Data Analytics And Visualization For Data-Driven Insights By EbizframeBI

Every enterprise has a critical need to analyze data and make informed decisions in business. Data analytics is the process of using data, algorithms, and logic to provide insight into human behavior and company performance. Business Intelligence (BI) software solution is one of the best ways organizations can use for data analytics and obtain actionable insights into their business. BI dashboards provide accurate data with compelling visualizations to illustrate your business story. It helps companies appear stronger in front of their customers, partners, and investors by identifying trends, opportunities, and risks at the right time.

Enabled with Power BI dashboards and reports capabilities-ebizframeBI offers advanced features to create self-service BI dashboards, reports, datasets, and visualizations easily and quickly. It is recognized as one of the best ERP solutions integrated with Power BI in India. With this software, you can connect with many different data sources like social media, websites, enterprise systems, etc., combine and shape data from those connections, then create reports and dashboards that can be shared with others.

Importance of Data Analytics And Data Visualization for a Business

A company's success depends on how well it can analyze its customer base, products, markets, business processes, and other relevant areas. However, most companies don't have the resources required to conduct a proper business analysis since this is a complex process that requires a lot of time and expertise. Hence, the importance of data analytics and data visualization tool for a business is undeniable across industries.

For example, consider customers visiting your website and filling their cart but not purchasing anything. The customer experience analytics from Business Intelligence can help you identify the causes of shopping cart abandonment which may be a long checkout process or unexpected delivery times. Once you know the reason, you can improve the identified area for a better shopping experience and increase sales.

Let’s Look At Other Aspects Of BI Benefits For A Business:

• Instant presentation of large and complex data in dynamic visualization and reports
• Enables faster decision-making and users to glean far better insights about patterns and trends
• Multiple stakeholders can view that enables communication and collaboration effectively
• Spot relationships and correlation among several data sets
• Increase transparency of the processes

How To Use BI Data Analytics And Visualization To Make Strategic Business Decisions?

Better business decisions happen when business, data and analytics, and cross-functional department leaders work together.

Any enterprise needs foundational data analytics techniques to make decisions. Access to data is more common than ever today. If you formulate strategies and make decisions without accessing and analyzing the data you have access to, you could miss major opportunities or risks that it communicates.

Professionals who can use BI tools include:

Nearly everyone from top management to front-line business users across industries can get potential benefits from using BI tools. Here are some examples of professionals using BI data analytics and visualization in a company.

Top Management uses BI to make the organization more efficient, competent, reduce costs, and enable growth. They can check KPIs and periodic management reports anytime they need through the BI system.

Marketers use customer data, market trends, competition, and performance data from past campaigns to customize their offerings.

Product managers analyze the market, industry, and user data to customize their companies’ products.

Finance professionals use historical performance data, and industry trends to evaluate and predict their companies’ financial health.

Human resources gain insights into employees’ opinions, motivations, and behaviors and couple it with industry trend data to bring new changes within their organizations.

BI lets Procurement professionals easily monitor and analyze cost, quality, and delivery performance by the suppliers in real-time. With easy access and data-driven decision-making, they can choose the suppliers that benefit their business most.

These are some examples of BI users who leverage BI applications for making decisions. There are many more uses of BI analytics depending on various industries and geographies.

To get the best business insights from your data, and to gain the advantages from your BI analytics and visualization, you need a recognized BI services company - ESS. Contact our BI experts marketing@essindia.com to know more.

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