Data as Experience: The Power User Role

Michael porter | December 18, 2018

article image
These types of users really want the ability to dive into the data and understand what happened and why. To that end, they want the traditional self-service capabilities that include a self-service portal and the ability to download reports. But if you truly understand their needs, then you will also provide predictive analytics capabilities to this person. Not that they will create their own regression analysis but they can ask questions that setup regression analysis. To that end, you should add artificial intelligence combined with predictive analytics to the more traditional needs of these users.

Spotlight

Base 3 Systems

Founded in 1996, Base 3 has almost 20 years of experience in the data analytics market in Belgium. Our consultants have a passion for data. They collaborate with our customers to improve their data-driven decisions. They produce business value through the use of business intelligence, advanced analytics or big data techniques. Our customers are our biggest source of inspiration. Their data-related questions and assignments are the challenges that excite our consultants. We provide the right consultant based upon the task at hand and the working environment.

OTHER ARTICLES

CAN QUANTUM COMPUTING BE THE NEW BUZZWORD

Article | March 30, 2020

Quantum Mechanics created their chapter in the history of the early 20th Century. With its regular binary computing twin going out of style, quantum mechanics led quantum computing to be the new belle of the ball! While the memory used in a classical computer encodes binary ‘bits’ – one and zero, quantum computers use qubits (quantum bits). And Qubit is not confined to a two-state solution, but can also exist in superposition i.e., qubits can be employed at 0, 1 and both 1 and 0 at the same time.

Read More

Data Analytics: Five use cases in telecom industry

Article | May 27, 2021

The telecom industry has witnessed spectacular growth since its establishment in the 1830s. Enabling distant communications, collaborations, and transactions globally, telecommunication plays a significant role in making our lives more convenient and easier. With enhanced flexibility and advanced communication methods, the telecom industry gains more customers and creates new revenue streams. According to Grand View Research, the global telecom market size would expand at a compound annual growth rate (CAGR) of 5.4% between 2021-2028. With the rapidly growing digital connectivity, the communication service providers (CSPs) have to deal with large datasets. Datasets that can allow them better to understand their customers, competitors, industry trends and derive valuable insights for decision making.

Read More

COMBATING COVID-19 WITH THE HELP OF AI, ANALYTICS AND AUTOMATION

Article | April 9, 2020

Across the world, governments and health authorities are now exploring distinct ways to contain the spread of Covid-19 as the virus has already dispersed across 196 countries in a short time. According to a professor of epidemiology and biostatistics at George Washington University and SAS analytics manager for infectious diseases epidemiology and biostatistics, data, analytics, AI and other technology can play a significant role in helping identify, understand and assist in predicting disease spread and progression.In its response to the virus, China, where the first case of coronavirus reported in late December 2019, started utilizing its sturdy tech sector. The country has specifically deployed AI, data science, and automation technology to track, monitor and defeat the pandemic. Also, tech players in China, such as Alibaba, Baidu, Huawei, among others expedited their company’s healthcare initiatives in their contribution to combat Covid-19.

Read More

How Business Analytics Accelerates Your Business Growth

Article | April 30, 2020

In the present complex and volatile market with data as a nucleus, analytics becomes a core function for any enterprise that relies on data-driven insights to understand their customers, trends, and business environments. In the age of digitization and automation, it is only sensible to make a move to analytics for a data-driven approach for your business. While a host of sources including Digital clicks, social media, POS terminal, and sensors enrich the data quality, data can be collected along various stages of interactions, and initiatives were taken. Customers leave their unique data fingerprint when interacting with the enterprise, which when put through analytics provides actionable insights to make important business decisions. Table of Contents: Business Analytics or Business Intelligence: The Difference Growth Acceleration with Business Analytics Business Analytics or Business Intelligence (BI): The Difference Business Intelligence comes within the descriptive phase of analytics. BI is where most enterprises start using an analytics program. BI uses software and services to turn data into actionable intelligence that helps an enterprise to make informed and strategic decisions. It’s information about the data itself. It’s not trying to do anything beyond telling a story about what the data is saying. - Beverly Wright, Executive Director, Business Analytics Center, Georgia Tech’s Scheller College of Business Some businesses might use BI and BA interchangeably, though some believe BI to be the know-how of what has happened, while the analytics or advanced analytics work to anticipate the various future scenarios. BI uses more structured data from traditional enterprise platforms, such as enterprise resource planning (ERP) or financial software systems, and it delivers views into past financial transactions or other past actions in areas such as operations and the supply chain. Today, experts say BI’s value to organizations is derived from its ability to provide visibility into such areas and business tasks, including contractual reconciliation. Someone will look at reports from, for example, last year’s sales — that’s BI — but they’ll also get predictions about next year’s sales — that’s business analytics — and then add to that a what-if capability: What would happen if we did X instead of Y. - CindiHowson, research vice president at Gartner A subset of business intelligence (BI), business analytics is implemented to determine which datasets are useful and how they can be leveraged to solve problems and increase efficiency, productivity, and revenue. It is the process of collating, sorting, processing, and studying business data, and using statistical models and iterative methodologies to transform data into business insights. BA is more prescriptive and uses methods that can analyze data, recognize patterns, and develops models that clarify past events, make future predictions, and recommend future discourse. Analysts use sophisticated data, quantitative analysis, and mathematical models to provide a solution for data-driven issues. To expand their understanding of complex data sets, and artificial intelligence, deep learning, and neural networks to micro-segment available data and identify patterns they can utilize statistics, information systems, computer science, and operations research. Let’s discuss the 5 ways business analytics can help you accelerate your business growth. READ MORE: HOW TO OVERCOME CHALLENGES IN ADOPTING DATA ANALYTICS Growth Acceleration with Business Analytics 1. Expansion planning Let’s say you’re planning an expansion opening a branch, store, restaurant, or office in a new location and have accumulated a lot of information about your growing customer base, equipment or other asset maintenance, employee payment, and delivery or distribution schedule. What if we told it is possible to get into a much detailed planning process with all that information available? It becomes possible with business analytics. With BA you can find insights in visualizations and dashboards and then research them further with business intelligence and reports. Moreover, you can interact with the results and use the information to create your expansion plan. 2. Finding your audience You’re right to examine your current customer data but you should also be looking into the customer sentiments towards your brand and who is saying what, and in what parts of the region. Business Analytics offers social media analysis so you can bring together internal and external customer data to create a profile of your customers, both existing and potential. Thus, you have prepared an ideal demographic, which can be used to identify people that are most likely to turn to your products or services. As a result, you have successfully deduced the area that offers the most in terms of expansion and customer potential. 3. Creating your business plan The real-time interaction with your data provides a detailed map of the current progress as well as your performance. Business Analytics solutions offer performance indicators to find and forecast trends in sales, turnover, and growth. This can be used in the in-depth development of a business plan for the next phase of your thriving franchise. 4. Developing your marketing campaign With Business Analytics, you’re capable of sending the right message to the audience most eager to try your product/service as part of a marketing campaign. You’re empowered to narrow down branding details, messaging tone and customer preferences, like the right offers that will differentiate you from the other businesses in the area. Using BA, you have gained a competitive edge by making sure you offer something new to your customers and prospects. It enables you to use your data to derive customer insights, make insight-driven decisions, do targeted marketing, and make business development decisions with confidence. 5. Use predictive insights to take action With analytics tools like predictive analytics, your expansion plans are optimized. It enables you to pinpoint and research about the factors that are influencing your outcomes so that you can be assured of being on the right track. When you can identify and understand your challenges quickly and resolve them faster, you improve the overall business performance resulting in successful expansion and accelerated growth. READ MORE: WHAT IS THE DIFFERENCE BETWEEN BUSINESS INTELLIGENCE, DATA WAREHOUSING AND DATA ANALYTICS

Read More

Spotlight

Base 3 Systems

Founded in 1996, Base 3 has almost 20 years of experience in the data analytics market in Belgium. Our consultants have a passion for data. They collaborate with our customers to improve their data-driven decisions. They produce business value through the use of business intelligence, advanced analytics or big data techniques. Our customers are our biggest source of inspiration. Their data-related questions and assignments are the challenges that excite our consultants. We provide the right consultant based upon the task at hand and the working environment.

Events