Analytics and the Need for Speed

Organizations today are expected to fully utilize their data to speed decisions and drive business value. Modern analytics can help.

If your people have access to the right data insights, they can make faster, more informed decisions – and have a bigger impact on the bottom line.

Let’s look at three ways modern data analytics elevates insights, enabling users to quickly find the answers they need and take action.

Beyond Traditional BI

Traditional BI is based on preconfigured, curated data sets. The idea is to look back at what happened to inform new decisions.

Consider a business manager with a sales question: “How did our last campaign impact sales within each region?” The manager submits the question to a data analyst, who creates a query for the analytical software. Days later, the analyst returns a response in the form of a static report.

Analyzing historical data has its place, but it isn’t timely. Organizations have to know what’s happening in the moment. The right platform provides real-time analytics and insights based on real-time data .

Machines that Empower Humans

Machines offer analytical and data processing capability, while people have the advantage of creativity and non-linear thinking. Augmented analytics leverages both sides – integrating AI and machine learning with data analytics to amplify human thinking.

The human-machine partnership creates a multiplier effect, where business questions can be resolved with a human’s perspective, aided by automated insight suggestions.

With augmented analytics, people can explore data from different angles, see new patterns, discover unexpected connections, even explore what-if scenarios. Conversational, search-based analysis also help them navigate data by asking real-life questions. No data expertise required.

Embedded Analytics

Embedded analytics integrates analytic capabilities into everyday business apps, portals and websites. This way, users have direct access to relevant data insights, dashboards and workflows right where they are, without the need to jump over to another application.

Consider how it might improve retail operations. A business could embed analytics into its inventory management software. Store managers could then analyze which items are in demand and use the business insights to determine what to stock up on or de-prioritize. Analytics could also be embedded into the retailer’s fleet management software to anticipate, predict and more effectively manage delivery times.

Speeding Insights with Qlik

Qlik provides technology to bring actionable data into business decisions. We offer modern, augmented analytics to help everyone investigate real-time data, speed insights, work smarter and perform essential tasks more efficiently. The better to drive value and move the business forward.

To find out more about these and other ways to accelerate business insights, download the eBook here.

Analyzing historical data has its place, but it isn’t timely. Organizations have to know what’s happening in the moment.