Get a data-driven insight into your business
Business Analytics is a data-driven insight into the company's situation that focuses on:
So, it is about gaining a new business understanding, both for the top management and the individual employee, based on data and statistical methods whereas Business Intelligence focuses more on the historical performance.
The right approach to building a Data Warehouse, Business Intelligence, Performance Management, or Advanced Analytics solution is based on collaboration and consultation regarding your needs, understanding how projects are tailored to the individual organization, sound craftsmanship, and a best-practice approach that, as a customer, you can take over and develop further.
Business Analytics is not a project; it is a journey with continuous development, and we have the expertise to work with you all along the way.
Business Analytics is the caption of a wide range of competencies, processes, and techniques that will provide your company with an overview as well as detailed information about the historic performance and correlations between factors in order to drive the future business in the desired direction.
At twoday kapacity, we can help you all along the way from the strategy to anchoring. You can read more about our approach to Business Analytics Strategy here.
Depending on where your business is today in terms of converting data into insights, there are four value-creating areas that we would like to highlight:
Where to start and begin with Business Analytics? The following four areas are good examples of initiatives that create value and are an important foundation for further development:
The company’s central Data Warehouse is the foundation of the other Business Analytics disciplines. Once the Data Warehouse is in place, there is certainty for consistency in the data and business logic, performance in the queries as well as trust in a well-coordinated Business Analytics solution.
Highlighting the critical key ratios that are important for the company’s business strategy ensures that everyone is focused on what really makes a difference. You can concentrate on running the business because there is always an overview of developments, and critical fluctuations can be identified early. We work with dashboards, KPIs, and standard reporting, depending on the recipient group and the information area.
The opportunity for self-service, fixed analyses, and Data Mining are important disciplines in a well-functioning Business Analytics solution. It is decisive to have the option to uncover new, interesting data correlations that are not normally covered by standard dashboards or regular reporting.
In a lot of companies, budgeting and planning are manual processes that take a lot of time and involve many parts of the company. Using the data collected in the Central Data Warehouse ensures a faster start and an opportunity for a qualified, data-driven starting point for the company’s budgets that can then be adapted to the forward-looking plans. At the same time, a system-supported budgeting process will ensure that the collection of inputs from the different parts of the company can be performed seamlessly and with a clear overview of the applicable budget data.
Power BI is a series of Analytics tools for analyzing data and sharing insights.
The products are easy to get started with and are therefore particularly suitable for you who is about to start looking more closely at the company’s data. Power BI is free in personal editions.
You can read more about how Power BI can be used in a Business Analytics context on Microsoft Power BI’s blog.