Tag: Self-Serve Predictive Analytics

Predictive Analytics Supports Citizen Data Scientists!

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February 20, 2025

Use Predictive Analytics for Fact-Based Decisions

Like every other business, your organization must plan for success. In order to do this, the team must have a dependable plan and be able to forecast results and create reasonable objectives, goals and competitive strategies. These plans and forecasts will support investment in technology, appropriate resources and hiring strategies, additional locations, products, services and marketing strategies, partnerships and other components of business management to ensure success.

Forecasting and planning cannot be based on opinions or guesswork. It must be based on historical data, facts and clear insight into trends and patterns in the market, the competition and customer buying behavior. To accomplish these goals, businesses are using predictive modeling and predictive analytics software and solutions to ensure dependable, confident decisions by leveraging data within and outside the walls of the organization and analyzing that data to predict outcomes in the future.

‘Every industry, business function and business users can benefit from predictive analytics.’

According to CIO publications, the predictive analytics market was estimated at $12.5 billion USD in 2022 and is expected to reach $38 billion USD by 2028.

Predictive Analytics is Beneficial for Every Industry and Business Function

Predictive analytics encompasses techniques like data mining, machine learning (ML) and predictive modeling techniques like time series forecasting, classification, association, correlation, clustering, hypothesis testing and descriptive statistics to analyze current and historical data and predict future events, results and business direction.

When a business selects predictive analytics tools that are suitable for business users and team members, it can leverage sophisticated algorithms and analytical techniques in an easy-to-use environment to enable every team member to contribute to the bottom line by allowing them to gain insight into data and use that insight to make confident, fact-based decisions.

With these tools, users can explore patterns in data and receive suggestions to help them gain insight on their own without dependence on IT or data scientists. The enterprise can provide the tools needed at every level of the organization with tools and data science for business users that are sophisticated in functionality and easy-to-use for users at every skill level.

The benefits of augmented analytics and self-serve predictive modeling include:

  • No complex algorithms or data manipulation
  • Auto-recommendations for algorithms to explore underlying data
  • No advanced data science skills required
  • Analyze, share, collaborate and optimize business potential
  • Business users can prototype and hypothesize without professional assistance
  • Recommend optimal actions to achieve specific goals

Every industry, business function and business users can benefit from predictive analytics. Here are some examples of the use of predictive modeling:

Retail – Predictive Analytics tools can be used to understand customer buying behavior and to suggest products and product bundling based on previous purchases, buying patterns, and demographics. This creates a more personalized and targeted shopping experience that is unique to each customer.

Supply Chain – The organization can forecast demand and manage the supply chain to optimize inventory using machine learning to predict customer demand, seasonality, product trends etc., to that the enterprise can mitigate stock shortages and avoid warehouse and inventory overstock.

Healthcare – By using historical data regarding specific diseases, conditions and treatment plans, providers can forecast treatment outcomes, limit risk and improve overall care, thereby reducing complications, readmission and provider resource, medication and hospital bed shortages.

Energy Infrastructure – Using predictive analytics allows these businesses to monitor and analyze data and performance and to detect patterns and trends that may indicate downtime, breakdowns and maintenance issues.

Financial Services, Banks and Loan Businesses – Predictive analytics provides support for credit risk and fraud mitigation and allows businesses to create scoring models for loan approval, etc. based on credit history, and other financial considerations. Predictive modeling allows the organization to identify transactions that are outside the norm, and alert the business and its customers of hacks, fraud, etc.

‘When a business selects predictive analytics tools that are suitable for business users and team members, it can leverage sophisticated algorithms and analytical techniques in an easy-to-use environment to enable every team member to contribute to the bottom line by allowing them to gain insight into data and use that insight to make confident, fact-based decisions.’

These are just some of the benefits and use cases your business can consider to decide on how best to implement predictive analytics and integrate the use of these tools into day-to-day use for business users to improve data-driven decisions and results.

To find out more about AI And Predictive Analytics, Contact Us. 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.

Original Post : Predictive Analytics Supports Citizen Data Scientists!

Low-Code No-Code Benefits BI Tools and Analytics!

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January 6, 2025

What Are the Benefits of Low-Code No-Code in Analytics?

Research indicates that, ‘within the next several months, 65% of Application Development Will Be Done Using No-Code Platforms.’

Here, we discuss the benefits of LCNC-enabled analytics, no code business intelligence benefits and employing analytics and low code no code for teams, business users, Citizen Data Scientists and, ultimately, for the enterprise.

‘LCNC analytics enhances workflow and automates business processes across systems and data repositories to improve process uniformity, user and management communication, efficiency and productivity.’

What follows is a list of the primary benefits of Analytics With A Low Code No Code Component. There are many other advantages to this approach, but this list will give you an idea of how this simplified development process can have a positive impact on your organization and your staff.

Low-Code, No-Code (LCNC) Benefits Teams, Business Users and Citizen Data Scientists

User Benefits

Data Creation vs. Data Consumption – When a team member or business user is presented with self-serve analytics, the user will often see the new tool as less of an opportunity and more of a burden. By providing augmented analytics with LCNC-enabled features, the team can easily incorporate useful tools into day-to-day tasks. They can create, share and collaborate and the value of analytics will become clear to them, thereby enabling user adoption. Your team will advance beyond consuming data created by IT staff to conceiving, creating and sharing data and making the transition to Citizen Data Scientists, thereby reducing dependency on the IT team and freeing IT to focus on more strategic issues.

Fact-Based Decision-Making and Data literacy – LCNC-enabled analytics and BI tools creates an intuitive data exploration environment that is accessible and easy to navigate, so the team can create real-time insights, collaborate, present information to management teams and work in an agile environment, incorporating analytics within day-to-day workflow to make data-driven decisions.

Empowering Users – The low code, no-code analytics approach enables team members with tools that allow for data visualization, data preparation, predictive modeling, and the Use Of Analytics to create reports, dashboards and data visualization. Data is presented in a way that is meaningful to each user, no matter their business function or their technology experience. Users can quickly respond to customer needs, market changes, and management directives and goals without the assistance of IT team members, thereby freeing the team to adapt and address issues quickly, and optimizing the IT team and resources. The user is empowered to use data in a way that allows them to leverage domain, industry and business functional knowledge, making them more independent and encouraging them to become power users. Analytics with LCNC platforms allows users to leverage dashboards and reports and dashboards that incorporate data integrated from disparate systems, without complex data preparation and coding.

Personalization and Customization – Low-code, no-code supports an intuitive drag and drop environment with pre-built components, so the organization and its users can create custom views, visualizations and tools to support the needs of a team, a business function, or a particular user, so users are not limited to restrictive reports, dashboards, visualization and tools. Because every business and every user is different, the ability to personalize and customize workflow to support user needs is key to user adoption and to successful use of data, and meaningful interpretation of data.

Enterprise Advantages

User Adoption – When an enterprise invests in business intelligence and analytics, it must ensure user adoption in order to make the most of its investment and its analytics strategy. By employing LCNC-enabled analytics, the organization ensures that users will WANT to use the selected solution to complete tasks and follow business processes and workflow to complete approval processes, present data, and increase the value of each team member’s knowledge and skill for the organization.

Enable Citizen Data Scientists – Create an environment where business users can thrive and become Citizen Data Scientists with solutions that are easy-to-use, intuitive and can quickly produce results and data insight that will enhance the team value to the organization.

Improved Return on Investment and Total Cost of Ownership – The deployment of analytics and BI tools with LCNC components improves Return on Investment (ROI) and Total Cost of Ownership (TCO) by increasing user adoption, improving productivity and decreasing the time it takes to make a decision, and by leveraging the skills and knowledge of your team, as well as optimizing the time of your IT team and data scientists by redirecting their attention to more strategic issues.

Responsive to Changing Workflow and Technology Environs – LCNC analytics enhances workflow and automates business processes across systems and data repositories to improve process uniformity, user and management communication, efficiency and productivity. It improves team collaboration, so the business can make the most of its technology and human resources. LCNC is flexible and agile and can help the enterprise to respond to changes in technology and changes within the business environment.

Scalability and Governance – Governance, security and scalability are all important aspects of technology management. To protect its interests, mitigate risk and establish best practices, the enterprise can use the capabilities and backend components of its analytics solution to build appropriate frameworks, create policies and best practices, and build an integration strategy to support LCNC analytics within existing systems.

Cost vs. Productivity – When the enterprise chooses LCNC analytics and BI tools it can leverage low-code/no-code platforms to reduce reliance on programmers and developers and allocate those resources to more strategic projects. By encouraging collaboration among users and with IT and Data Scientists the business can leverage business, technical and other specialized knowledge and encourage innovation, data democracy and data literacy to drive enterprise efficiency and growth.

Data Integration and Embedded BI – LCNC analytics allows for ease of data integration among data resources, with APIs and pre-built connectors so the enterprise can easily integrate data from ERP, CRM, HRM, finance, SCM and other systems with no complex coding required. LCNC components allow for ease of data integration visual tools to map and transform data from disparate sources and systems so the organization has a comprehensive view of data and can gain valuable data insight. Embedded BI and analytics components can further enhance user adoption and enterprise ROI and TCO by integrating analytics within familiar and popular business applications.

Preparing for the Future – The Future Of No-Code And Low-Code within BI tools and analytics solutions is promising. Current and future development in Artificial Intelligence (AI), and Machine Learning (ML) will enable further expansion of LCNC capabilities. As these tools become more intuitive and adaptive, the enterprise will see more advantages. Users and businesses will enjoy a more personalized experience, more seamless contextual awareness and more responsive user interfaces for data preparation, predictive analytics, data visualization, and clear, concise dashboards and reports. The business will enjoy more personalized guidance, more refined data insight and more targeted data analytics to support the future of the enterprise.

For a more detailed discussion of Low-Code/No-Code in Analytics, explore our complementary article, ‘The Use and Benefits of Low-Code No-Code Development in Business Intelligence (BI) and Predictive Analytics Solutions.’

‘There are numerous benefits of LCNC-enabled analytics and employing analytics and low code no code for teams, business users, Citizen Data Scientists and, ultimately, for the enterprise.’

Contact Us to find out how no code data analytics and the low code approach for business analytics can support your needs. Our Business Intelligence And Augmented Analytics solution can help your business achieve objectives. Read this free article to discover the potential of no code business intelligence software and LCNC And AI In Predictive Analytics, explore our seamless Analytics Solution Technology. Download A Free Trial Of Smarten Analytics Software.

For a detailed discussion of Low-Code/No-Code in Analytics, explore our complementary article, ‘The Use And Benefits Of Low-Code No-Code Development In Business Intelligence (BI) And Predictive Analytics Solutions,’ ‘What Is LCNC And How Does It Change The Analytics Market?’, ‘How Does LCNC Enhance BI And Predictive Analytics,’ and ‘Choose The Right LCNC BI Tools And Predictive Analytics.’

Original Post: Low-Code No-Code Benefits BI Tools and Analytics!

How to Choose the Right Low-Code/No-Code BI Tools and Analytics!

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January 6, 2025

Be Sure You Choose the Right Low Code No Code BI and Analytics!

By some reports, the no-code and low-code development platform market is expected to grow from $10.3 billion in 2019 to $187 billion by 2030, reflecting a compound annual growth rate (CAGR) of over 31%.

No code Predictive Analytics, low code data analytics and No Code Business Intelligence Solutions provide numerous advantages and benefits to the enterprise and its users. To leverage predictive analytics and low code no code, the organization must choose the right vendor and the right solution.

Choose the Right Low-Code, No-Code BI Tools and Predictive Analytics Solution

As with any other software solution or business application, there are many factors and considerations that influence solution selection. Here we highlight some of the primary areas of focus your business will want to include in its vendor and solution review.

‘If you are ready to choose a business intelligence (BI) solution, with self-serve augmented analytics, LCNC and AI-enabled tools, we encourage you to find out more about the benefits of this approach, and the capabilities of our advanced analytics solution.’

Is the Solution Truly LCNC?

In this article, we have defined low-code and no-code development and how it fits within the business intelligence (BI) and augmented analytics environment. But it is important to remember that the low-code/no-code market of platforms and how this technology is integrated within analytics solutions will vary greatly. While some business intelligence (BI) and augmented analytics solutions do incorporate LCNC concepts, features and tools, not every solution or application can truly be called low code/no code. In short, some solutions have a minimal LCNC component and will require the skills of a programmer or developer to leverage their features and functionality. If you plan to roll out LCNC-enabled analytics to provide your business users and Citizen Data Scientists with tools, be sure that the analytics and BI tools you choose are truly LCNC-enabled with features that will allow your team to work on their own and use the solution on a daily basis to create, collaborate and make decisions. Avoid complex and highly-customized projects that will take time and money to complete and will require costly updates and upgrades when you wish to make a change.

Choose a Solution That Meets the Skills and Needs of Users and the Enterprise

By incorporating LCNC within analytics and BI tools, you can enjoy many benefits, but it is important to understand that low-code platforms are not suitable for all types of applications for analytics and BI or for business use cases. Depending on how you plan to use analytics within the organization, and on the use cases you develop to test solution capability, you may find that some solutions will not meet the needs. Low-Code components are not suitable for extremely complex or highly-customized analytics or BI projects and, depending on the solution and vendor, the solution may not be able to handle certain volumes or types of data or workflow i.e., big data or large-scale analytics. Standard low-code platforms are not always secure, because the generated code may lack the robust security controls and features normally seen in code written by a professional programmer or developer. Be sure that the solution you choose meets your needs for security, privacy and standards. Be sure that the solution you select leverages LCNC in a way that is appropriate for analytics and BI tools and applications.

Vendor Understanding of LCNC

As with all software programs, tools, techniques, platforms and frameworks, the capabilities of and features and functionality of a particular technology cannot be fully leveraged if the development team does not understand the full potential, restrictions and opportunities inherent in the technology. When you choose an LCNC-enabled analytics solution be sure you understand the skills, experience and capabilities of the development team responsible for designing, creating and maintaining the analytics solution. We often refer to LCNC as a drag and drop technology, but that does not mean that its incorporation and integration into a complex analytics solution should be taken lightly. There is much to be done to ensure that the technology is used appropriately and that the vendor has planned for the future with flexible, scalable solutions that will serve you well.

Solution Integrity

Is the business intelligence, augmented analytics solution built on a solid foundation of sophisticated analytics tools and techniques? LCNC should be used to enhance a solid product, not to mimic a robust solution. Be sure that the product and vendor have references and a history of providing analytics and business intelligence and that the solution you are selecting is not just a good looking front-end that has very little capability. Does the solution provide rich functionality and features with self-serve tools to leverage sophisticated algorithms and analytical techniques or is it a simple data gathering and reporting tool?

Roadmap for the Future

When a vendor incorporates new technology within its existing products, it must have an idea of where the product is going – a product roadmap that takes into consideration the new technology, how it may change in the future and how the product can and should be upgraded to take advantage of what is happening in a rapidly changing technology environment.

The future of LCNC will include expanded and enhanced artificial intelligence (AI) capabilities. For example, the concept of Unified Commerce Business Optimization System (UCBOS), a zero-code approach that is designed to enable digital transformation throughout the enterprise by connecting all systems, data and workflow. The technology world of the future will allow programmers to use natural language to describe what they need and their requirements for an app, and then translate that into functional applications, allowing developers to program using natural dialogue to create and upgrade software. While we are few years away from this future, it easy to see how application development, and the skills required of an app development team will have to change, and how the evolution of software and applications will involve a different process than it does today, employing human skills, creativity, and artificial intelligence to take on more routine tasks and processes. Be sure your vendor has a vision for the future of the analytics product and will continue to leverage LCNC, AI and other technologies and tools as they become available and as they are deemed appropriate and practical for business intelligence and analytics solutions.

There are other factors inherent in choosing the right LCNC-enabled analytics and BI tools. Here, we have provided some of the primary considerations for your review. If you are ready to choose a business intelligence (BI) solution, with self-serve augmented analytics, LCNC and AI-enabled tools, we encourage you to find out more about the benefits of this approach, and the capabilities of our advanced analytics solution.

For a more detailed discussion of Low-Code/No-Code in Analytics, explore our complementary article, ‘The Use And Benefits Of Low-Code No-Code Development In Business Intelligence (BI) And Predictive Analytics Solutions.’

‘No code Predictive Analytics, low code data analytics and No Code Business Intelligence Solutions provide numerous advantages and benefits to the enterprise and its users. To leverage predictive analytics and low code no code, the organization must choose the right vendor and the right solution.’

Contact Us to find out how no code data analytics and the low code approach for business analytics can support your needs. Our Business Intelligence And Augmented Analytics solution can help your business achieve objectives. Read this free article to discover the potential of no code business intelligence software and LCNC And AI In Predictive Analytics, explore our seamless Analytics Solution Technology. Download A Free Trial Of Smarten Analytics Software.

For a detailed discussion of Low-Code/No-Code in Analytics, explore our complementary article, ‘The Use And Benefits Of Low-Code No-Code Development In Business Intelligence (BI) And Predictive Analytics Solutions,’ ‘What Is LCNC And How Does It Change The Analytics Market?’, ‘How Does LCNC Enhance BI And Predictive Analytics,’ and ‘LCNC Benefits Teams, Business Users And Citizen Data Scientists.’

Original Post: How to Choose the Right Low-Code/No-Code BI Tools and Analytics!

Enhance BI Tools and Analytics with Low-Code, No-Code Development!

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January 6, 2025

BI Tools and Analytics with Low-Code, No-Code Features!

Whether your team is currently using traditional business intelligence, or augmented analytics tools, or you are planning to implement your first analytics solution, it is important to understand the relevance of low-code and no-code development (LCNC) and LCNC features and techniques to your team and your selected analytics solution.

Analytics with business intelligence and low code no code go hand-in-hand. The solution you choose can and should include both standard BI tools and sophisticated augmented analytics.

The global technology research firm, Forrester highlights the complexity of existing technology environs, and the importance of supporting the business with agile, adaptable tools and workforce and suggests that low-code/no-code development allows organizations to accelerate innovation and increase business agility and sustainability.

‘By integrating this approach within the business intelligence and augmented analytics environment the business can eliminate the need for expert programmers and IT professionals and allow team members to perform simple analytical, reporting and visualization tasks and create and explore analytics without the assistance of consultants or IT staff.’

When we add a low code no code complement to this environment, we integrate simple technology that allows the analytics solution to keep pace with your changing organization while enabling data sharing and user adoption so the enterprise can produce fast, dependable insights and improve the value of business analysis across the enterprise, and democratize the use of advanced analytics.

How Can Low-Code, No-Code Development Enhance BI Tools and Predictive Analytics?

To further illustrate how low code and no code development can be leveraged in BI tools and analytics, let’s look at some examples of how LCNC can be integrated within the analytics environment to improve, enhance and innovate analytics features and functionality.

Data Preparation, Transformation and Cleaning

Connect to multiple data sources, clean and transform data using intuitive visual tools, wizards, data pipeline charts and configuration, without the need to create complex extraction, transformation and loading (ETL) scripts.

Data Visualization

A drag and drop smart visualization engine allows the user to select the best fit and most appropriate options to visualize a particular dataset based on data columns, types, data volume and other factors.

Self-Serve Reports, Graphs and Dashboards

The team can leverage self-serve tools and wizards with drag n’ drop features to create dashboards, reports and summaries, to pivot and unpivot data, to add columns, spot lighters, and other features to enhance and clarify data presentation.

Predictive Modeling

A wizard-based, guided user interface (UI) helps users to create predictive models with no need for IT intervention, and no programming or scripting experience. The system will suggest the best-fit algorithm for the data the user wishes to analyze and fine tune parameters to create accurate, appropriate predictive models.

Anomaly Alerts

Key Performance Indicators (KPIs) are configured with simple or complex expressions, thresholds and frequencies, using a wizard-based user interface (UI), so the team can achieve swift results without IT intervention.

Expressions

An easy-to-use expression engine leverages functions and syntax with examples and test/validation features for key performance indicators (KPIs), new columns and other areas where expressions are required.

BI Platform Administration

The Application Administrator is a 100% graphical user interface (GUI) system that allows for platform and application management without scripting.

User Access Rights and Permissions

Configure and manage user access rights without scripting or programming using a 100% graphical user interface (UI) approach.

Embedded BI

Optimize application integration with easy-to-use Application Programming Interfaces (API) to embed BI objects and predictive models within third-party applications, and perform administrative tasks including user management and user access rights management.

By integrating this approach within the business intelligence and augmented analytics environment the business can eliminate the need for expert programmers and IT professionals and allow team members to perform simple analytical, reporting and visualization tasks and create and explore analytics without the assistance of consultants or IT staff, thereby reducing dependency on data scientists and IT and enabling power users and Citizen Data Scientists.

In addition, the use of low code and no code techniques and platforms allows for improved performance, and provides the flexibility to address rapidly changing user and business requirements as well as allowing the solution vendor to quickly add features and upgrade the solution to keep it evergreen.

For a more detailed discussion of Low-Code/No-Code in Analytics, explore our complementary article, ‘The Use And Benefits Of Low-Code No-Code Development In Business Intelligence (BI) And Predictive Analytics Solutions.’

‘Analytics with business intelligence and low code no code go hand-in-hand. The solution you choose can and should include both standard BI tools and sophisticated augmented analytics.’

Contact Us to find out how no code data analytics and the low code approach for business analytics can support your needs. Our Business Intelligence And Augmented Analytics solution can help your business achieve objectives. Read this free article to discover the potential of no code business intelligence software and LCNC And AI In Predictive Analytics, explore  our seamless Analytics Solution Technology. Download A Free Trial Of Smarten Analytics Software.

For a detailed discussion of Low-Code/No-Code in Analytics, explore our complementary article, ‘The Use And Benefits Of Low-Code No-Code Development In Business Intelligence (BI) And Predictive Analytics Solutions,’ ‘What Is LCNC And How Does It Change The Analytics Market?’, ‘Choose The Right LCNC BI Tools And Predictive Analytics,’ and ‘LCNC Benefits Teams, Business Users And Citizen Data Scientists.’

Original Post: Enhance BI Tools and Analytics with Low-Code, No-Code Development!

Low-Code and No-Code Development in Analytics!

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January 6, 2025

Using LCNC in Augmented Analytics

Low-Code Development and No-Code Development have been getting a lot of press in technology publications and conferences of late. If you are interested in finding out more about this topic, and about how low-code, no-code (LCNC) can be used to enhance analytics and change the approach of the self-serve, augmented analytics market, this article will provide you with a primer.

‘Including the LCNC approach in BI and analytics tools can and will support the enterprise as it moves forward, and can provide advantages and support for the future.’

Let’s begin with a Definition Of Low Code And No Code, and a discussion of the difference between Low Code And No Code Development.

What is Low-Code, No-Code Development and How Is It Used in the Analytics Market?

 

Low-Code Development

Low-Code Development allows programmers and developers to quickly and easily create applications using tools that simplify the development process with drag and drop components that enable the team to add features without writing code ‘from scratch.’ This visual development approach uses a graphical user interface (GUI) to support programmers as they build applications. To understand how this benefits the development team and the business, it is important to understand how low code platform works. By enabling swift development and mitigating the use of complex code, developers can easily add features to keep pace with the market and customer needs, so upgrades and iterations are fast and easy. The low-code platform is easy to integrate with existing systems, so it will support users of popular and familiar solutions with new features that are easy to use.

No-Code Development

No-Code Development requires no coding and is used to create simple, basic applications that can be quickly deployed and upgraded. The no code environment uses a graphical user interface (GUI) that is user-friendly and easy for developers to navigate. It supports developer productivity with easy-to-use tools and is less expensive than the typical software development approach, and it is easy to customize, though it is not scalable for complex application development and will produce only limited functionality. The no-code platform is fast and easy to use and provides an additional set of tools and an approach that will support programmer productivity and get products and upgrades to market quickly.

When considering the difference between low code and no code development, here is the bottom line:

Low-Code solutions use visual development environments and automated links to back-end systems, databases, web services and APIs.

No-Code solutions utilize visual drag-and-drop interfaces and require no coding, but rather are configured and implemented quickly, using the skilled application of tools and techniques.

The top low-code platforms are easy for developers to learn and the no-code environments have a library of pre-built components from which the team can choose.

World-renowned technology research firm, Gartner, predicts that low-code development tools will account for 75% of new application development by 2026. This prediction is primarily based on what Gartner perceives as increasing pressure for businesses to adapt quickly to market and competitive trends and changes.

The global technology research firm, Forrester highlights the complexity of existing technology environs, and the importance of supporting the business with agile, adaptable tools and workforce and suggests that low-code/no-code development allows organizations to accelerate innovation and increase business agility and sustainability.

Given the recent elevated status of low-code no-code in development and low-code no-code tools, it is important to consider whether the market has responded by adopting these techniques.

According to SlashData the use of LCNC has increased from 46% to 57% over a period of eighteen (18) months, with the usage of LCNC tools estimated at:

70% Data Science

66% Machine Learning

75% Embedded Software

69% Apps and Extensions for 3rd party ecosystems

58% Mobile Apps

Many businesses have employed LCNC to step up their competitive positioning and create and innovate quickly. Examples Of Low Code And No Code Business Innovation Include Amazon, Google, Apple, Akkio, DataRobot, and Microsoft.

When we consider the use of LCNC in business intelligence (BI) tools and predictive analytics, the reason for the uptick in usage among developers and IT professionals is quite clear.

As businesses embrace data democratization and recognize the need for data literacy among team members, and as enterprises launch Citizen Data Scientist initiatives, they face numerous obstacles and challenges, including the selection of an intuitive, self-serve BI and augmented analytics solution. Finding and choosing the right solution will drive willing user adoption, improved Return on Investment (ROI) and low Total Cost of Ownership (TCO).

But the selection of the right BI and analytics solution must also include considerations for sustainability, keeping pace with team, customer and market trends and changing behaviors, and ensuring that the technology investment will serve the organization in the long term.

Including the LCNC approach in BI and analytics tools can and will support the enterprise as it moves forward, and can provide advantages and support for the future.

For a more detailed discussion of Low-Code/No-Code in Analytics, explore our complementary article, ‘The Use And Benefits Of Low-Code No-Code Development In Business Intelligence (BI) And Predictive Analytics Solutions.’

Including the LCNC approach in BI and analytics tools can and will support the enterprise as it moves forward, and can provide advantages and support for the future.’

Contact Us to find out how no code data analytics and the low code approach for business analytics can support your needs. Our Business Intelligence And Augmented Analytics solution can help your business achieve objectives. Read this free article to discover the potential of no code business intelligence software and LCNC And AI In Predictive Analytics, explore our seamless Analytics Solution Technology.
Download A Free Trial Of Smarten Analytics Software.

For a detailed discussion of Low-Code/No-Code in Analytics, explore our complementary article, ‘The Use And Benefits Of Low-Code No-Code Development in Business Intelligence (BI) and Predictive Analytics Solutions,’ ‘How Does LCNC Enhance BI and Predictive Analytics,’ ‘Choose the Right LCNC BI Tools and Predictive Analytics,’ and ‘LCNC Benefits Teams, Business Users and Citizen Data Scientists.’

Original Post: Low-Code and No-Code Development in Analytics!

Give Your Business Users Assisted Predictive Analytics!

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July 30, 2024

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.

Leverage Predictive Analytics for Every Business User

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!