BI and Analytics Services
BI and Analytics Services : It may seem that analytics and big data are hot topics among today’s technology and business professionals, but many people wonder if the buzz around analytics truly translates to business value.
And in fact, there is evidence that shows it does. Publications like Harvard Business Review (HBR) and Forbes regularly feature successful businesses, exploring the data and analytics journey that led them to success. Examples include notable companies that have reaped the benefits of analytics on different areas of their business.
HBR notes that Vineyard Vines, the clothing retailer, used an analytics-driven decision engine that enabled them to offer the right campaign to the right customer at the right time, which helped to grow sales. CIO magazine highlights that Dr. Pepper Snapple Group gave their sales team a software program that allowed them to access data and analytics services around their own performance against projections, which resulted in more salespeople hitting their targets. Forbes highlighted that Marriott Hotels use social media analytics to recruit employees for their large-scale hotel operations. Companies big and small have access to data and analytics if they truly want it.
However, each business has a different entry point to analytics, and the data strategy these companies implemented may not be the right one for your business. Business intelligence (BI) and analytics technology change quite often, with new tools being built and software updates being released, and businesses need to determine the right configuration that suits them– whether setting up their technology systems in such a way that it allows them to migrate data easily from one system to another, or integrate a new technology component into their existing set up, or even subscribe to a ready built analytics platform in order to get started right away. These decisions are typically included when developing a data strategy.
The breadth and depth of BI and analytics application is contingent upon the type of business and how much it relies on technology for business operations. If you don’t know how to apply analytics to your business, you may require technology consulting. Professionals who specialize in analytics services can guide your company in identifying how analytics can be applied and what purpose it can serve your business.