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Effectively investigate and evaluate company data with business analytics. For sound, data-based decisions.
Companies with data-driven structures are facing ever greater challenges, as data flow and data volumes are continually on the increase. To make a decision, companies must be able to use all data optimally, in order to gain relevant insights. Business analytics (BA) supports data-based businesses in this area. Business analytics is an iterative, systematic analytic method for company data. The focus is on statistical analyses The methodology of business analytics enables insights to be gained that affect business decisions. At the same time, business processes can be automated and optimised. With business analytics, data can be used optimally as a company resource and effective forward-looking decisions can be made, thus exploiting competitive advantages.
Data analysis Data Visualization
Businesses working with data bases know the time requirements of big data:
Mountains of data need to be dealt with.
Data sources must be homogenised
Relevant information must be filtered
Data must be structured.
Utilised data must be reliably evaluated.
It is also important to draw the right conclusions from the data obtained. For this, selected data must be systematically investigated, for example by analysis tools that provide spreadsheets with statistical functions. Or by using data mining to find patterns and relationships. Business Analytics provides these and other ways to examine data and to draw conclusions from it. Thus, valuable corporate data is used effectively for business goals.
from data to information to informed decisions
Generally speaking, with business analytics insights are gained and these findings are used to lay the foundations for decisions in the business process. Considered in detail, the use of business analytics is also an increased added value for all corporate processes:
Through its iterative and methodical building properties, business analytics provide continuous development of data analysis.
With the use of business analytics, processes within the data organisation can beautomated and optimised simultaneously.
With business analytics, companies are also able to recognise patterns and interrelationships through data mining.
Thanks to statistical and qualitative analyses, results from the past can be explained.
Based on the statistical analyses, forecasting models can be created through business analytics.
In order to achieve business goals, tactical decisions are necessary, as well as strategic planning. This should be based on real-time data to react appropriately to situations and to assess predictable developments from the moment of the decision. Business analytics not only guarantee the quality of the data but also support the the various aspects of business management.
Companies with business analytics benefit from this in the following ways:
With the possibility of identifying patterns and relationships, processes can be better structured and mistakes minimised.
Through explanations of specific results in the past, reliable strategies for the future can be derived.
To better secure upcoming management decisions, multivariate testing can simulate relevant scenarios.
In addition, forecasts of future results and developments can be realised based on the data - also in a targeted way in individual corporate areas.
Business analytics provides the company with reliable support for its business decisions. Consistent and analysed data can be used appropriately and in a targeted fashion within different tools. For companies, this is a big advantage in the markets that require ever-faster decisions and measures.
Often the concepts of business intelligence and business analytics are used synonymously. In fact, there are differences between their features and functionality. Here are some examples:
Business Intelligence includes:
Business Analytics includes:
Business Intelligence provides answers to the following questions: :
Business Analytics provides answers to the following questions:
To use the synergetic benefits of both solutions, embedding business analytics in a business intelligence solution is recommended.
Our Business Intelligence solution iVIEW
When companies cannot make relevant data-based decisions due to lack of analytical possibilities.
When within the large volumes of corporate data and data flows, tools to identify patterns and related data are lacking.
When the company wishes to introduce statistical data verification.
When the processing of large amounts of data within the business intelligence needs to be expanded with analytical, testing and forecasting functions.
Particularly for SMEs, when they need reliable sources of information for growing market requirements and data volumes.
We support discerning SME clients, using innovative business intelligence solutions, to find sound answers to business-related issues and so make the right decisions for safe and reliable company management.