Data Analytics & Business Intelligence
The term “Business Intelligence” has been traditionally used to include a variety of inputs like Trends, Forecasts, Risks & Opportunities which conjugately serves as information to run any businesses in a better way. These inputs or intelligence is effectively used to solve complex and unique Business Problems which ultimately enhances profitability.
However, in last few years, with the field of Data Analytics and Machine Learning gaining major inroads in the world of Business, this traditional concept has now evolved into an umbrella term called Business Analytics which includes many related fields like Predictive Analytics, Risk Management, Marketing Analytics etc. Data Analytics (the core activity for deriving Business Intelligence) now encompasses the entire chain of activities related to Data Discovery & Acquisition, Data Transformation, Data Visualization and Predictive analysis so as to generate actionable information for further Business development.
Business Analytics or Business Intelligence helps companies to identify & target the most profitable customer and thus allow them to justify their marketing effort, especially in a highly competitive business environment. There is significant evidence from the corporate world that the ability to make better decisions improves with analytical skills by nearly 50%.On the flip side, more than 59% of organizations who are not performing well, lack information required for decision making. This exhibits a striking correlation between an organization’s analytics sophistication and its competitive performance.
Rakshak Technology offers innovative solutions for complex Business problems to sustain Business Development. We use Data Analytics (and Predictive Analytics) to processes and analyze data from various (including Big Data) sources so as to improve business performance through fact-based decision-making. Our solutions have created high performance capabilities for our esteemed clients to compete in the market effectively. Limited ability of the human mind to process & analyze complex data patterns are now being mitigated by the effective use of Machine Learning. Innovative solutions are being formulated for resolving critical business problem of modern times. Hence, its increasingly becoming evident that Data Analytics Process enhances the probability to correctly predict future business prospects and ensures correct business decisions.
Although, Enterprise Resource Planning (ERP) systems and Customer Relation Management (CRM) systems have ensured availability of data in many organizations; but to effectively garner substantial Return of Investment on these high end infrastructure, partnering with a proven Data Analytics Provider is critical and detrimental to the future of any business venture, small or big alike.