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Tag: Augmented Analytics
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.’
Using Embedded BI to Improve Customer Service and Satisfaction!
As a software solution product and service provider, you are focused on the common issues your customers face, providing features and functionality that will satisfy the most customers and give you an edge in the market.
Nothing…and I DO mean NOTHING…is more prominent in technology buzz today than Artificial Intelligence (AI). The use of Generative AI, LLM and products such as ChatGPT capabilities has been applied to all kinds of industries, from publishing and research to targeted marketing and healthcare. Gartner recently estimated that the market for AI software will be nearly $134.8 billion, with the market growing by 31.1% in next several years. In a recent survey of C-suite executives, 80% of said they believe AI will transform their organizations, and 64% said it is the most transformational technology in a generation.
Get the Most Out of Your Tally Solution with Integrated Mobile Augmented Analytics!
If you are a Tally ERP or a Tally Prime user, you know the value of the comprehensive financial management solution for managing accounting, inventory, purchasing, sales, finances, taxes, etc. But, what if you could take your Tally solution to the next level with integrated analytics that will allow your business professionals to add value to clients and colleagues by analyzing data across the Tally modules to discover trends, patterns, and data insight and forecast and predict results.
We invite you to explore our latest knowledgebase articles and to join the Smarten user community on Smarten Support Portal.
Add Mobile BI for Your Team and Improve Access, Analytics and Business Decisions!
Recent surveys reveal that the mobile BI market is growing by leaps and bounds. Of those surveyed, over 35% of companies said that mobile BI is in use among their business users. While some businesses have yet to adopt BI tools or augmented analytics for their business users, many have done so, and are now in the process of adding mobile BI to the set of tools available to users. There is no doubt that the COVID pandemic affected this strategy, since many businesses are now embracing a full-time or a hybrid remote work environment that requires team members to have access to tools from wherever they are working.
Embedded BI Can Provide Numerous Benefits to the Team and the Enterprise!
When a business invests in technology, either to buy a best-of-breed solution or to develop their own enterprise apps, there is significant expense. If you are developing your own solution, you are using in-house resources or engaging IT consultants. If you are purchasing solutions off the shelf, you may or may not need customization but, in any case, the solution will cost you quite a bit of money and it will take more funding to support and maintain and integrate that solution.
Add Analytics to Your Tally Solution and Give Your Small Business Team Members What They Need!
Small businesses are the lifeblood of the economy. They serve the local community and strategize for expansion and growth. By their nature, they do more with less and every team member plays more than one role.
‘With the right analytical tools and access, every small business team member can see and use data.’
Many small businesses use Tally for accounting, finance, sales, purchasing and other functions, and the small business manager or management team is often responsible for ensuring that the data within these systems is up-to-date and for providing information with which to make decisions. But it is crucial for every small business team member to have the information they need to do their job.
According to Grand View Research, nearly 50% of small businesses use business intelligence as a core element of their business strategy. So, why not yours? By providing integrated analytics for your Tally ERP or Tally Prime solution, and cascading this capability to other team members, you can offer your team important tools and the ability to analyze data across modules within the Tally suite, so that you can gain crucial insight into data, trends, patterns, opportunities and issues.
Small businesses count on the creativity and innovation of every team member in order to grow, to serve customers and to compete. With the right analytical tools and access, every small business team member can see and use data to make fact-based decisions and to contribute and collaborate, thereby improving productivity and optimizing resources.
Team members have access to data and transactions on the road, using a mobile app, so they can always perform tasks and keep projects and workflow moving. You can extend the office environment so your team can make decisions from anywhere, with dashboards and reports that include payables and receivables, ledger and cost center data, sales, purchasing, bank and cash, account statements and other critical reports and data formats.
‘You can offer your team important tools and the ability to analyze data across modules within the Tally suite, so that you can gain crucial insight into data, trends, patterns, opportunities and issues.’
Find out how SmartenApps for Tally will support 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. Enjoy a 30-Day Free Trial of SmartenApps for Tally. Users can Download and Register for SmartenApps for Tally and use Tally data to analyze, explore and clarify.
Original Post : Give Small Business Team Members Access to Tally AND Analytics!
If you are an IT professional, a business manager or an executive, you have probably been following the progress of the Citizen Data Scientist movement. For a number of years, Gartner and other technology research and analysis firms have predicted and monitored the growth of this phenomenon.
In fact, Gartner predicted that, ‘…40% of data science tasks will be automated, resulting in increased productivity and broader usage by citizen data scientists.’
So, how is it going? It’s actually going quite well.
However, it is worth noting that some businesses have not had the success they expected when implementing a Citizen Data Scientist approach. One of the primary reasons for falling short of results is to set inappropriate expectations regarding the role of Citizen Data Scientists vs. Data Scientists within the organization.
As the Citizen Data Scientist approach gained momentum, businesses seemed to develop an expectation that Citizen Data Scientists could replace Data Scientists. Nothing could be further from the truth. Augmented Analytics and Citizen Data Scientists are not meant to replace refined data modeling or the role of Data Scientists, but rather can supplement and support analytics across the enterprise. The enterprise should not discount the value of strategic data analytics and its place in the organization but rather should see augmented analytics and Citizen Data Scientists as a way to drive fact-based decisions and provide clarity and data-driven actions across the enterprise.
The fact is that there is a place for Citizen Data Scientists within your business, AND a place for Data Scientists and the strategic use of their skills.
If you want your Citizen Data Scientist initiative to succeed, and you wish to achieve data democratization and data literacy, you must understand how augmented analytics should be used to support business users and organizational objectives. So, let’s dive in and explore this issue further.
AUGMENTED ANALYTICS SOLUTIONS
When selecting an augmented analytics solution, your enterprise must choose tools that are designed specifically for business users with average technology and analytical skills. Easy-to-use, intuitive tools will ensure user adoption. If you choose business intelligence or advanced analytics tools that are meant to data scientists, IT professionals or business analysts, you are setting your team up to fail. These tools are focused on the needs of Data Scientists. The tools are powerful and can produce undeniable value in the right hands, but they are not designed for your business professionals. To use these tools, users must manually gather and prepare data, scrubbing, cleaning, etc., and then write complex queries and use complicated algorithms and analytical techniques. Users must be expert in R programming or in Python or other scripting and programming languages. In short, this kind of software, app or solution is not for the feint of heart, and it’s certainly not suitable for a Citizen Data Scientist.
The right business user solution is an augmented analytics should be designed with all the tools a business user needs to get swift, dependable results.
- Self-Serve Data Preparation
- Assisted Predictive Modeling
- Smart Data Visualization
- Machine Learning and Natural Language Processing (NLP)
- Clickless Search Analytics
EXPECTATIONS AND RESULTS
Once you have chosen the right augmented analytics solution, you must establish appropriate expectations.
MANAGERS AND EXECUTIVES SHOULD NOT EXPECT CITIZEN DATA SCIENTISTS TO BE DATA SCIENTISTS
That is not the purpose of this strategy. The purpose of a Citizen Data Scientist approach is to give your team members tools that will allow them to discover trends and patterns, and to gain insight into what is working and what is not working in their current process, workflow and in their day-to-day activities. If and when an issue is identified that will require adapting a strategy or a major goal or objective, the enterprise must have a process in place that will allow a team member to refer her/his research to a Data Scientist, IT team member or other analytical professional, where the initial analysis will be refined and studied for use in strategic goals. When a Citizen Data Scientist uses augmented analytics, they should not be expected to perform complex modeling or to establish predictive models that will be rolled out in production mode or dictate a new strategy.
CITIZEN DATA SCIENTISTS SHOULD FOCUS ON HYPOTHESIS AND PROTOTYPING
If a business user/Citizen Data Scientist discovers an issue or an opportunity, that user can explore the issue, look for relationships among the variables and factors that affect success and failure, develop an understanding of the challenge or the possibilities for product bundling, changing a marketing campaign, etc., and then share and collaborate with the team to further analyze and discuss the issues. It is this day-to-day access to analytics and clear data that will allow business users to make fact-based decisions and to build an understanding of data and analytics and how the information contained in data repositories and software systems can be integrated and analyzed to gain more clarity and to provide real metrics and measurements, so decisions are based on facts, rather than guesswork and opinion.
Role – Day-to-day business decisions, team collaboration and data sharing.
Benefits – Improved team collaboration, improved data literacy and perspective, improved business agility, timely decisions.
DATA SCIENTISTS SHOULD FOCUS ON STRATEGIC GOALS AND DATA REFINEMENT
Most organizations cannot afford a team of Data Scientists and, even if they could, they do not want those professionals pulled away from crucial, strategic focus by day-to-day requests and projects that have short-term outcomes and importance. Rather than trying to replace Data Scientists within the business, the enterprise can optimize their time and reduce the need to hire more resources, by improving focus and enabling a workflow that allows them to concentrate on those areas that will reap the most benefit to the organization.
Role – Analyze and refine data for 100% accuracy and strategic use, act as expert, statistical expert.
Benefits – Focus on strategic issues with fewer day-to-day requests, collaborate on projects that require data refinement for 100% accuracy, focus on mature modeling requirements.
When an organization sets out to leverage the Citizen Data Scientist approach, it can ensure success by taking the time to plan appropriately AND by establishing appropriate expectations for how and when business users will engage in analytics and the results they can and should produce. When an organization understands the true meaning and purpose of the Citizen Data Scientist role, it can incorporate this strategy and align business users and Data Scientists to achieve greater collaboration and synergy.
Be sure you choose a vendor with comprehensive augmented analytics features and functionality designed specifically for business users, to support the transition of your business users to Citizen Data Scientists and ensure that your project will succeed. Contact Us to find out how we can help you plan and achieve your goals. It really IS possible!
