During the past couple of years, organisations have invested a lot in data integration and reporting. In most of the cases this improved significantly the company governance. However, data gathering and reporting is not sufficient to be one step ahead from the competitors. Do your current reports give you enough insight about what will happen; that is, do they give you a view on the expectations and risks?
These are the questions in analytical value creation’s scope: create value by managing fast and cleverly the available data and take related actions. It’s critical for companies to develop their analytical capacity. Client behaviour and market development are better understood if the available data are analysed more precisely and wisely.
Analytics focuses on effective use of data to anticipate the results of business actions. Efficient data mining means looking up the links in the data, experimenting trials, and making forecasting analysis. When going faster, more rationally, with accuracy and fact based operations, companies can obtain huge advantages. Decision support tools, based on super-crunching techniques such as statistics and data mining, support the managers in improving organisations’’ performances. Some key topics are: customer and marketing analytics, web-analytics, defect analytics, spend analytics, fraud analytics and risk analytics.
Analytics supports the managerial decision process and makes people think in terms of value creation. With analytics you are able to demonstrate the business case of applying an analytical result in advance and validate afterwards. Analytics integrates statistical and data mining software with your business process systems, in alignment with your IT architecture.