Advanced business analytics is a comprehensive combination of tools, software and expert knowledge. It is used for creating data visualisation and adjusting data to individual needs of a company in order to provide constant access to valuable information. These tools are used to unleash the knowledge potential of the person who uses them.
For several years, business analytics has been number one on the list of technological priorities of companies.
At present, advanced analytics already constitute the foundation of the business. Why is it like that? Because, we can make the best decisions thanks to the analysis of many different scenarios and their wide spectrum of impact on various aspects of our business. Business is the art of making the right decisions. To meet this, there are needed:
- the ability to select key information for the company from the ocean of available data,
- speed of action,
- the ability to immediately adapt to changes.
The right purchasing decision, a well-chosen margin or focusing on products that customers currently need most ensure success on the market. A skillfully selected strategy and the decision taken at the right time allow you to be a market leader. To reach and maintain this level, analytics is enough for us – we can optimize processes, maximize profits and minimize costs.
Wanting to be always one step ahead of others, wanting to stay ahead of the competition, you need to apply advanced analytics to your daily processes. Only thanks to such strategy decisions will not be based only on what is current. Entering a higher level, we should start forecasting trends, discover patterns and anomalies, and identify variables to ultimately predict customer behaviour automatically, accelerating the analysis process, and taking into account a much larger number of factors.
Advanced Analytics covers such techniques as:
The process of data analysis is also supported by AI – Artificial Intelligence. This technology “mimics” human activities through learning, finding solutions or understanding complex content. AI proves perfect any time when an analysis of large amounts, quickly changing data is required.
An example here can be random processes that cannot be predicted in a simple way. In such cases having a much larger number of new elements, the changes are not subject to pre-established plans. Only carrying out hundreds or thousands of simulations gives you the opportunity to evaluate changes and verify the solutions obtained before they are implemented into the process.
In the era of AI, companies and countries that will quickly cope with changes related to the implementation of artificial intelligence and machine learning will cope best. The reason is simple, AI will be useful wherever human intelligence is useful – helping us be more productive in every area of human activity.
At EBIS, we support the Microsoft approach, i.e. work on the democratization of AI. As in the case of computers, artificial intelligence aims to create basic components available to every user and organization. Thanks to this, our clients in cooperation with us can build their own solutions based on the achievements of artificial intelligence. The winners will be those who will be the first to take action, taking on the market a new role not just observers but co-creators and pioneers of change.
How can your company benefit from AI and Advanced Analytics?
The AI and advanced data analysis tools used by EBIS allow for predicting future events and behaviours. Our analyses will help you to answer questions like “what happens when”. This is very valuable information, which is particularly useful in predicting effects of potential changes in business strategies.
Implementation of tools in the field of AI and advanced data analytics are measurable benefits for the company:
- customer segmentation, better understanding and relationship building,
- accuracy of investing capital, which translates into saving money,
- fraud detection and customer migration analysis,
- the use of previously unused data resources,
- cart analysis and demand prediction,
- forecasting company results.
However, everyday life shows how difficult a task it is to run data-driven activities. Thanks to our experience, you don’t have to be afraid of barriers and challenges that stand in the way of your goal – we walk all the way together leading your company step by step, sharing our best practices.
Regardless of the size of your company, modern, advanced analytics will allow you to implement new business models and, consequently, offer innovative services to your clients.