Can Artificial Intelligence (AI) Improve My Business and Consumer Apps?
It is impossible to listen to the news, read a business publication or browse social media without finding an article or story about Artificial Intelligence (AI).
Tag: Augmented Analytics
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Assisted Predictive Modeling Enables Business Users to Predict Results with Easy-to-Use Tools!
Gartner predicted that, ‘75% of organizations will have deployed multiple data hubs to drive mission-critical data and analytics sharing and governance.’
With all of this business data, how can your organization a) help your team gather and use data to make fact-based decisions, and b) use that data to predict which products and services your customers will need in the future, how your customer buying behavior is shifting, how your competition will respond to the market, when and how to sell your products, which marketing campaigns will work in the future, and how and when to recruit new resources and open new locations.
‘Giving your team access to sophisticated, complex analytical techniques in an intuitive environment, allows them to leverage predictive analytics without a data scientist or analytical background.’
A misstep in any of these areas can create risk, damage your business reputation, or put you years behind your competition. That’s why your business needs predictive analytics. And, not just any predictive analytics! If you want to democratize data among your team members and provide easy-to-use tools to encourage user adoption and enable data-driven decisions, you must choose wisely.
Assisted predictive modeling can take the guesswork out of analytics, by helping users to choose the right techniques to analyze the type and volume of data they use to analyze. These tools allow the organization to apply predictive analytics to any use case using forecasting, regression, clustering and other methods to analyze an infinite number of use cases including customer churn, and planning for and target customers for acquisition, identify cross-sales opportunities, optimize pricing and promotional targets and analyze and predict customer preferences and buying behaviors.
Prescriptive analytics for regression models combines predictive modeling and optimization techniques to produce actionable recommendations for decision-making. While descriptive and predictive analytics use past events to predict future outcomes, prescriptive analytics goes beyond this process to recommend optimal actions that will help the business to achieve specific goals. By merging prediction with prescription, the enterprise can proactively identify challenges and opportunities, and drive more effective and strategic outcomes.
These are just some of the tools your business should consider to build a solid foundation for predicting outcomes using historical and forward-looking data analytical techniques.
Giving your team access to sophisticated, complex analytical techniques in an intuitive environment, allows them to leverage predictive analytics without a data scientist or analytical background. Your users can access:
- Time Series Forecasting
- Regression Techniques
- Classification
- Association
- Correlation
- Clustering
- Hypothesis Testing
- Descriptive Statistics
‘Assisted predictive modeling can take the guesswork out of analytics, by helping users to choose the right techniques to analyze the type and volume of data they use to analyze.’
With the right predictive analytics solution, your business can also support data scientists, IT and business analysts with tools that allow for R script integration, so these users can perform complex statistical and predictive analysis and reporting to support strategic organizational needs.
Smarten Assisted Predictive Modeling 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 : Leverage Predictive Analytics for Every Business User!
What Do I Need to Know Before I Choose a Mobile Business Intelligence (BI) Solution for My Business?
What makes a great Mobile Business Intelligence (BI) solution? There are many factors to consider and, if you do not choose wisely, you risk a) spending a lot of money and getting very little in return, b) working with incorrect, old or incomplete data, c) having to upgrade and spend even more money, d) disappointing your team and falling short of objectives, e) missing your Citizen Data Scientist initiative goals.
We invite you to explore our latest knowledgebase articles and to join the Smarten user community on Smarten Support Portal.
Where Does Embedded BI Fit in Business Decision-Making?
Recent research reveals five primary benefits for embedding business intelligence into popular business apps and software:
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.
Business Benefits for Small Businesses Integrating Analytics with Tally Solutions!
Some small business owners believe they do not need, or cannot afford, business analytics. Nothing could be further from the truth! If your business is currently using Tally Prime or Tally ERP, you can leverage your existing accounting and financial modules to create an augmented analytical environment that is suitable for every team member.
We invite you to explore our latest knowledgebase articles and to join the Smarten user community on Smarten Support Portal.
If You Want Your Users to Adopt BI Tools, Embedded BI is the Way to Go!
If you are considering a business intelligence or augmented analytics solution for your business users, or if you have already invested in these tools, you will want to focus on user adoption and, to meet the expectations of your executive team and IT staff, you must ensure return on investment (ROI) and a low total cost of ownership (TCO). But user adoption is often difficult to achieve. Users are familiar with their existing tools and solutions and workflow, and humans are notoriously resistant to change!
The key to achieving your goals for user adoption, ROI and TCO is to pursue an embedded business intelligence (BI) strategy. If your team needs convincing, here are just a few statistics and results reported by organizations currently using the Embedded BI approach to analytics.
- 67% of companies say that time spent in their applications increased after they embedded analytics
- 85% of commercial applications are currently embedding analytics capabilities
- 93% of application teams say that embedded analytics improves the user experience
- 96% of application teams say embedded analytics contributes to overall revenue growth
- …and if you are a technology company, currently selling an app, you might wish to consider the fact that 68% of commercial application teams charge more for analytics in their apps!
‘Integrating embedded analytics and BI tools within a familiar enterprise application allows users a single sign-on (SSO) experience, and puts analytical tools right at their fingertips, within their familiar applications.’
The undeniable fact is that your business users know their enterprise apps. They are familiar with the workflow and the features and the processes, and they know where to find information and how to use it within these familiar applications. They DO NOT want to use a silo application that requires them to move data around to get it into an analytical solution and then use that solution to analyze data and results, and they DEFNITELY DO NOT want to learn a complex new analytical system. So, user adoption will suffer, if you take that approach!
Integrating embedded analytics and BI tools within a familiar enterprise application allows users a single sign-on (SSO) experience, and puts analytical tools right at their fingertips, within their familiar applications. If the tools are easy-to-use, your business users do not need specialized skills to successfully analyze and use data, so they can quickly and easily make fact-based decisions, and support your enterprise goals and objectives.
Here are some real benefits you can reap from using embedded BI tools:
End User Organizations – Internal IT teams can easily integrate and embed BI objects within their ERP, CRM, Intranet portal or other applications, to improve user adoption and maximize Business Intelligence ROI.
ISV and OEM Partners – Leverage Embedded BI and Integration APIs to add powerful functionality and provide access to existing ERP, SCM, HRMS, CRM or any other products and to provide analytics capabilities within existing products without major Investment. Reduce time to market and stay ahead in the competition!
‘The key to achieving your goals for user adoption, ROI and TCO is to pursue an embedded business intelligence (BI) strategy.’
You can find out more about the Smarten Embedded BI And Integration APIs solution and add powerful functionality and access to existing ERP, SCM, HRMS, CRM or any other products. Provide analytics capabilities within existing products without major Investment. Your business users and your customers will appreciate the ease-of-use and access and you will gain a competitive advantage. Read our White Paper: ‘Making The Case For Embedded BI And Analytics.’
