Understanding and Addressing Data Anomalies in Business!

How Can My Business Understand and Handle Those Pesky Data Anomalies?

Why guess at the cause of your business results? Whether you are seeing positive or negative results, it is still important to understand the ‘why.’ Without this information, you cannot adapt and adjust to improve declining results, OR repeat and improve those great results you are experiencing.

When you analyze results for the purpose of understanding and clarifying what is happening to product sales, to regional results, to financial investments, or other business factors, you may see trends and patterns that help you decide on a strategy to face a challenge or to capitalize on an opportunity. But how to you handle those perplexing anomaly results?

An anomaly is a pattern or result that does not conform to expected normal behavior. Let’s say your business spends an average of $5,000 per month, but in December of last year, it spent $10,000. That would be an anomaly! If a particular medication resulted in improvement in 80% of the 20,000 patients to whom the drug was administered, but 1% of the patients experienced a decline in health, that would be an anomaly.

With anomaly monitoring and alerts, users will have clear insight into the root cause of a problem or anomaly, and understand the key influencing factors. Your business can monitor and manage volatility and understand the relationships and impact of the various influencers on the targets, products, sales, customers, etc.

A recent survey of markets and businesses revealed that anomaly detection is an important component of many industries:

  • Healthcare
  • Credit card fraud
  • Manufacturing quality control
  • Network performance
  • Energy grids
  • Cybersecurity
  • eCommerce

These are just a few of the industries, markets and functions that can benefit from anomaly monitoring.

What is a Data Anomaly and How Does it Affect My Business?

When it comes to analytics, anomaly monitoring and analysis can help your business to identify outliers in results and determine whether these are important warnings of future issues, or simply occasional blips in results.

When your augmented analytics solution is designed to be a self-serve, business user application, you can support the transition of team members to Citizen Data Scientists with interactive tools to gather information, establish metrics and key performance indicators (KPIs) and identify volatility of results and anomalies in the results. Your team will receive auto-suggestions that will define the root cause of the problem and target opportunities.

Users will have clear insight into the root cause of a problem or anomaly, and understand the key influencing factors. Your business can monitor and manage volatility and understand the relationships and impact of the various influencers on the targets, products, sales, customers, etc.

Here are some of the business benefits of selecting an augmented analytics solution with anomaly monitoring and alerts:

  • Establish and monitor KPIs and adapt quickly with a personalized approach
  • Clearly identify relationships and impact of influencers on targets
  • Let the system do the work with auto-recommendations, guidance and alerts on changing impact of influencers on targets, related anomalies and volatility
  • Receive and monitor results via email and in-portal notifications
  • Business Users and Citizen Data Scientists can compile data, analyze, monitor and manage results with all the confidence of a Data Scientist
  • Identify opportunities for improvement to optimize results

An anomaly is a pattern or result that does not conform to expected normal behavior. How to you handle those perplexing anomaly results?

Smarten SnapShot Anomaly Monitoring And Alerts will support your team with tools that are intuitive and easy to use and will encourage user adoption.  Leverage the essential components of Augmented Analytics and improve decision-making and outcomes.

Original Post : What is a Data Anomaly and How Does it Affect My Business?

Embedded BI Ensures User Adoption!

Why Should My Business Adopt Embedded BI and Analytics?

There are many reasons to consider adding embedded BI to your enterprise technology landscape. When you are making a critical business decision, one of the factors you probably include is how your competitors and other businesses are addressing the problems you are trying to solve. When making a decision about Embedded BI consider these survey results. Businesses that are currently using embedded BI within their enterprise, report the following:

Case Study : Smarten Augmented Analytics Provides Comprehensive Solution for India’s Largest Jewelry Brand

Smarten Augmented Analytics Provides Comprehensive Solution for India’s Largest Jewelry Brand

The Client is India’s largest omni-channel jewelry brand, and is recognized and renowned by India consumers. The Client has 165 retail stores in 66+ cities across India, as well as a thriving jewelry eCommerce presence online. Its product line includes rings, earrings, pendants, necklaces, chains, bangles, bracelets, mangalsutra, and nose pins, as well as 22k (916) and 24k (995) gold coins with certification and BIS Hallmark stamp guarantee. The Client customer base is growing rapidly, and to attract and retain customers, the business provides new designs and uses a mobile application to bridge the gap between brick-and-mortar stores and the virtual world. The mobile app provides a Virtual Try-On feature that allows customers to ‘try on’ jewelry and designs using a virtual reflection and image.

Should I Start a Citizen Data Scientist Program?

Is it the Right Time for My Business to Initiate a Citizen Data Scientist Program?

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.

Case Study : Smarten Augmented Analytics Case Study- Pharmaceutical, Clinical Research and Innovation Company

Smarten Augmented Analytics Case Study- Pharmaceutical, Clinical Research and Innovation Company

The Client is a global business governed by a foundation whose mission is to have a meaningful social impact, both for patients and for a sustainable world. With its unique governance model, the Client business can fully serve its vocation with a long-term vision and fulfil its commitment to therapeutic progress and to serving patient needs. The company has grown exponentially, first across France and then throughout the world, driven by the transformation of the business.

Use a BI Tool with Cross-Tab Deep Dive Features!

Why It’s Important to Include Cross-Tab Deep Dive in Self-Serve BI Tools!

When a business decides to implement a self-serve business intelligence (BI solution, it must ensure that the tools really are ‘self-serve’ and that they provide the flexibility and agility to give power users the ability to create and analyze, and business users with average technology skills the ability to quickly and easily understand the augmented analytics tools they now have access to, and to use those tools to the benefits of the team and the organization.

Citizen Data Scientists Can Collaborate with Others!

How Should My Citizen Data Scientists Work with Data Scientists and Analysts?

Gartner has predicted that, ‘30% of organizations will harness the collective intelligence of their analytics communities, outperforming competitors that rely solely on centralized analytics or self-service.’ What does this mean for business Citizen Data Scientist initiatives? It does NOT mean that the organization should turn away from this type of initiative. What it DOES mean is that a business should recognize the value and purpose of each aspect of its analytical community.

Citizen Data Scientists Can Help You Achieve Your Goals!

Think of What Citizen Data Scientists Can Do to Help Your Business!

Whether you have recently been nominated to become a Citizen Data Scientist or you are considering the value of this type of transition for your business, managers and team members alike often ask exactly what a Citizen Data Scientist can do. According to technology research firm, Gartner, the number of Citizen Data Scientists will grow at five times the rate of traditional data scientists. If that’s the case, there must be something to this trend, right?

3 Things Citizen Data Scientists Need in Predictive Analytics!

The technology research firm, Gartner has predicted that, ‘predictive and prescriptive analytics will attract 40% of net new enterprise investment in the overall business intelligence and analytics market.’ When combined with Citizen Data Scientist initiatives, the adoption and use of predictive modeling and forecasting techniques can be a boon to any enterprise. Team members who have access to augmented analytics and assisted predictive modeling can plan better, predict more accurately and dependably meet goals and objectives.