Every business organization, regardless of its size, commercial sector, or number of employees, can benefit from properly organized and coordinated data. It’s no secret that access to reliable data can be leveraged to improve efficiency, simplify the decision-making process, and identify obstacles that are getting in the way of success.
However, not every company has a single, unified data tool that can organize and analyze data. According to the tenth anniversary edition of Dresner Advisory Services’ Wisdom of Crowds® Business Intelligence Market Study, more than half of the businesses surveyed expressed their intention to raise their business intelligence budgets in 2020.
Adopting a holistic data management tool can dramatically improve a company’s performance, but only if it is implemented in the right way. In her recent white paper for Dimensional Insight, Jennifer Bresnick explores four of the major challenges that companies usually face when it comes to business intelligence, and how best to overcome them. (more…)
A common theme for organizations that successfully use data is the fact that everyone in the organization is on board with the approach to data. This can be difficult when faced with employees who might be set in their ways or who think they don’t have a handle on the data.
But if your organization is committed to using analytics, these are hurdles that need to be overcome. Here are five ways that you can improve data literacy in your organization. (more…)
By definition, data visualization is about showing information in a visual format. People often get overwhelmed when they see numbers on a spreadsheet or as text in a document.
Data visualization can do more than just show the information. It can contextualize the data and make it easier to understand. Businesspeople often ask themselves, “Why is data visualization important?” Some may even decide it’s not worth pursuing.
However, when done well, data visualization can unlock benefits that may be hard or impossible to achieve otherwise. Here are five things people can do to maximize the worthiness of data visualization. (more…)
Every single day, a variety of issues from around the world appear on the news, on social media, and in our day-to-day conversations. But there is one particular issue that has recently been put into the spotlight: Climate change.
While the dangers of climate change have been an ongoing issue for some time now, people worldwide are fighting to save the environment now more than ever. Data may be able to help work towards a solution. Let’s examine a few ways:
3D printing has become a hot topic in recent years, and is being used in a variety of industries such as healthcare, engineering, architecture, and more. However, there is one key tool that 3D printing relies on that could make or break its future: big data.
Without the existence of this advanced data, some of the functions used in 3D printing would not be possible. But how do big data and 3D printing work together? Let’s examine. (more…)
Many economists say we are overdue for a recession. Despite a low unemployment rate and the economy’s longest expansion on record in the United States, experts in America and the World Bank point to trade wars and other globally financially risky situations as reasons for a dim forecast.
Analytics may not be able to tell you exactly when the economy might shift. However, data can certainly help an organization mitigate the impact of a recession by giving you the right information to better target the right market, save money, and increase profits. (more…)
Everyone has his or her unique way of analyzing data to find the right answers. This is why self-service in a business intelligence tool is so important. It’s also why drag-and-drop dashboards are so appealing. I am not stuck with what someone else decided is a good way to look at the data. I can focus on what is important to me. Still, in the end, I need to share my findings with other people in a way they like if I want to get my point across.
Dimensional Insight’s “Stamps” are pre-designed charts that can be updated with different data and filters with a few clicks. Users can build dashboards in minutes. Let’s examine a hypothetical scenario to see how you can use these Stamps to optimize your analytics experience. (more…)
Data analytics is no longer a trend – it is a necessity for organizations to stay relevant in their fields. Big data has been sweeping across every industry, from healthcare to the food and beverage industries, and it has been making analytics skills more and more necessary in every industry it touches.
Data analytics is a segment sure to showcase many fascinating developments in the new year. As businesses harness the power of data analytics, 2020 use cases are both varied and compelling.
Here are five outstanding examples: (more…)
As we look back at 2019, we reflect on some of the trends and topics that shape the industries we work in. In healthcare, price transparency and the measles outbreak were hot-button issues. In wine and spirits, new trends like enotourism and DTC sales piqued the interest of people in the industry.
These issues and others made our annual Top 10 list of most-read articles on the blog. Let’s take a look at the topics most popular with our readers this past year. (more…)
It was not long ago that companies and organizations had to rely on their “gut instincts” and often unreliable data to make decisions big and small.
Now, with the advancement of applications such as big data and business intelligence, companies can incorporate a data-driven culture, optimizing their success in multiple areas. But what does it really mean to be “data-driven?” Let’s examine. (more…)