Components of predictive analytics

Components of predictive analytics

When it comes to the success of your business, you likely rely, at least in part, on predictions made off of existing data. While simple forecasts are easy enough, it can be more difficult to set down long-term theories about what the future may or may not entail.

Do you need a data warehouse?

Do you need a data warehouse?

Data is an integral component to any business. Without it we would not be able to make decisions, develop marketing campaigns, or even operate. The issue many businesses face however is that the amount of data they generate and capture is increasing exponentially and it can be a challenge to collect and leverage it.

Better data collection

Better data collection

As businesses continue to become increasingly networked, there is an exponentially increasing amount of data being made available to them. While this data can be really useful, a lot of it can also be less so, or even useless. However, you are going to continue to collect data, and in order not to be overwhelmed with the sheer volume you should have a well defined data collection system in place.

Utilizing business intelligence value

Utilizing business intelligence value

Business intelligence (BI) plays a vital role in most businesses. It helps identify and monitor business trends and facilitate decision making, as well as improve your strategic management processes. Isn’t it time you made use of your company’s resources and accessed valuable corporate data to improve your BI for the good of your company success?

5 ways to improve business intelligence value

1. Pump customer data into your analysis
Most companies are chasing after a 360 degree view of their customers, and while this seems like an elusive goal, it can be achieved.

A quick look at predictive analytics

A quick look at predictive analytics

In business, it would be great if we could tell what the future holds. And although we can’t predict 100% for sure what will happen, businesses do have a set of tools at their disposal that can help foretell more than a wild guess. The most popular forecasting tool is predictive analytics.

Common BI misconceptions

Common BI misconceptions

Business Intelligence (BI) is quickly becoming one of the most integral functions for many small businesses. Owners and managers are increasingly finding that by implementing BI functions they can make better and more informed business decisions. While BI is popular, there are however many misconceptions that could actually inhibit the effectiveness of your efforts.

How businesses can benefit from BI

How businesses can benefit from BI

Several companies nowadays rely on Business Intelligence or BI tools to analyze information generated by their business. These tools are either installed on computers or cloud-based and accessible on the Web. These applications allow users to ensure that everyone is on the same path with regards to achieving their business goals.

Three data terms explained

Three data terms explained

If there is one thing all businesses rely on it’s data. As the integration of new systems and features continues, the amount of data available to a businesses grows. In order to be able to get more out of this data, businesses have started looking at adopting Business Intelligence (BI) systems.

5 BI trends for 2014

BI_Jan02_BBusiness Intelligence – the collection and transformation of data into useful information that can be used to make better decisions – is one of the more important business processes, and saw continued popularity in 2013. Because of this increased use, there are a number of trends that we believe will be become favorable in 2014.

Here is an overview of the potential Business Intelligence (BI) trends we could see emerging and growing in 2014.

1. BI is more accessible

Historically, to get the most out of Business Intelligence you need to be experienced or to employ a data scientist.