Business Intelligence has slowly infiltrated many sectors in the modern world, from helping small business owners scale growth to conglomerates predicting trends. BI has become a critical tool for management in guiding decision making. The hospitality sector too isn’t left out. You may wonder how much data does the hospitality industry generate. The amount is more than what you think.
The McKinsey Global Institute recent Datamatics report indicates Organisations that are Data driven are 23 times more likely to acquire customers, at least six times as likely to retain those customers, and assuredly 19 times likely to be profitable as a result. This statement above is enough reason to pause and critically think about your organization’s next move especially if it has no Data analytics culture. It’s imperative to understand owning a Data warehouse does not constitute to having a Data analytics culture, it only means you have cleaned your data and housed it. The question you should be asking yourself is what you are doing with all that housed Data. How is it helping your organisation to scale? This is where a data analytic culture comes in.
It’s practically a mobile first world now, and operating your business in this era should not mean viewing reports only from your device, you should desire Mobile BI. Growing your business in this mobile-first era, means getting business intelligence truly mobile. Employees are always on the go, so they need business data such as inventory, records and spreadsheets at their fingertips at any hour on any given day, most top management need real time insights to enable quick informed decisions.
Artificial Intelligence (AI) has grown steadily over the years from its humble Academic inclusion in 1956 to its modern applications in Self Driving Tesla’s. Its growth has lead to its applications in various fields and industry. An example is AI in Healthcare, by using algorithms and software to approximate human cognition in the analysis of complex medical data. This trend has lead Business Intelligence experts to explore a possible marriage between AI and BI which I want to explore in the post.
These days SMB’s are getting ahead thanks to the emergence of big data. With business intelligence (BI) tools and software, small companies and organizations have a way of achieving success rates previously only thought possible for big corporations. Ultimately, it comes down to how well SMBs use the acquired data. Here are a few things they are doing with big data and insights in a way that yields positive gains.
Qlik Sense and Qlikview are two Products from the same stable with slightly different DNA. Qlik has seen their valuation top $2 billion and Qlik Sense is growing phenomenally to help boost the company's revenues even further. Lets take a look at both side by side.
Dealing with Data about their prospects, Customers, internal business processes, suppliers, partners and competitors has become the norm of Enterprises. Transforming this Data into actionable insights to increase efficiency, and profits is making organizations turn to BI tools. The BI tool market is mature but still constantly evolving to meet the ever-changing analytical needs of Organizations. How do I choose what tool to suit my organization you may wonder? You should determine which tool enables the types of analysis your users need and will use. Some tools are great at drilling down data and terrible at Visuals others just have fantastic dashboards but rely on another tool for its Data. If you consider the traits below you will have no problems with choosing the right tool for your BI needs
The Elections are here and gone, whether you like the results or not is no longer important. The data generated from this election is important to both major US parties for the next elections. They are still collating all the Data to hel them win in 2020.
The growth of internet of things (IOT) It has taken over two decades for the ‘concept’ of the Internet of Things to become a reality that will impact many areas of business and society. Yet, it will take several more years before it is a daily reality in all possible areas, for numerous reasons. At the same time, among others driven by new connectivity solutions and the cloud, as well as other 3rd platform technologies, the number of IOT applications and the number of connected devices are both accelerating. Add to that viable business models, technologies designed to leverage IOT-generated data fast and it’s clear that the Internet of Things is evolving fast and has found fertile ground to be leveraged in valuable ways.