Today, business planning is harder than ever. No one knows what is coming next and considering the changes in customer needs and expectations is just one of the issues. How about competition? What about new technology and how it will affect your products and services? What about the need for skills and new training for your team members and candidates? How about access to capital and investors?
Preparing data for analysis used to be a long, difficult process performed by IT or data scientists. Needless to say, that process meant that business users could not get the job done. They were forced to make a request, wait for the process to be completed and then, more than likely, for the same team to actually perform the analysis. If the data prep was not accurate or was incomplete, the process starts all over OR produces poor results and, in many cases, those poor results are not obvious to the business user. What does that mean? It means that the business is using information and results that they do not know are wrong!
If you are an accounting or finance professional, chances are good you know Tally Solutions and TallyERP. This software application was designed to support your teams and to provide an environment for data entry and reporting and, as such, it is quite popular. This foundational structure allows users to access and work with data for day-to-day tasks and to support the business operation.
One of the most valuable aspects of self-serve business intelligence is the opportunity it provides for data and analytical sharing among business users within the organization. When business users adopt true self-serve BI tools like Plug n’ Play Predictive Analysis, Smart Data Visualization, and Self-Serve Data Preparation, they can apply the domain knowledge and skill they have developed in their role to create reports, analyze data and make recommendations and decisions with confidence.
Why would anyone want or need to use predictive analytics? What good is forecasting anyway? Doesn’t it always end up being wrong? Well, no! That’s why wise businesses use these techniques to plan and forecast and to understand how a change they are considering might impact their business success. Nearly every organization today is using analytics to improve productivity, competitive positioning, market presence, financial investment strategies, price point planning, risk mitigation and many other business factors.
If you want your business users to have access to analytics tools that are easy enough for the average user to understand, you will want to select augmented analytics that are easy to use with guidance and recommendations to help the user achieve the results they want AND help the user understand those results once they finish the analysis.
