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Tag: Augmented Analytics
Select Augmented Analytics with Anomaly Monitoring and Alerts
Anomaly detection in data analytics is defined as the identification of rare items, events or observations which deviate significantly from the majority of the data and do not conform to a well-defined notion of normal behavior. Understanding anomalies in data can help a business by revealing trends, mapping targets and adapting to change with fact-based information that will help the enterprise and prescribe strategies to encourage agility and flexibility in the market and among competitors.
‘Using anomaly alerts and monitoring tools, business team members can quickly establish key performance indicators (KPIs) and personalized alerts and reports to monitor and measure results with powerful, clear, concise results that help users to understand and manage the variables that impact their targets and their results.’
A data anomaly is revealed when there is a dataset deviation or irregularity – something that is out of the bounds of expected patterns and behaviors. It is hard to overstate the criticality of anomaly detection. Without a comprehensive understanding of data, businesses can make risky decisions, misunderstand data integrity and depend heavily on information that is misleading, flawed or riddled with errors.
To accurately monitor and manage anomalies, the business must select an augmented analytics tool with comprehensive data visualization, data quality and anomaly monitoring tools, and the capacity to share and collaborate on information obtained through these tools.
Select interactive tools that allow a business user to gather information, establish metrics and key performance indicators (KPIs), identify crucial volatility and anomalies, and receive auto-suggestions and information to clearly identify the root cause of problems and target opportunities. These tools should include KPI monitoring, Auto Insights and Key Influencers.
These tools allow business users with average technical skills to:
- Identify a dataset
- Define a KPI target
- Define Influencers Using System Recommendations
- Define Polarity and Frequency
- Receive Alerts Via Email and In-Portal Notifications
- Find the Root Cause of Issues to Solve Problems
- Identify Opportunities to Improve Performance
- Detect Anomalies, Increases, Decreases, Volatility and Trends
- Discover Which Factors Caused Anomalies by Analyzing Key Influencers
Using these simple tools business team members can quickly establish key performance indicators (KPIs) and personalized alerts and reports to monitor and measure results with powerful, clear, concise results that help users to understand and manage the variables that impact their targets and their results.
‘It has been said that lack of data clarity can be ‘death by a thousand cuts.’ Without a clear picture of anomalies, outliers, and other factors that affect the quality and dependability of data, the enterprise cannot make an educated decision.’
To find out more about Anomaly Alerts And Monitoring, Contact Us. If your organization is looking for Augmented Analytics that leverages advanced techniques to keep pace with changing enterprise needs and support business agility, let us help you realize your business goals and objectives with fact-based information, and flexible, scalable technology solutions that will support Citizen Data Scientist initiatives, and improved data literacy and data democratization.
Look for Analytics with Low-Code/No-Code Technology!
The advent of low-code, no-code app and software development has enabled rapid, innovative changes to all types of development projects and that new environment is evident in Modern Business Intelligence (BI) and Augmented Analytics products and solutions.
The Client is a prominent Indian construction and infrastructure company providing services in numerous sectors, including highway, rail, mining, energy, irrigation, and water supply. Known for their expertise in managing large-scale and complex projects, the Client has played a significant role in enhancing the India infrastructure and has achieved robust growth and financial stability. The Client is currently managing sixty two (62) projects and employs more than 5000 employees in numerous market sectors across India.
Making the Case for Citizen Data Scientists!
When a business decides to undertake a data democratization initiative, improve data literacy and create a role for Citizen Data Scientists, the management team often assumes that business users will be eager to participate, and that assumption can cause these initiatives to fail.
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Integrate Tally with Mobile Analytics
Many small and start-up businesses have been using Tally Prime, Tally ERP and other Tally products for a long time. Their business users are familiar with the software and use it daily to manage all manner of financial issues, track, monitor, update and share information.
Today, business users are more mobile than ever before. Some work from home, some are on the road meeting with clients, customers and suppliers, and may be preparing for meetings or completing tasks in a hotel, airport or home office. In an environment where businesses are looking for a competitive edge, and trying to make the most out of precious resources, the use of mobile tools is more important than ever.
Every enterprise needs data and analytics to help team members make confident, fact-based decisions, but it can be difficult to get users to adopt these tools, especially if they see it as just one more thing they have to do, one more thing they have to learn! By integrating analytics with Tally solutions, and providing this integrated functionality in a mobile environment, the enterprise can encourage user adoption, and illustrate the value of analytics to its user base.
‘If you wish to integrate analytics with your Tally solution, choose a reputable, proven solution with a full suite of capabilities..’
Science Direct studied financial analytics and the use of tools to monitor, manage and find information. ‘Machine learning models do not make such assumptions. They are therefore more flexible and iterative. They are also able to model non-linear data.’
When you integrate mobile machine learning augmented analytics with Tally solutions, you can refine your understanding of issues and opportunities and make better decisions. There are numerous benefits to integrating analytics with the Tally environment, including:
- Access to the familiar Tally environment using a native iOS or Android mobile app
- Tally mobile analytics extends the office environment so users can perform crucial tasks from anywhere
- Users have near real-time access to recent transactions and data
- Mobile access provides an intuitive interface and navigation for clear analysis and results
- Users can manage information for multiple entities and companies
- Cloud server fetches and displays data, graphs and reports
- All interaction and transactions are secured
If you wish to integrate self-serve analytics with your Tally solution, choose a reputable, proven solution with a full suite of capabilities. SmartenApps for Tally Mobile application is based on the Smarten Augmented Analytics suite of advanced analytics and is accredited by Gartner and recognized for its intuitive, easy-to-use analytics, Smarten offers stunning visualization, dynamic charts and graphs, modern business intelligence features, and key performance indicators (KPIs) metrics.
‘In an environment where businesses are looking for a competitive edge, and trying to make the most out of precious resources, the use of mobile analytical tools is more important than ever.’
Find out how mobile SmartenApps For Tally can your small business team and extend access to your Tally solution with analytics that offer accounting, finance, sales, inventory, and purchasing professionals and team members the tools they need to improve performance.
Original Post : Combine Mobile Analytics and Tally Solutions for Results!
Mobile BI Business Use Illustrates Real Advantages!
Mobile Business Intelligence (or Mobile BI) is defined as ‘a system comprising both technical and organizational elements that present historical and/or real-time information to its users for analysis on mobile devices such as smartphones and tablets (not laptops), to enable effective decision-making and management support, for the overall purpose of increasing firm performance.’
Aberdeen Group reports that businesses adopt Mobile BI to:
- Improve business process efficiency
- Improve employee productivity
- Make better decisions, more quickly
- Provide better customer service
- Deliver real-time bi-directional data access to make decisions anytime and anywhere.
‘Mobile BI benefits go well beyond simple reporting and the sharing of data across user groups, to address real business issues and to keep users up to date and allow them to respond to real world, real-time issues.’
As local and global competition increases, most businesses are looking for ways to improve their competitive advantage, and to quickly adapt to the changing market, to employee needs and to customer buying behavior.
It can be helpful to consider some real-world business use cases, in order to understand the value and benefit of incorporating a Mobile BI solution within your technology landscape and your analytics approach.
The advantages of Mobile BI go beyond team collaboration and individual reporting needs, to provide the background and foundational information needed to make decisions on business strategy and to understand customer preferences.
The following list of companies represents a small sampling of businesses currently using Mobile BI to improve business results and efficiency:
Amazon – Amazon analyzes purchasing behavior and browsing history to predict what products a customer might want to see, and what they are likely to buy, personalizing the customer experience and making it easier for customers to complete a transaction. BI tools help the business to forecast demand and ensure that stock is available.
Starbucks – The business has implemented a loyalty program to help with customer engagement and sales, personalizing marketing strategies and allowing customers to order, pay and receive rewards. It gathers data using its digital channels and uses that data to create targeted offers and to improve customer retention, as well as increasing the amount customers spend during a visit.
Netflix – The company uses BI tools to personalize the viewing experience and to analyze customer viewing preferences and push specific options to the customer based on viewing history. Mobile BI tools allow teams to analyze and share information regarding regional viewing and to make decisions on the fly.
Uber – The company business model is dependent on the rapid changes and shifting behavior of customers from one local and regional area to the next. Real-time pricing and operational decisions are made to support surge pricing and driver deployment for high demand areas. The back-end systems and BI tools allow drivers to access information using the Uber app so that they can quickly respond to the changing environment.
Tesla – Mobile BI and wireless car data analytics allow Tesla to connect remotely to corporate offices and collect and analyze vehicle data to address issues and update customers on maintenance etc.
X/Twitter – Mobile BI provides support or moderators to identify and quickly address platform safety issues, violations, etc. The integration of artificial intelligence (AI) with BI tools allows the business to quickly respond and ensure a safe user experience.
Mobile BI provides the background and foundational information needed to make decisions on business strategy and to understand customer preferences.
These examples illustrate the many ways in which Mobile BI can be used to address business issues, providing user access and analytics for team members no matter where they are and how they need to use the data. Mobile BI benefits go well beyond simple reporting and the sharing of data across user groups, to address real business issues and to keep users up to date and allow them to respond to real world, real-time issues.
If you want to support your business user team and provide a foundation for BI tools that will better serve your team and your customers, explore Smarten Mobile BI benefits and features, with powerful functionality and access for your business users including out-of-the-box Mobile BI and advanced analytics for every team member. For more information on Mobile BI and Augmented Analytics, read our article, ‘Understanding The Truth About Mobile BI.’
Original Post : Understanding How Businesses Use Mobile BI to Achieve Results!
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Analytics Solutions Should Include Key Influencer Analytics!
What is Key Influencer Analytics ? Simply put, Key Influencer Analytics is an analytical technique that helps the user analyze and understand the various factors affecting an outcome, what variables impact the metric, and the ranking of those factors. Key Influencer Analytics takes the guesswork out of decisions by clearly illustrating what factors influence success of a pricing strategy, a business location choice, a marketing campaign, a research project, etc.
‘With the right analytics solution, your users can simply point to the dataset they want to analyze and Key Influencer Analytics will identify the target and the influencers or predictors that will affect the target, along with its impact.’
Grand View Research estimates the analytics software market at nearly 142B USD, with an expected growth of nearly 14% over the next five to six years. The reason for this growth is simple. In order to succeed in their market of choice, businesses must understand the competition, the customer and how their products and services are perceived and embraced in the market, so they can plan for the future and adapt to changes.
There are a few factors that will impact the efficiency and effectiveness of the analytics solution you choose.
- First, the data volume you want to analyze can be very large, and the data can come from disparate systems, so the ability to integrate and gather all data in one place is important. Depending on the size of the dataset a user selects, there may be hundreds or thousands of variables, and business users often find it difficult to identify the rights ones. Yet without the ability to identify the right variables, the business is likely to measure and attend to the wrong things.
- Secondly, you must provide easy-to-use tools that your team can leverage to find what they need. Users should have interactive features that allow them to see and explore other combinations and impacts and can select target and predictors, and use them for models, reports or KPIs. Influencer Analytics empowers every business user and allows them quickly select and target data to achieve results without the assistance of a data scientist, IT professional or analyst.
- Third, your team needs key influencer analytics to understand the interrelationships of data points and how they affect outcomes so they can adapt and adjust. With the right analytics solution, your users can simply point to the dataset they want to analyze and Key Influencer Analytics will identify the target and the influencers or predictors that will affect the target, along with its impact and it provides crucial metrics such as mean, outliers, and others and identifies relationship and distribution among variables. The system will auto-suggest relationships and present distribution and impact using the most appropriate visualization.
Here are just a few of the benefits of Key Influencer Analytics:
- Identify what matters most in your data!
- Understand the impact and interdependence of variables
- Leverage auto-suggestions and machine learning to get data insights
- Identify influencers affecting the target variable with auto-suggestions and quick maneuvers using different combinations
‘Key Influencer Analytics takes the guesswork out of decisions by clearly illustrating what factors influence success of a pricing strategy, a business location choice, a marketing campaign, a research project, etc.’
With Key Influencer Analytics your team can address the right issues and capitalize on opportunities to optimize results. Explore Smarten Augmented Analytics modules and components and the benefits of Key Influencer Analytics for your team and your enterprise.
Original Post : Use Key Influencer Analytics to Understand Data Relationships!
