Business Intelligence

Business Intelligence, Data Governance, Data Marketing, Data Mining and Data Integration, L'entreprise, Machine Learning

Etre Data-Driven à l’ère de l’incertitude // S2E1

Les entreprises font face à plus d’incertitude aujourd’hui qu’elles ne le font depuis des décennies. Prendre des décisions pendant une pandémie mondiale semble risqué et inconfortable. Tout le monde a une opinion sur ce qu’il faut faire ensuite. Mais au final, il ne s’agit que d’opinions et d’hypothèses et non de faits éclairés pouvant aider à naviguer dans ces temps difficiles et préparer le « monde d’après ».

Comment pouvez-vous prendre des décisions « sans regret » aujourd’hui dans ce cas ?

Il y a évidemment différentes stratégies, adaptées aux situations, métiers de chaque organisation et à leur contexte. Toutefois, au-delà de l’exécution et du chemin précis à prendre, il est clair qu’un élément central permettra de différencier ceux qui s’en sortirons mieux que leurs compétiteurs : LA DONNEE !

Dans cette série d’articles, nous allons approfondir ce qui rend les organisations Data-Driven mieux équipées pour survivre à la crise actuelle et mieux armées pour repartir et prospérer dans le « monde d’après ».

Episode 1 : L’organisation Data-Driven et la gestion du risque et de l’incertitude

Le principe est clair : les données nous donnent une idée claire de l’environnement de notre organisation (passée et future – grâce à l’analyse prédictive) et nous aide à déployer stratégiquement notre temps et nos ressources le plus efficacement possible pour faire le meilleur travail possible dans les mois à venir. Les organisations qui mettent en place des plateformes performantes d’analyse de données (incluant les aspects organisationnels et culturels comme on l’a vu dans la série précédente sur la Data Governance) obtiennent deux avantages compétitifs majeurs.

• Les organisations Data - Driven sont moins dans l’incertitude

L’incertitude pour toute entreprise coûte cher. C’est pourquoi il est essentiel de pouvoir gérer ce niveau d’incertitude pour la croissance et les gains économiques de toute entreprise. L’analyse des données joue un rôle important dans la réduction de cette incertitude en reconfigurant l’inconnu en probabilités petites, contraintes et bien articulées. Ces informations peuvent aider à dissiper certaines ambiguïtés auxquelles de nombreuses entreprises sont confrontées et leur permettent d’optimiser l’allocation de leurs ressources, d’appliquer leurs efforts plus efficacement et de mieux gérer ce qui s’en vient.

• Les organisations Data - Driven sont capables de s’adapter plus rapidement

Avec la mise en œuvre d’une plateforme analytique en phase avec la stratégie d’entreprise, des méthodes de travail adaptées de chaque acteur de la chaîne de décision, on obtient donc une vue précise de notre environnement.

Les données qui seront transformées en information servent de signaux pour atténuer les risques d’une situation en constante évolution. L’organisation, les processus et les rôles correctement définis permettent que les décisions adéquates soient prises rapidement et que les actions qui en découlent soient exécutées rapidement et conformément aux évolutions de l’environnement de l’organisation. Plus de « doigt mouillé», les décisions sont éclairées par des faits validés par les données.

Concrètement, les données aideront votre organisation à améliorer :

Prise de recul

LES AVANTAGES

• Les stratégies marketing: découvrez les stratégies de marketing qui permettent de réduire les coûts et de faire croître l'entreprise dans son ensemble.
• Les produits: découvrez comment l'entreprise peut ajouter de la valeur à ses produits.
• La connaissance de ses clients: découvrez comment l'entreprise peut aider à développer sa marque et à améliorer les perceptions de ses clients.
• La croissance: découvrez comment l'entreprise peut pénétrer des marchés inexploités ou fournir à l'entreprise un degré de certitude plus élevé.
• Les politiques de tarification / coûts: découvrez comment l'entreprise peut développer de meilleures stratégies de tarification et optimiser ses structures de coûts en découvrant les coûts inutiles de l'entreprise.

Dans le prochain épisode, nous nous concentrerons sur l’un de ces avantages en évoquant la question suivante:

« Etre DATA DRIVEN, qu’est-ce que cela signifie réellement? »

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Business Intelligence

Talk on The Era of Smart Data

2nd of May , The team participated in a talk on the era of smart data organised by the MIOD Fellows Networking Event. Great night exchanging ideas on data analytics , the future of BI and the tools needed to move forward with data strategy.

The Team ready to kick off the talks on data!

Business Intelligence

Did You Know?? Real-time Intelligence = Value

Do you know how easily your organization’s business intelligence can turn into a lost opportunity? Well, it is just a matter of TIME. Intelligence is of value if, and only if it arrives on time.

In today’s hyper-competitive market environment, business intelligence continues to be an area of investment and interest for businesses. The ability to turn raw data into meaningful and useful information that can impact business performance is a powerful value proposition.

Despite the emergence of new devices and software products designed to unite employees in more ways than ever before, the threat of organizational silos is still very real.

Lack of collaboration between individuals and teams in different departments working on similar assignments and projects could ultimately lead to inefficiencies and loss of productivity.

The best-case scenario for this duplication of data analysis is that teams come up with the same result. When individuals or teams produce different numbers this cause disagreements about who had analyzed the ‘correct’ data and which can be fully trusted.

In the grand scale of things, this distorted view of data can be devastating, but there are even more ways that data silos can put your business in danger.

Keeping a pulse on business’ sales, marketing, finances, web analytics, customer service, internal R&D, IT, and more as isolated sources of data will never give a complete picture.

The scary truth is big data doesn’t lead to big insights if you can’t bring it together.

Yet many businesses are only scratching the surface of what’s possible with business intelligence.

To realize the potential of business intelligence and take its value to the next level in your organization, you need a solid understanding of where you are, what you want to achieve, and what’s possible.

From generating reports and charts that depict business performance, to implementing a truly transformative solution that uses powerful advanced analytics to not only predict behaviors and outcomes but to prescribe  recommended courses of actions, business intelligence can be a strategic weapon that significantly impacts your bottom-line.

The next breakthroughs in business intelligence (BI) and analytics will see machine learning and artificial intelligence used to improve data access and data quality, uncover previously hidden insights, suggest analyses, deliver predictive analytics and suggest actions.

BI and analytics vendors are developing “smart” capabilities that will power the next step beyond self-service analytics, helping to further democratize data analysis for business users.

The benefits of business intelligence tools far outweigh the investments they entail. They can help businesses gain valuable insights to affect growth, resolve urgent concerns, collate marketing data more quickly, provide a real-time view of the organization and allow for the anticipation of future outcome using predictive and prescriptive analytics and forecasting.

Business Intelligence

Smart City, Smart People, Smart Data

Smart City, Smart People, Smart Data

Creating a smart city is based on concepts of innovation, technology, sustainability and accessibility ensuring economic progress as well as a higher quality of life. This is opening an infinite number of opportunities to become more efficient in both public and private management. It means that  both the public sector, as well as the private (all types of business)  sector have to be prepared to express their ambitions collaboratively about what they want to achieve in the future. 

Democratisation of technology has meant that people are much more demanding, informed, über-connected and multi-channel. With the advent of new technologies in particular Internet of things, new business models are emerging to  build solutions that increase or improve  the citizens’ quality of life. from optimising public transport routes to using smart garbage bins to track litter habits.

Whilst the deployment  of smart cities involve several innovative technologies to facilitate sustainable urban spaces, the concept is still vague and open.  The ‘smart’ capabilities need to be operational and measurable. In order to evaluate how ‘smart’ is a smart city, robust data management and analysis is required.

This entails very close collaboration between both public and private sectors to share and analyse the vast amount of data being generated by new technologies. There are a billion places to gather data, and more tools are coming to market to help collect as much of it as possible.

The ability to share vital information in real time would enable businesses operating both in the private and public sector to develop powerful hardware systems  and software solutions;  that not only support automation but provide the ‘smart’ capabilities of a city and its infrastructure. Today, there’s an assortment of technologies being used to handle various characteristics, such as high volume, data location, and a variety of data source types. The collection of crucial data from any kind of source, such as the own city’s sensors, participatory sensing (for instance, sensors integrated in citizens’ smartphones), would enable the compilation of information about people and vehicle traffic, parking, environmental values, waste generated, energy consumption and healthcare etc.  for the smart functioning of the city’s basic services.

It’s easier said than done one is tempted to say. Whatever the hype, whether artificial intelligence, machine learning or automation, it must start with data. Data is vital for smart cities technology.

First and foremost sound and mature data management practices  need to be in place. Technology alone is not sufficient to build a smart city. Competent human intelligence is also part of the equation to complete this:  Employees need to be comfortable analyzing and making decisions with data. Not only should the data analytics platform be robust, the team’s responsible for it must have a good mix of skills. The tecchies and fuzzies of this world will drive the vision of the Smart City not the traditional analysts.

“Finding solutions to our greatest problems requires an understanding of human context as well as of code; it requires both ethics and data, both deep thinking people and Deep Learning AI, both human and machine; it requires us to question implicit biases in our algorithms and inquire deeply into not just how we build, but why we build and what we seek to improve.” * (Scot Harley )

The essential question in the continuously growing amount of data volumes is how to make practical use of these volumes and without analytics, interpretation and algorithms it just isn’t possible. Advanced analytics has emerged as a critical component of modern analytics architecture, with companies turning to statistics, predictive algorithms, and machine learning to maximize the value of very large data sets. Without having to examine every dimension and variation in the data manually, people are automatically guided to relevant insights and alerted to data points that are worth exploring. The use of AI-driven smart data for customer analysis, fraud detection, market analysis, and compliance is becoming a reality to uncover insights hidden in data.

Investing in a strong modern analytics platform leverages the partnership between Business and  IT . When business users are given tools to analyze data on their own, they are free to answer questions on the fly, knowing they can trust the data itself. This leads to accurate, agile reports and dashboards and one single version of truth. And IT, free from dashboard and change requests, can finally prioritize the data itself: safeguarding data governance and security, ensuring data accuracy, and establishing the most efficient pipelines for collecting, processing, and storing data.

Adapting to a scenario that is extremely technologically, economically and socially dynamic is the lynchpin of  development and helps to drive smart systems geared towards improving integration and interaction of the smart citizen.

When data is approached intelligently to generate insights into how the  tech systems are performing it is only then that efficiencies and savings could be measured across all strategic elements of Smart Cities -enterprise competitiveness, mobility, urbanism, energy, water, waste recycling, security, culture and healthcare.

Business Intelligence

Key Benefits Of Tableau Software In The Retail Sector

 

Tableau helps people see and understand their retail data no matter how big it is, or how many systems it is stored in. Quickly connect, analyze, and share insights to reveal hidden opportunities that impact each sale, and your entire organization. With a seamless experience across PC, tablet, and smartphone, ask and answer deeper operational questions with expressive, interactive dashboards—no programming skills required.

 

Key Benefits of Tableau in the Retail Sector:

Product Availability

Tableau can help retailers  to solve the problem of having the correct product, at correct inventory levels, in the correct stories. By analyzing product availability by category, supplier, day, and store region, retailers can identify gaps in efficiency and interactively drill into the details.

Promotional Optimization

More than half of all retail sales are made during promotions, so it’s important to be able to visualize data during each phase – pre-promotion, the promotional period itself, and post-promotion. Tableau helps you create dashboards showing  exactly what’s happening throughout the promotional cycle so they can prepare for availability issues by highlighting potential inventory stock shortages.

Store Operations

Store operations dashboards can provide rich insights to the corporate office, and region/ store managers about performance and execution. With store operations dashboards, managers are able to better benchmark the performance of stores in a region against metrics like Sales, Year Over Year growth, Traffic, Average Transaction Value and Units Per Transaction. They can also drill down to unique store level operations data like weekday vs weekend sales, product department performance, compare space productivity within the store and evaluate top selling brands.

Merchandising Assortment

Category managers need to make profitable decisions around products that customers are demanding. In order to do that, merchandisers need to quickly analyze demand data by sales and profit margin performance by departments, sub-categories and brands. With merchandising assortment dashboards, managers can gain a quick overview of relative sales performance of sub-categories, share of private label and national brands, and categories that can contribute up to 80% of sales. They can also get richer insights on the attributes that lead to higher conversion such as product type, colors, shape, and styles.

Brand Health

For most consumer product goods companies, brand perception is critical to the success of their business. Executives at large CPG companies need insights into how consumers perceive the company brand, for the benefit of derived utility and price.

A brand health dashboard can show the benefit vs price effect by deep diving at the sub brand level . Combining this with profitability and price elasticity of the brand, executives can decide on allocation of additional marketing dollars to gain Category leadership for these brands and push the benefit perception higher for higher profitability brands.

Happy to have a chat with you to share ideas, discuss opportunities or even prepare a demo for you . Contact us on info@businesslab.mu.