Whether you are a business owner, a business executive or a business manager, or you just like to keep up with industry trends, you no doubt have read about the transition of business users to Citizen Data Scientists. The topic has been in industry journals and publications for years, and it is still relevant today.
Technology research and consulting firm, Gartner, predicts that, ‘By 2023, data literacy will become an explicit and necessary driver of business value, demonstrated by its formal inclusion in over 80% of data and analytics strategies and change management programs.’
Predictive analytics may seem too complex for business users but with advanced technology like machine learning and features like assisted predictive modeling users can dive into the process without the skills of an IT professional or a data scientist. Assisted predictive modeling frees the user by providing system recommendations that will suggest the right analytical technique and achieve the best fit for what the user wants to do, ensuring that they use the most appropriate algorithm for the data they wish to analyze.
Don’t you hate it when someone blurts out a mysterious term at a business conference and you are left to decide whether to reveal your ignorance by asking what they are talking about, or simply nodding your head and smiling as if you understand and agree? I hate it when that happens.
Perspective is everything. You can stare at numbers and columns all day and never see the one nugget of information that will give you insight and help you solve a problem or find that one opportunity to drive the business to the next level. When you and your business users can leverage augmented analytics tools, without worrying about complex algorithms or writing code or designing reports, you can find those elusive nuggets of information and use them to improve your business results.
Every business owner and manager understands the problem of limited resources. Today, you have fewer team members and you must do more to compete in the market. To enhance productivity and collaboration and ensure that every team member is making better decisions, it is wise to implement augmented analytics within your organization.
Business Intelligence is mandatory! Without intelligence you have no insight into your customer buying behavior, your competition or your organization. In order to achieve business intelligence in today’s environment, you need modern BI tools and augmented analytics that is suitable for your business users.
Today, business planning is harder than ever. No one knows what is coming next and considering the changes in customer needs and expectations is just one of the issues. How about competition? What about new technology and how it will affect your products and services? What about the need for skills and new training for your team members and candidates? How about access to capital and investors?
One of the most valuable aspects of self-serve business intelligence is the opportunity it provides for data and analytical sharing among business users within the organization. When business users adopt true self-serve BI tools like Plug n’ Play Predictive Analysis, Smart Data Visualization, and Self-Serve Data Preparation, they can apply the domain knowledge and skill they have developed in their role to create reports, analyze data and make recommendations and decisions with confidence.
Why would anyone want or need to use predictive analytics? What good is forecasting anyway? Doesn’t it always end up being wrong? Well, no! That’s why wise businesses use these techniques to plan and forecast and to understand how a change they are considering might impact their business success. Nearly every organization today is using analytics to improve productivity, competitive positioning, market presence, financial investment strategies, price point planning, risk mitigation and many other business factors.
