Analytics process can be used to accomplish many things. Yet, in it's most valuable form, process should be viewed as a means to familiarize business users with data that is potentially available to them and to create efficiency around how that data is collected, analyzed, and provided back to the business.
Most organizations have organic processes that grew out of necessity, but in STRATALYCS Technologies experience few have developed formal process for taking in analytics requests, for data quality management, or for new tagging requests. While each of these activities usually happens at organizations today, they are largely handled through ad hoc processes that fail to provide consistency or efficient delivery. As such, Analytics Demystified recommends that companies implement a process framework that will address each of these critical components.
Note that the introduction of a new process into a business environment requires a change in habits and routines. While our process recommendations seek to minimize disruption to everyday operations, some new ways of collaborating will be required. Analytics Demystified's recommended processes are designed to be minimally invasive, but we recognize that change management may be required to introduce new process to the business and to illustrate the business benefits of using process to expedite analytics.
Effective Business Analysis brings about a better understanding of your organisation's business processes used in the delivery of its services and products.
Real-time analysis is an emerging business tool that is changing the traditional ways enterprises do business. More and more organisations are today exploiting business analytics to enable proactive decision making; in other words, they are switching from reacting to situations to anticipating them.
One of the reasons for the flourishing of business analytics as a tool is that it can be applied in any industry where data is captured and accessible. This data can be used for a variety of reasons, ranging from improving customer service as well improving the organisation's capability to predict fraud to offering valuable insights on online and digital information.
However business analytics is applied, the key outcome is the same: The solving of business problems using the relevant data and turning it into insights, providing the enterprise with the knowledge it needs to proactively make decisions. In this way the enterprise will gain a competitive advantage in the marketplace.