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Armed with BI-based prowess, these organizations are a testament to the benefits of using online data analysis to enhance your organization’s processes and strategies. Many are also overwhelmed by where to start, worried about cost and effort, and discouraged by stories of BI failures. “Up And the success stories are seemingly endless.
You need access to data, the ability to analyze (slice, dice, drill-up, drill-down, drill-around) interesting data points that your performance throws up, ability to understand what caused the performance (often by understanding who did, what and where in other parts of the organization), and the power to make decisions.
Using the right marketing KPIs (keyperformanceindicators) is a good start – what is now left is finding a way to organize it all in a way that makes sense and brings value. This is useful since seniors need to know and control customer costs and the quality of leads. How do you know that? Regularly monitor your data.
Too many bars, inside them too many slices, odd color choices, all end up with this question: what the heck's going on here? Let's show the cost by quantifying the impact due to the difference between 7 million and 24 million. We throw off a lot of data as a subtle way of earning a great job performance review.
These benefits provide a 360-degree feedback loop. In this new era, users expect to reap the benefits of analytics in every application that they touch. Users are coming to expect sophisticated analytics at little or no cost. All benefit from the enhanced functionality and additional reporting and analytics.
Analytics is vital now because providing end-users with the ability to analyze, slice, and dice data within the context of their application is essential to staying competitive in today’s fast-paced digital world. Who benefits? What benefits does it provide? The total benefit comes to $750 thousand over three years.
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