Tag: advanced data analytics

analytics solutions

How Can Analytics Solutions Empower Businesses in 2019?

With the changing business environment, data analytics solutions have become the key to outshine all competition. Leveraging analytics solutions effectively is the major difference between companies that fail and succeed in the competitive business landscape of today. Companies that are highly successful in the B2B marketplace are using analytics solutions to devise effective and highly specific campaigns to reach out to targeted prospects with a curated message. Data analytics solutions help business organizations to make data-driven decisions and pave the way for businesses to identify inefficient processes, spot new opportunities, and cut costs significantly. With the help of algorithms, data analytics solutions assist companies to extract actionable insights from the data and make data visualization simpler. There are various analytics solutions such as web crawling, text mining, predictive analytics, and market mix modeling that act as a silver bullet for companies operating in various sectors.

Here is a brief summary of common business challenges that can be mitigated with the aid of analytics solutions:

Challenges e-commerce businesses face and how web crawling and text mining solutions can help?

Competitor research, dynamic pricing, new product research, assessing the required data, and managing proxies to reliably scrape the web without disruption are some of the major challenges that e-commerce businesses face. Therefore, it becomes important for such businesses to consider the reliability of their data feed. Web crawling and text mining solutions can help e-commerce businesses to do so. Web crawling and data mining solutions can also assist marketers to fine-tune product portfolios, optimize price points, and customize it down to the individual level to boost profitability. 

How can analytics in healthcare help companies deal with challenges in the industry?   

Despite its promising growth prospects, companies in the healthcare sector are hard pressed when it comes to finding solutions to several complicated issues such as shooting costs, medicinal and technological advancements, changes in policy and regulations, maintaining efficient operations, and providing the best care. But this is where leveraging analytics in healthcare can help. The use of data analytics solutions in healthcare can help healthcare service providers in minimizing healthcare waste, reducing hospitals readmissions, and providing cost-effective treatments to patients.

How can B2B companies tackle growing business challenges by utilizing market mix modeling?

Today, it has become really difficult for businesses to measure marketing effectiveness. Analyzing the future impact of a change in marketing metrics and optimizing investments to drive profits is a daunting task for B2B companies. Also, the influence of operational factors and several external factors can lead to an increase in the market spend for B2B businesses. This is where market mix modeling can be taken into account to set the correct foundation for their marketing strategies and branding solutions.

Here is the list of that Quantzig Conducted on the above topics that you can watch for free:

#1: Importance of web crawling and text mining solutions to improve e-commerce business strategy: Customized web crawling and text mining based analytics solutions can help e-commerce businesses to tackle critical challenges created by the recent explosion of data. Web crawling and text mining solutions assist businesses to explore innovative techniques to collect vast volumes of online data and organize it in a structured manner. Furthermore, it helps gain better business insights, improves business planning, and optimizes decision management. Watch out the full webinar here:

#2: How can analytics bring in commercial excellence in the healthcare industry? Healthcare regulations and advancements in medicines have resulted in the restructuring of healthcare provisioning as well as diversification and specialization in life sciences. Organizations in healthcare need to develop commercial strategies that include all stakeholders. Leveraging analytics in healthcare can help organizations to gain real-world insights and maintain a single source of accurate information of customers for segmentation, targeting, and call planning. Check out the full webinar here:

#3: Is market mix modeling a cornerstone for B2B companies?  Marketers across industries are hard pressed to prove the value of their marketing investment decisions based on the performance of their business and identify opportunities for optimizing investment. Market mix modeling helps companies to develop a multi-channel strategy to execute and measure campaigns across digital channels and boost conversions. Watch out the full webinar to know more:

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data and analytics

Weekly Round-up: A Storyboard on the Importance of Data and Analytics for Businesses

LONDON: Quantzig, a leading analytics services provider, has announced the release of their new storyboard on the importance of data and analytics for businesses. Each of these downloadable articles explains how data and analytics solutions can help companies to make smart decisions, improve customer satisfaction, decrease e operational expenditure, reduce risks, and enhance fraud management.

Business leaders across industries are increasingly adopting big data analytics and data visualization techniques to improve their business operations. However, many organizations still seem to think of analytics as a quick fix for their business needs and investing in data and analytics is just the beginning of their journey. But to achieve business goals, it is high time for businesses to leverage data and analytics solutions that can help them boost transparency and enhance their approach towards data-driven decision making.

Quantzig’s data and analytics solutions have helped companies with the right data visualization techniques, capabilities, and frameworks to handle the volume, variety, and velocity of data to make informed business decisions while ensuring information privacy and security. Below, we have summarized some of Quantzig’s free resources and have also highlighted ways in which data and analytics solutions have helped businesses to gain a leading edge in today’s competitive business scenario.

Our data and analytics solutions help companies to make proactive business decisions and pre-emptive planning. Request a free proposal to gain better insights.

#1: How can analytics solutions transform business models? A successful business model is not just about completing a business plan or determining which product or service to pursue. It is about mapping out the strategy to create ongoing value for customers. But you must be wondering where to start. This free resource by Quantzig can be your key to success. It gives a detailed overview of how companies can reshape their business models by leveraging data and analytics solutions. Also, it unveils five secrets that can help companies identify and capitalize on new business opportunities.

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Gain a holistic view of your datasets with our customized data and analytics solutions. Request a FREE demo now!

#2: What are the top AI and analytics trends in 2019? Analyzing and optimizing the customer experience is the bedrock of successful digital transformation in 2019. Data and analytics capabilities with minimal manual efforts have become the hallmark of all business intelligence solutions. Artificial intelligence (AI) and machine learning technologies are transforming businesses and organizations have become highly dependent on automated data-analysis capabilities. This free resource by Quantzig uncovers some of the top AI and analytics trends that took off within corporate boardrooms but will continue to proliferate across different layers of business operations in 2019 and beyond.

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To know more about our portfolio of services, get in touch with our experts right away.

#3: What are the key steps to build an analytics-driven organization? Companies across industries agree that the capacity for data and analytics is becoming very crucial to their basic viability. Therefore, they need to be prepared for the future when data and analytics are going to be both important and integrated at all levels of organizational decision-making. It has become imperative for businesses to exploit available data in order to maximize profits. However, when it comes to extracting business value from data, most of the companies fail miserably. Quantzig’s free resource uncovers a few important steps that can help organizations to improve transparency, enhance business efficiency, and boost overall business performance. Download the free resource now to know more.

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data and analytics

Evaluating the Importance of Data Analytics and Visualization for Businesses

When it comes to successfully positioning your organization in the competitive market, data analytics and visualization act a key ingredient. Data visualization using appropriate data analysis methods can provide valuable insights into business operations. Such insights can be incorporated by businesses in the decision-making pipeline to make data-driven decisions. Leveraging such data analytics and visualization solutions can help companies to analyze their data irrespective of the size, scale, type, and domain and improve their decision-making capabilities.

Data analytics and visualization have become a necessity for companies to manage risks and comply with the changing regulatory landscape.

Therefore, it is imperative for businesses to realize the importance of data analytics and visualization as visuals are immensely capable of predicting all possible outcomes and make complex decisions to yield favorable outcomes. In this article, our team of experts has highlighted how data analytics and visualization techniques can be utilized to make the most of the statistical data, old experiences/learnings, and fresh ideas to launch new products.

Extracting insights from disparate datasets can be a difficult task for companies. But data analytics and visualization techniques can help. Request a FREE demo today!

How can data analytics and visualization help businesses?

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data and analytics

3 Ways Predictive Analytics Solutions Can Help Businesses Derive Successful Outcomes

With the shifting key values of every industry from customer-focused to customer-centric, there is an immense growth in data and information. This has changed customer dynamics and as a result, every business is facing numerous challenges such as market uncertainties, driving efficiency, and effectiveness in their marketing productivity, immense competition, customer demands, fraud detection, and risk management.

Many businesses across all industries, in order to cater customer demands, are trying to utilize the data that their customers leave behind while interacting with the company. Harnessing this pool of data can offer several benefits to organizations. However, many companies still have not realized the importance of data mining and have not gone beyond gathering and storing their data. Although it is difficult to deal with an unstructured set of data by leveraging predictive analytics solutions businesses can fetch optimum results from such data. 

At Quantzig, we understand the impact that predictive analytics solutions can have on your business. And to help companies derive actionable insights from large and complex data sets, our team of experts has highlighted three important ways in which predictive analytics solutions can help in managing large volumes of data and setting up analytical frameworks to derive real-time insights that facilitate more informed and wise decisions.

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5 Ways Big Data and Analytics is Revolutionizing the Food Industry

The food industry is one of the most profitable sectors across the globe. However, with the increase in global competition, companies in the food industry have started facing numerous challenges such as reducing supply chain waste, optimizing supply chain efficiency, boosting sustainable growth, implementing green policies, and finding a competitive advantage. To deal with such challenges, businesses in the food industry need to focus on leveraging big data and analytics to keep close tabs on new supply chain trends and competitors’ market progress.

Inefficient supply chain leads to low-profit margins and more wastage. Furthermore, if the supply chain is not optimized, it can result in the inability to adapt quickly to a problem and can increase operational costs. Therefore, players in the food industry must leverage the benefits of technology like big data and analytics to gain better insights into the ability to track and monitor supply chain activities in real time.

At Quantzig, we understand that to ensure the efficiency and performance of your supply chains, from sourcing to manufacturing to delivery, optimization is required. And to help companies in food industry thrive in the competitive landscape, our team of experts has highlighted five ways in which big data and analytics can help companies in the food industry to become market leaders. 

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Top 3 Benefits of Data Analytics That Can Take Wearable Technology to the Next Level

From fitness and activity trackers to “smart clothing” and smartwatches, the possibilities are practically limitless within the industry for wearable technology. And this growth is further enhanced by the promise of high monetary rewards. But design and data collection are only a small component of the potential that wearables offer to both companies and consumers. Taking wearable technology to the next level of usefulness requires companies to build in additional analysis features that increase engagement levels, improves the usefulness of the wearable technology, and provides an unparalleled experience to the consumer. In other words, the benefits of data analytics can help companies to effectively determine what the wearable technology is actually doing for their consumers. But the question that arises here is, what are the benefits of data analytics and how can it help wearable technology to become even more popular. This article has answers to this question. Here, we have discussed in detail some of the significant benefits of data analytics that have potential to take wearable technology to the next level in 2019.

Benefits of Data Analytics

Detailed insights from collected data

One of the most crucial benefits of data analytics is that it can turn collected data into the foundation needed for actionable insights, and in doing so provides additional company and consumer benefits. For example, a sleep tracking device might collect data on how and when a consumer is sleeping. But without the analysis of the collected data, the device only helps in identifying the hours that a consumer sleeps or fails to reach a REM cycle. Does this knowledge help consumers in any way? The answer is simple, no! It is in this context that the real benefits of data analytics are realized.

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Personalized services based on habits 

By leveraging the benefits of data analytics, wearable devices can provide personalized offers to consumers. By analyzing the data captured by wearable technologies, companies can create marketing offers that are customized to each consumer. For example, a step-tracker can reveal that a consumer takes the most steps around lunch time. By leveraging this information viaRequest Proposal personalized offers, companies can encourage the consumer to take more steps throughout the day. 

Improved employee health and productivity

One of the key benefits of data analytics is their ability to improve the health and productivity of employees. Wearable technology can collect the data needed for a company to analyze the productive hours of the day of their employees. Additionally, the devices can also monitor employees’ health, so that the company can mitigate risks associated with lack of sleep, high levels of stress, and other health symptoms that contribute to an ineffective and unhappy workforce.


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3 Common Mistakes to Avoid in Big Data Analytics

Today, big data analytics is one of the most crucial processes for any business, big or small. For data scientists, it acts as a pair of glasses that helps them see the actual reality of a business’ performance, beyond scattered numbers in graphs. A proper, solid, and reliable analysis allows you to make fact-based and rational decisions, but if mistaken, advanced data analytics can lead you astray and you might end suffering a huge loss. So, it can be safely presumed that it is not enough to have good quality data unless you use the datasets efficiently. However, there are many hurdles that businesses might encounter along the way. While implementing a new strategy to strengthen your business with advanced data analytics, mistakes can prevent you from realizing its complete potential. So, in this article, we have summed up some of the common blunders businesses should avoid while developing a big data analytics strategy.

Mistakes to Avoid in Big Data Analytics

Being rigid in processes and products

If you are rigid with your process and product, you are committing a big mistake. You should begin your project in a way that is both strategic in vision and agile in execution. Therefore, you need to pick technologies that are open and expandable. For example, you must avoid vendor lock-in by using open source tools. For obtaining optimum results from advanced data analytics, it is important to foster a culture that fosters failing fast and learning from mistakes. You must avoid letting egos drive your project and understand that if your team experiments on ten things, eight of them might not work. You should get people on board in your data project team who can thrive in this sort of DevOps style of work.

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Neglecting security and governance at the beginning

Today, security and governance are extremely important, as privacy is one of the major concerns in almost every industry. Businesses still tend to start big data analytics projects as pilots, with just a handful of people working on them, and without security and governance baked in. This is a huge mistake when it comes to big data analytics. You must get compliance, governance, and security conversations started on the very first day of the project. You must carefullRequest Proposaly choose the right governance strategies, as well as the right technology of governance.

Relying on the same KPI’s always

As things are constantly changing and your business is subjected to constant dynamics, so you must learn to adapt to the ever-changing environment. This is how you can prosper. So, try not to hold on to the old performance indicators that are used to measure your success in the past. You need to use newer and more suitable tools to make advanced data analytics tools reflect the current performance of your business and identify what really drives your business forward.

Quantzig’s Advantage

Being a leader in offering big data analytics services, Quantzig helps businesses to manage, store, and integrate huge datasets. Also, we help businesses to gain predictive insights that facilitate proactive business decisions and pre-emptive planning. Additionally, Quantzig promises to deliver best-in-class frameworks for multi-dimensional data aggregation and utilizes visualization-based data discovery tools for insight generation.


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Zero Waste Solution: Effective Food Waste Management with Data Analytics

Food waste management is a matter of global concern. According to recent estimates, roughly one-third of the food produced in the world for human consumption every year — approximately 1.3 billion tons — gets lost or wasted. This contributes to the emission of greenhouse gases from landfills. Food waste occurs across the entire food system ranging from producers, retailers and restaurants, to consumers. Forward-thinking businesses are using advanced technology such as data analytics to tackle the issue.

Using big data and data analytics to collect real-time operational data throughout the food waste disposal process allows visibility into the organic waste stream. This further facilitates businesses to identify inefficiencies in food management processing and helps initiate process improvements to create immediate impacts. Measuring and optimizing food waste management not only supports environmental directives but also forms the key to finding operational efficiencies, enabling a business to make informed decisions about purchasing, production or other logistical needs.

How can data analytics help in food waste management? 

Retailers and other businesses dealing with food products are increasingly turning to data analytics solutions in order to manage the food wastes. The information collated and analyzed using data analytics reveals the waste generated by the business and seasonal change in demands, helping business to better plan their food waste management strategy.

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Optimum inventory level

Analyzing sales information, weather forecasts, and seasonal trends, help manufacturers to identify an optimum inventory level which they can then use to reduce the effects of food wastage. Predictions of consumer demand during a particular time can then be made and promotional plans and sales approaches can be structured around sell-by and expiry dates. This is primarily intended to cut down the food wastage and the knock-on environmental and cost issues that arise.

Predict changes in demand

Data analytics can be used to identify seasonal changes in consumer demand for food products. This helps retailers or restaurant chains to plan what quantity of a particular food item must be produced or procured, consequently leading to reduced wastes and better food waste management. Data analytics also helps rRequest Proposaletailers determine the products that are closer to expiry and aggressively reduce the prices on such items so that they are consumed before their expiry date and not wasted.    

An example of analytics in food waste management

A notable success story for using analytics in food waste management is that of the British multinational groceries and general merchandise retailer – Tesco. The company uses a data-driven approach to reduce food waste and ensure effective food waste management. Tesco’s systems order approximately 110 million pounds of food products every day. So, the retailer turned to data analytics to improve the supply chain and minimize the instances of food wastage. Their systems utilize large amounts of data from its many store locations to develop, train, and test their algorithms. They utilize weather forecasts to increase their accuracy in predicting how the demand for food will change. Common sense tells you the seasonal change in people’s demand patterns. Data tells you exactly how much the change is and plan the inventory accordingly. This method helps minimize food waste by ensuring the right quantity of food products are available at each location. In addition to reducing waste and ensuring better food waste management, these initiatives have a positive economic impact for the retailer as well.

               


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