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It can be used for all kinds of applications, from solving a business’s operational problems to improving its marketing strategy. Business data analysis used to be extremely expensive and impractical for all but the largest corporations. Fortunately, however, it’s become much more accessible, even for small businesses.
To be successful, sales professionals need to be experts in many different areas at once: their product’s strengths and weaknesses, their prospects’ pain points and needs, and the broader economic and competitivelandscapes. To give sellers a fighting chance, sales leaders need to build an effective, flexible sales enablement program.
Even when your business cost and costs of production aren’t growing exponentially, chances are everything around you is. Cost of living is rising; customer acquisition is more difficult than ever in such a competitivelandscape; and suppliers are looking to increase their profits by upcharging you, too.
It’s what the best performers do: According to Emerald , 90 percent of Fortune 500 companies use competitiveintelligence to gain an edge over their competitors. What is a CompetitiveAnalysis? Competitiveanalysis helps you maintain a competitive footing by deeply understanding a competing brand.
Or they may focus less exclusively on competitiveanalysis, instead providing businessintelligence, market intelligence, traditional market research or analysis of industry trends in addition to competitor intelligence.
Competitiveintelligenceanalysis helps businesses maintain or gain a strategic market advantage. LinkedIn, with its network of over 750 million users worldwide, is an indispensable competitiveintelligence tool, and no competitiveintelligence research is complete without it.
Consider the time and effort involved in the ‘old world’ of businessintelligence data preparation! By the time the data analysis was delivered, it was old, sometimes incomplete and perhaps delivered in a form that might be misinterpreted by its audience. So, what was the cost of data preparation and analysis?
Data Analysis for Business Supports Fact-Based Decisions! Businessintelligence and analytics are necessary tools for every business today. Data analysis for business need not be complex or restrictive.
of its BusinessIntelligence and Corporate Performance Management suite, which includes major features and enhancements. represents another step on the path to enhanced self-serve BI tools to support the transition of business users to collaborative power users with powerful Social BI capabilities.
This article presents a brief explanation of Outliers, and how this type of analysis is used. What is Outlier Analysis? How Can Outlier Detection Improve BusinessAnalysis? That focus will help the business to select the right method of analysis, graphing or plotting to reveal the results they need to see and understand.
Marketing campaign intelligence teams tend to be fairly lean, so you have to stay on point and be strategic about your competitiveintelligence activities. You can produce immense amounts of analysis, but if we don’t understand the end goal, there will not be value in those reports.
In this article, we will discuss the Decision Tree analysis method. What is Decision Tree Analysis? There are two basic types of decision tree analysis: Classification and Regression. Let’s take a closer look at an example of classification tree analysis. Use Case – 1. About Smarten.
This article explains the Karl Pearson Correlation method of analysis, and how it can be applied in business. In order to better understand the application of the Karl Pearson Correlation technique, let’s look at a sample analysis showing a positive correlation among data points. About Smarten.
ElegantJ BI, a leading vendor in BusinessIntelligence and Advanced Analytics solutions, is pleased to announce that it is listed for its suite in the Gartner ‘Other Vendors to Consider for Modern BI and Analytics’ report published August 4, 2017.
To accurately predict and plan, every enterprise must select a businessintelligence solution that will support their efforts and provide business users with a rich set of features and tools. Why and how might an enterprise use Plug n’ Play Predictive Analysis?
Businesses everywhere benefit from collecting the right data that drive strategic decision-making. This is where businessintelligence comes in. Here are a few key ways that the pipeline between businessintelligence and sales can help improve your decision-making and revenue.
This article looks at the ARIMAX Forecasting method of analysis and how it can be used for businessanalysis. For more information about data trend and pattern analysis techniques, read our article entitled, ‘ What Are Data Trends and Patterns, and How Do They Impact Business Decisions?’ About Smarten.
For more information about data trend and pattern analysis techniques, read our article entitled, ‘ What Are Data Trends and Patterns, and How Do They Impact Business Decisions?’ Let’s look at an example of a monthly analysis of monthly index values. This analysis also helps to balance supply and demand for the drug.
What is SVM Classification Analysis? SVM Classification Analysis can be used for many analytical tasks: Credit/Loan Approval Analysis – Given a list of client transactional attributes, a business can predict whether a client will default on a loan. How Can SVM Classification Analysis Benefit Business Analytics?
What is Multiple Linear Regression Analysis? To better understand multiple linear regression, let’s look at one such analysis of independent variables: Temperature and Humidity, and a target variable (yield). How Can Multiple Linear Regression Be Helpful for BusinessAnalysis? Use Case – 1. About Smarten.
In this article, we will discuss the Binary Logistic Regression Classification method of analysis, and how it can be used in business. Let’s look at an example of Binary Logistic Regression analysis, involving the potential for loan default, based on factors like age, marital status and income. Use Case – 1.
In this article, we will discuss the KNN Classification method of analysis. KNN Classification analysis can be useful in evaluating many types of data. Credit/Loan Approval Analysis – Given a list of client transactional attributes, the business can predict whether a client will default on a bank loan.
This analysis reveals the following: Age – Multinomial logit (Natural log of the proportion of High Satisfaction to that of Medium satisfaction) estimate for 1 year increase in age for high job satisfaction relative to medium job satisfaction when other independent variables are held constant = 1.54. About Smarten.
Frequent pattern mining (previously known as Association) is an analytical algorithm that is used by businesses and, is accessible in some self-serve businessintelligence solutions. Basket data analysis – To analyze the association of purchased items in a single basket or single purchase. Use Case – 1.
First, we will want to understand the terminology used in this type of analysis. How Does Frequent Pattern Mining Support BusinessAnalysis? This method of analysis can be useful in evaluating data for various business functions and industries. Let’s look at an example of Frequent Pattern Mining.
The ElegantJ BI businessintelligence solution is powered by unique Managed Memory Computing and the Smarten approach to advanced data analytics. There is no need for a separate businessintelligence solution or a lengthy implementation process. ElegantJ BI products have been listed in multiple Gartner reports. .”
This article discusses the Paired Sample T Test method of hypothesis testing and analysis. When this process is applied to patients B, C, and D, the results of the analysis for “Before” and “After” can be paired by patient to determine the effects and success rate of these treatments. Use Case – 1.
For example, one might use this method of analysis to determine whether the average value of a sedan type of car is significantly different from an SUV type of car. To better understand the benefits of the Independent Sample T Test Analysis, let’s look at two use cases: Use Case – 1. About Smarten.
Well, there are a lot of reasons to like Self-Serve Data Preparation and Self-Serve BusinessIntelligence solutions. Here are just a few: Empowering Business Users. Reducing time to analyze data by empowering business users do data prep on their own. Leveraging BI Tools to Gain Competitive Advantage, Improve ROI and TCO.
How Can the Chi Square Test of Association Be Used for BusinessAnalysis? Business Problem: A retail store marketing manager wants to know if there is a significant association between the geography of a customer and his/her brand preferences. Use Case – 1. About Smarten.
Pharma faces an increasingly competitivelandscape, an expensive but mission-critical process, and a high level of uncertainty––and there is only one way out: information. And this is evidenced by the growing use of businessintelligence (BI) tools. Here’s how find and make the most of it! Operations.
Crayon Crayon is an award-winning competitiveintelligence platform that helps companies automatically capture and analyze competitiveintelligence from hundreds of millions of sources. PitchBook PitchBook is a comprehensive businessintelligence software offering that spans global capital markets.
Competitiveintelligence is the practice of gathering, analyzing, and acting on information about your market, industry activity and disruptions, competitors, and their products/services. This article will talk about how competitiveintelligence can pave the way to powerful insights that inform crucial business decisions.
This article describes the Spearman’s Rank Correlation and how it is used for enterprise analysis. How is Spearman’s Rank Correlation Useful for BusinessAnalysis? Business Problem: An educational organization wants to assess students’ rating, based on two different sources of observation. Use Case – 1.
This article will focus on the Naïve Bayes Classification method of analysis. How Can Naïve Bayes Be Used for Enterprise Analysis? Fraud Analysis – Based on various bills submitted by an employee for reimbursement for expenditures on food, travel, etc., a business can predict the likelihood of fraud. About Smarten.
If you are considering a BusinessIntelligence solution, you ought to give some consideration to the concept of Smart Data Visualization and review your prospective solution to determine its capabilities in that regard.
This article describes the Simple Linear Regression method of analysis. This method helps a business to identify the relationship between X and Y and the nature and direction of that relationship. This method helps a business to identify the relationship between X and Y and the nature and direction of that relationship.
The business can use this information for forecasting and planning, and to test theories and strategies. Let’s look at the various methods of trend and pattern analysis in more detail so we can better understand the various techniques. This type of analysis reveals fluctuations in a time series. Linear Trend. Damped Trend.
This type of analysis can be applied to segment customers by purchase history, segment users by the types of activities they perform on websites or applications, to develop consumer profiles based on activities or interests, and to recognize market segments, etc. How Does and Organization Use Hierarchical Clustering to Analyze Data?
Product Competitor Analysis. Competitor analysis is a perfectly legitimate and ethical strategy for advancing your business. Step one of the competitor analysis is understanding the competitivelandscape and identifying your direct, indirect, aspirational, and perceived competitors.
Business Problem: Discount Analysis and Customer Retention will help the organization to target discounts to specific customers and the business will need to visualize ‘segments of sales group based on discount behavior’ and ‘customer churn to identify segments of customers on the verge of leaving’. Use Case – 2.
Self-Serve Data Preparation is the next generation of business analytics and businessintelligence. Self-serve data preparation makes advanced data discovery accessible to team members and business users no matter their skills or technical knowledge. How Can Self-Serve Data Preparation Support Business Users?
On June 6 and 7, 2017, I had the pleasure of attending and participating in the Gartner BusinessIntelligence, Analytics and Information Management Summit in Powai, Mumbai, India. The 2017 Summit was larger and even more productive than the Summit of 2016, with more than 650 delegates in attendance.
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