Tag: Smarten Analytics

Auto Insights: The Secret Weapon for Analytical Results

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October 10, 2024

Auto Insights: Clear and Concise Analytics

Gartner predicts that ‘organizations that offer users access to a curated catalog of internal and external data will derive twice as much business value from analytics investments as those that do not.’ In order to make the most of the data that resides in all the corners of your enterprise, you must make sense of that data, and leverage it to create products and services, to compete in your market of choice and refine your workflow and tasks to improve productivity and agility.

The key to making the most of your data is analytics, and the ability to gather and analyze data and produce results that are intuitive and clear. Machine learning has evolved to support the average business user with tools and techniques that make it easier to gather and analyze data using simple techniques that are supported by analytical techniques, without requiring business users to have data science skills.

‘Auto Insights analytics allows business users to select the dataset to be analyzed, and let the system do the rest.’

Today’s business users expect to have access to software solutions and techniques that are easy to understand and navigate. As consumers, they have the world at their fingertips, with simple techniques that require little to no technical knowledge. If your enterprise plans to adopt augmented analytics tools and business intelligence techniques, it must provide simple tools that are easy enough for the average business users to incorporate into workflow and tasks. This approach will help the organization achieve its analytical goals while ensuring an appropriate return on investment (ROI) and decreasing Total Cost of Ownership (TCO). It can also encourage and enable Citizen Data Scientist initiatives and improve data literacy.

Business Users Can Leverage Auto Insights to Easily Analyze Data

The Auto Insights approach to analytics provides a foundation of Assisted Predictive Modeling and easy-to-use tools, making it simple enough for every business user to adopt as an important tool in the team toolkit, and supporting the path from business user to Citizen Data Scientist, with tools that encourage data literacy.

Auto Insights frees business users and reduces the time and skills required to produce accurate, clear results, quickly and dependably, using machine learning that frees the business user to collect and analyze data with the guided assistance of a ‘smart’ solution.

Auto Insights allows business users to select the dataset to be analyzed, and let the system do the rest. The tool will interpret the dataset, select important columns of data, analyze its type and variety and other parameters and then use intelligent machine learning to automatically apply the best algorithm and analytical technique and provide data insight so the user can easily see and understand the results.

The Auto Insights concept is applied to data repositories to enable the enterprise and its business users to perform complex data analytics and share analysis across the organization in a self-serve, mobile environment, bringing the power of sophisticated, advanced analytics and smart data visualization to the members to automate and analyze, so enterprise users can quickly get the answers they need and move on to make confident decisions.

‘The key to making the most of your data is analytics, and the ability to gather, analyze and view data easily, and produce results that are intuitive and clear.’

If you are interested in finding out more about the advantages of the Smarten Auto Insights approach to Augmented Analytics and self-serve search analytics, Contact Us to explore how these techniques can help your enterprise apply analytics to achieve results. Let us help you realize your business goals and objectives with fact-based information.

Original Post : Auto Insights: The Secret Weapon for Analytical Results

Understanding How Businesses Use Mobile BI to Achieve Results!

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October 2, 2024

Mobile BI Business Use Illustrates Real Advantages!

Mobile Business Intelligence (or Mobile BI) is defined as ‘a system comprising both technical and organizational elements that present historical and/or real-time information to its users for analysis on mobile devices such as smartphones and tablets (not laptops), to enable effective decision-making and management support, for the overall purpose of increasing firm performance.’

Aberdeen Group reports that businesses adopt Mobile BI to:

  • Improve business process efficiency
  • Improve employee productivity
  • Make better decisions, more quickly
  • Provide better customer service
  • Deliver real-time bi-directional data access to make decisions anytime and anywhere.

‘Mobile BI benefits go well beyond simple reporting and the sharing of data across user groups, to address real business issues and to keep users up to date and allow them to respond to real world, real-time issues.’

As local and global competition increases, most businesses are looking for ways to improve their competitive advantage, and to quickly adapt to the changing market, to employee needs and to customer buying behavior.

It can be helpful to consider some real-world business use cases, in order to understand the value and benefit of incorporating a Mobile BI solution within your technology landscape and your analytics approach.

The advantages of Mobile BI go beyond team collaboration and individual reporting needs, to provide the background and foundational information needed to make decisions on business strategy and to understand customer preferences.

Real World Business Use of Mobile BI Reveals Benefits and Advantages

The following list of companies represents a small sampling of businesses currently using Mobile BI to improve business results and efficiency:

Amazon – Amazon analyzes purchasing behavior and browsing history to predict what products a customer might want to see, and what they are likely to buy, personalizing the customer experience and making it easier for customers to complete a transaction. BI tools help the business to forecast demand and ensure that stock is available.

Starbucks – The business has implemented a loyalty program to help with customer engagement and sales, personalizing marketing strategies and allowing customers to order, pay and receive rewards. It gathers data using its digital channels and uses that data to create targeted offers and to improve customer retention, as well as increasing the amount customers spend during a visit.

Netflix – The company uses BI tools to personalize the viewing experience and to analyze customer viewing preferences and push specific options to the customer based on viewing history. Mobile BI tools allow teams to analyze and share information regarding regional viewing and to make decisions on the fly.

Uber – The company business model is dependent on the rapid changes and shifting behavior of customers from one local and regional area to the next. Real-time pricing and operational decisions are made to support surge pricing and driver deployment for high demand areas. The back-end systems and BI tools allow drivers to access information using the Uber app so that they can quickly respond to the changing environment.

Tesla – Mobile BI and wireless car data analytics allow Tesla to connect remotely to corporate offices and collect and analyze vehicle data to address issues and update customers on maintenance etc.

X/Twitter – Mobile BI provides support or moderators to identify and quickly address platform safety issues, violations, etc. The integration of artificial intelligence (AI) with BI tools allows the business to quickly respond and ensure a safe user experience.

Mobile BI provides the background and foundational information needed to make decisions on business strategy and to understand customer preferences.

These examples illustrate the many ways in which Mobile BI can be used to address business issues, providing user access and analytics for team members no matter where they are and how they need to use the data. Mobile BI benefits go well beyond simple reporting and the sharing of data across user groups, to address real business issues and to keep users up to date and allow them to respond to real world, real-time issues.

If you want to support your business user team and provide a foundation for BI tools that will better serve your team and your customers, explore Smarten Mobile BI benefits and features,  with powerful functionality and access for your business users including out-of-the-box Mobile BI and advanced analytics for every team member. For more information on Mobile BI and Augmented Analytics, read our article, ‘Understanding The Truth About Mobile BI.’

Original Post : Understanding How Businesses Use Mobile BI to Achieve Results!

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!

Case Study : Augmented Analytics for India Construction and Infrastructure Development Company!

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July 31, 2024

Augmented Analytics for India Construction and Infrastructure Development Company

The Client is an India-based construction and infrastructure development company, committed to delivering quality infrastructure for private, public, and government projects. With over fifty (50) years of accumulated knowledge and experience, the organization applies its extensive resources to ensure superior infrastructure solutions.

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Case Study : Augmented Analytics Solution for India State Government Citizen Centric Schemes

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July 18, 2024

Augmented Analytics Solution for India State Government Citizen Centric Schemes

The Client is a state government with a population of approximately 30 million citizens, and an annual budget of $5 billion USD. This government agency focuses on implementing IT and e-governance initiatives to enhance citizen services and governance efficiency. By leveraging advanced technology, the agency aims to improve the quality of life for citizens and to streamline administrative processes across and throughout departments.

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Choose the Right Mobile BI Solution for Your Business!

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July 2, 2024

What Do I Need to Know Before I Choose a Mobile Business Intelligence (BI) Solution for My Business?

What makes a great Mobile Business Intelligence (BI) solution? There are many factors to consider and, if you do not choose wisely, you risk a) spending a lot of money and getting very little in return, b) working with incorrect, old or incomplete data, c) having to upgrade and spend even more money, d) disappointing your team and falling short of objectives, e) missing your Citizen Data Scientist initiative goals.

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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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Augmented Analytics Must Provide Data Quality and Insight!

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April 25, 2024

How Can I Ensure Data Quality and Gain Data Insight Using Augmented Analytics?

There are many business issues surrounding the use of data to make decisions. One such issue is the inability of an organization to gather and analyze data. These enterprises will typically focus on building a team of data scientists or business analysts to help with this task OR they might take on an augmented analytics initiative to provide access to data and analytics for their business users. This is where businesses will often face a second issue; namely that the analytics solution they choose is not designed to easily and quickly provide insight into data and to ensure data quality.

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AI In Analytics: Today and Tomorrow!

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April 19, 2024

Nothing…and I DO mean NOTHING…is more prominent in technology buzz today than Artificial Intelligence (AI). The use of Generative AI, LLM and products such as ChatGPT capabilities has been applied to all kinds of industries, from publishing and research to targeted marketing and healthcare. Gartner recently estimated that the market for AI software will be nearly $134.8 billion, with the market growing by 31.1% in next several years. In a recent survey of C-suite executives, 80% of said they believe AI will transform their organizations, and 64% said it is the most transformational technology in a generation.

(more…) "AI In Analytics: Today and Tomorrow!"