. Consider engaging an expert for your Citizen Data Scientist. IT consultants with experience and skill in this area can provide crucial support to help you succeed with your Citizen Data Scientist initiative and can provide simple Training Programs to bring your team on board and help them see the value to themselves and to the organization.

Original Post : Leverage Citizen Data Scientists to Augmented Data Scientist Teams!

Understand PMML (It’s Not That Hard)!

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May 13, 2024

Incorporate PMML Integration Within Augmented Analytics to Easily Manage Predictive Models!

You may not be an analytics expert and you may find terms like PMML Integration somewhat daunting. But in reality, the concept is not complex, and the value is outstanding!

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White Paper – Enabling Business Optimization and Expense Reduction Through the Use of Augmented Analytics

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May 9, 2024

White Paper – Enabling Business Optimization and Expense Reduction Through the Use of Augmented Analytics

No matter the reason or the goal, when an enterprise chooses the right Augmented Analytics solution and carefully plans for and executes its implementation, it can optimize business results, reduce expenses and improve its market position, customer satisfaction and user adoption, and it is key to transforming business users to Citizen Data Scientists to improve results and team skills. Here, we examine the benefits of Augmented Analytics and how to plan and successfully execute an Augmented Analytics initiative.

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Should I Start a Citizen Data Scientist Program?

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October 4, 2023

Is it the Right Time for My Business to Initiate a Citizen Data Scientist Program?

Whether you are a business owner, a business executive or a business manager, or you just like to keep up with industry trends, you no doubt have read about the transition of business users to Citizen Data Scientists. The topic has been in industry journals and publications for years, and it is still relevant today.

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Case Study : Smarten Augmented Analytics Case Study- Implementation for India-Based Restaurant Chain!

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May 11, 2023

marten Augmented Analytics Case Study- Implementation for India-Based Restaurant Chain

The Client is among the top five Food and Beverage (F&B) companies in India with a chain of several leading restaurant brands, and is known for being a trailblazer in its field.

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Case Study : Smarten Analytics Case Study – Implementation for Largest Global Air Cooler Company in India

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April 25, 2023

Smarten Augmented Analytics Case Study- Implementation for Largest Global Air Cooler Company in India

The Client is the largest global manufacturer of Air Coolers. The Client is an India-based Multi-National Company with a presence in over sixty (60) countries. As the market leader, this enterprise enjoys a prime position in the residential, industrial and commercial market segments and its brand is considered synonymous with cooling products in the global market. The Client is a market disrupter in what is a diverse and poorly organized sector and it has set the market benchmark with 201 trademarks, 64 registered designs, 15 copyrights and 48 patents, thereby setting the gold standard for air cooling in the global market.

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How Can Citizen Data Scientists Help My Business Succeed?

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July 18, 2022

The Citizen Data Scientist Role and Benefits and How to Get Started!

Gartner has predicted that, ‘90% the world’s top 500 companies will have converged analytics governance into broader data and analytics governance initiatives.’ If you wish to compete, your business will want to follow the lead of these top companies. By incorporating analytics into day-to-day activities and allowing access for business users, the business can encourage the transition from business user to Citizen Data Scientist and create a comprehensive system of analytics with governance and collaboration to ensure security, appropriate access, mobile use and fact-based decision-making.

‘The path to Citizen Data Scientist does not have to be fraught with uncertainty.’

If you are a team member in a business environment, your role within that business is unique. But, it doesn’t matter what your role is or what your responsibilities are, it doesn’t matter what tasks or activities you must perform, you need good, solid data to make effective, fact-based decisions. And, your decisions must be swift because business is moving at the speed of light! Add to this the fact that your responsibilities seem to grow in scope and depth every day, and you can see how crucial it is to have the right support and solutions to help you achieve your goals.

If you are considering a transition to Citizen Data Scientist, or your business management team has informed you of their intent to make that transition, you probably have a lot of questions about the process and the role.

The What, Why and How of the Citizen Data Scientist Role

What is a Citizen Data Scientist?

Citizen Data Scientists are not business analysts or data scientists. They are business users and team members within the organization. The typical profile of an ideal Citizen Data Scientist is a person who is respected within the organization, and often shares data and information with other users to collaborate and produce outcomes that are designed to achieve goals and objectives and produce a successful outcome. These individuals may already be ‘power users’ of business applications and may have developed and reported or presented data to others with an eye toward clarifying their decision-making. Citizen Data Scientist candidates may also be IT team members who are interested in data science. In any case, these candidates will typically be uniquely curious, interested in data analytics and devoted to fact-based decisions and team collaboration. To fulfill the role of Citizen Data Scientists, business users will leverage augmented analytics solutions; that is analytics that provide simple recommendations and suggestions to help users easily choose visualization and predictive analytics techniques from within the analytical tool without the need for expert analytical skills.

Why is it important to implement a Citizen Data Scientist Program?

Business users can leverage domain and primary skills and expertise to gain insight into results using augmented analytics. Your team can interact with and collaborate with IT and data scientists to define business use cases and refine outcomes, and users are empowered to use analytical tools to hypothesize, prototype, forecast and predict, so the organization can identify issues, challenges and results prior to implementing changes in pricing, products, customer outreach, organizational structure, and all manner of operational decisions. The Citizen Data Scientist initiative will improve the accuracy of decisions, and allow users to share data and models with other users, thereby adding value to the organization. The enterprise can create and manage goals and objectives using measurable data and can improve time to market and make better decisions. The Citizen Data Scientist approach is crucial to sustained competitive advantage and to nurturing human resource assets, improving productivity and making the right decisions at the right time. Businesses and users can get ahead of the curve in the market and enable true collaboration.

‘The business can encourage the transition from business user to Citizen Data Scientist and create a comprehensive system of analytics.’

When a business makes the decision to implement a Citizen Data Scientist initiative, it must have a clear vision of the path to get business users to a new role, and to support those users with the augmented analytics tools and cultural changes required to encourage user adoption of analytics solutions and techniques. The path to Citizen Data Scientist does not have to be fraught with uncertainty. With the right cultural changes and management and technology support, the team can improve data literacy and encourage data democratization. Training is a key component of this success. But it needn’t be a lengthy, complex process.

An in-person or online training program that introduces the role and provides examples of Use Cases and Case Studies can help business users see how these tools might be used within the confines of their own role in the organization.

Explore the options her: One-Day In-Person Or Online Workshop For Citizen Data Scientists or Self-Paced eLearning Citizen Data Scientist sessions.

Find out more about the Citizen Data Scientist Path, Citizen Data Scientist Training and Augmented Analytics. We can help your business succeed and improve user adoption and data literacy.

Original Post : The What, Why and How of the Citizen Data Scientist Role!

Citizen Data Scientists Can Collaborate with Others!

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July 4, 2022

How Should My Citizen Data Scientists Work with Data Scientists and Analysts?

Gartner has predicted that, ‘30% of organizations will harness the collective intelligence of their analytics communities, outperforming competitors that rely solely on centralized analytics or self-service.’ What does this mean for business Citizen Data Scientist initiatives? It does NOT mean that the organization should turn away from this type of initiative. What it DOES mean is that a business should recognize the value and purpose of each aspect of its analytical community.

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Embedded BI Can Encourage Data Literacy!

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June 22, 2022

Technology research and consulting firm, Gartner, predicts that, ‘By 2023, data literacy will become an explicit and necessary driver of business value, demonstrated by its formal inclusion in over 80% of data and analytics strategies and change management programs.’

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