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Because things are changing and becoming more competitive in every sector of business, the benefits of business intelligence and proper use of data analytics are key to outperforming the competition. Your Chance: Want to try a professional BI analytics software? Your Chance: Want to try a professional BI analytics software?
Spreadsheets dominate the activities of gathering and preparing data, and performing descriptiveanalytics. Source: IDC, Data and Analytics in a Digital-First World commissioned by Alteryx. Consider how many analytic spreadsheets exist in large enterprise organizations. Spreadsheets are dark matter.
Descriptiveanalytics supplies the foundation of this approach, providing insight into past business performance by analyzing historical records. Deloitte research indicates that focusing on a small number of high impact use cases in proven areas can significantly accelerate ROI with AI implementations.
Return on Investment Now we bring it all together to calculate the ROI on embedded analytics. Costs: The investment in developing and maintaining the solution. “-1”: The formula assures that a positive ROI is achieved only when benefits exceed the costs. Benefits: The combination of strategic benefits (e.g., cost reduction).
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