Tag: business intelligence

business intelligence reporting

Quantzig’s take on the Role of Business Intelligence Reporting in the e-Learning Industry

The role of business intelligence reporting and data dashboarding as a strategic tool for success is significant in today’s complex business world. As the complexities of data sets grow, the need to analyze big data and reduce decision-making cycle times has become increasingly important for key decision-makers across industries. Many such factors have made business intelligence reporting and data dashboarding crucial for companies to improve business performance and drive decision-making in the e-learning industry.

Leading businesses today use business intelligence reporting and data dashboarding tools to make wise investments and analyze the competition using data-driven insights. Hence, it wouldn’t be wrong to say that data dashboards play a pivotal role in decision-making across industries and are now turning out to be a valuable tool in the e-learning industry for several reasons. This article sheds light on the role of advanced business intelligence reporting and data dashboarding in the e-learning industry.

Wonder how BI reporting can help improve business efficiency? Request a FREE proposal for comprehensive solution insights.

Role of business intelligence reporting in the e-learning industry

The application of business intelligence reporting and data dashboarding tools in the elearning industry has proven to help overcome the shortcomings of traditional e-learning environments in making appropriate decisions, by providing:

Value business insights that help predict learners’ performance

One of the most significant benefits of business intelligence reporting in the e-learning industry is that it not only provides insights on a learner’s current performance but also helps predict his/her future performance.

Fast and accurate reporting

BI reporting tools help businesses generate customized reports to monitor KPIs and gauge the success of their initiatives in real-time. Also, since these reports are generated in real-time, they use the most relevant data sources and display them in the form of visualizations, such as graphs, tables, and charts, enabling decision-makers to act quickly on insights.

Personalized e-learning experience

 Insights obtained from business intelligence reporting and data dashboarding tools enable businesses to customize the experiences of the end-users based on their interests and priorities.

Quantzig has developed cutting-edge business intelligence frameworks for organizations across the globe from both user and consumer perspectives. Get in touch with an expert for detailed insights.

Case in Point: Data Dashboarding and Reporting Help a Canadian e-learning Company Improve Success Rate

A leading e-learning service provider based out of Canada needed to make better use of the data it collects on student performance, mobility, and attendance, to improve student success rates and develop customized, highly interactive e-learning programs to cater to individual student needs. By collaborating with Quantzig, the e-learning services provider designed and developed a BI-based dashboard capable of analyzing data to provide actionable insights.

As a result, the client now leverages data to identify individual student needs and risk levels, impacting student success rates to a great extent. Also, the integration of analytical and database engines at the back-end has enabled them to streamline processes across the entire system, which, in turn, helped drive improvements on the user interface in terms of improved time to insights, speed of decision making in assessing student progress, administering examinations, sharing updates, and keeping the students engaged on a near-real-time basis.

Why Quantzig?

We at Quantzig believe ‘data’ is an organization’s strategic asset which, when combined with the cloud and the potential of business intelligence reporting capabilities, can help accelerate the speed to insight. Also, since data is pervasive, the key is to do something meaningful with it. But to gain actionable intelligence, we need a proven approach that can help harness the power of huge troves of data to be able to – manage it, apply advanced analytics to it, and gain insights from it. By taking advantage of advanced learning analytics techniques that leverage predictive and prescriptive analytics, e-learning industry players cannot just derive insights, but also identify what actions should be taken to drive better outcomes.

Having worked with leading players in the e-learning industry, we possess a detailed understanding of the business environment and the challenges facing this sector. Our analytics team has also played an active part in conceptualizing and executing business intelligence reporting projects over the past few years. Some of the most prominent ones include – the development of landing pages across 6 different verticals for a global conglomerate, creation of BI front-end for a packaging and distribution company, enterprise-wide business intelligence dashboard deployment for a publishing, media and online learning company.

Request a FREE demo for comprehensive insights on similar engagements.

business analytics

5 Benefits of Business Analytics that Can Help You Drive Positive Business Outcomes

BUSINESS ANALYTICS

What is Business Analytics?

Business analytics refers to the skills, technologies, and best practices that empower organizations to iteratively explore and investigate past business performance to gain insights that help drive future business outcomes. Companies use business analytics for data-driven and smart decision making. Business analytics helps companies derive the desired outcome for businesses. It also enables companies to optimize and automate business processes and achieve a competitive advantage by offering insights that help them to :

  • Explore data and find new patterns
  • Conduct statistical and qualitative analysis effectively and explain the reasoning to certain results
  • Validate previous decisions using multivariate testing and A/B testing
  • Utilize predictive analytics and predictive modeling techniques to predict future results

Our business analytics solutions help companies in strategic decision-making. Want to know how? Request a FREE proposal now.

Benefits of Business Analytics

Benefit #1: Encourages smart decision-making

Jetting off in the wrong direction can derail a business process. Fast decision making is easy, but smart decision making is more important for businesses in a short span of time. Business analytics empowers companies to easily access crucial data to make smarter decisions and stay ahead of the curve.

Benefit #2: Offers actionable insights through data visualization

Business analytics uses customized dashboards, charts, and graphs that can make decision-making more interesting. By leveraging analytics solutions businesses can gauge their performance and improve their bottom-line. The visual representations of relevant and extracted data provide detailed information about the target market and enable businesses to offer personalized services to customers.

Quantzig’s business analytics solutions help clients in tactical decision making to support real-time responses through customized analytics dashboards. Request a FREE demo below to know more.

Benefit #3: Keep businesses updated

Today customers are digitally empowered and are easily influenced by better offers in the market. By leveraging business analytics companies can gain insights into customer sentiments and responses to any particular product or service. Business analytics can keep companies updated with the latest market trends and can protect against any unpredictable or volatile situation. This can also empower businesses to innovate and pre-empt their products according to customers’ needs and preferences.

Benefit #4: Makes business processes efficient

Since its advent, business analytics has improved the efficiency of businesses significantly. It has the ability to analyze clusters of data at a faster rate and with maximum accuracy. Consequently, this can help companies to achieve their business goals. Also, by leveraging various analytics tools, companies can encourage a culture of cooperative teamwork where employees can contribute to data-driven decision making.  

Are you finding it difficult to analyze trend data and assess the likelihood of future outcomes? Our business analytics solutions can help. Get in touch with our experts right away!

Benefit #5: Helps in quantifying company values

Every successful business has a set of core values that determine their success ratio. By leveraging business analytics, companies can gauge how these values are quantified and conveyed in a tangible way to drive maximum profit. Quantified values can help businesses in improving their analytical process by defining a common goal that should be followed by everyone associated with the business.

Vendor Evaluation

Top 5 Reasons Behind Growing Importance of Business Analytics in the Digital Age

Business analytics is a blend of business and technology that takes the data-driven approach using data modeling and statistics which helps in developing new business insights. Today the importance of such analytics has manifolded because it provides an opportunity for methodical exploration of data of any organization with its focus on analysis through statistics. As an investor or an entrepreneur, it is very important for you to understand what is lying ahead and where are you driving yourself. There should be enough data available to support your visions and goals for your organization. Importance of business analytics lies in the fact that it helps you make investments when the return of investment seems good and abstain you from inveContact USsting when the market is not favorable.

Here are the five reasons to explain more lucidly the importance of business analytics 

Benefits of business analytics 

Business analytics helps in cost control

Poor financial management and abysmal planning are two crucial factors behind the failure of businesses. Business analytics helps in updating the existing plan for business and devising a proper strategy, planning and strong financial management for the growth of the business. Importance of business analytics is acknowledged when it lay foundations to assess the flow of cash, working capital, borrowing, growth and cash base. All these together helps ultimately in controlling cost.

Quick and wise decision Making

Quick decision making is very important to have a strong foothold in the market. Its ability to interpret and predict the upcoming market challenges communicates the importance of business analytics. Business analytics helps to crack the factors that pull back the business and thus assist to rebuild the strategy.Request Proposal

Analyzing competitor wisely

Competitor analysis is helpful and advisable for all the businesses to succeed. Business analytics helps in gathering more information about the competitors and helps to collect who, where, when and what about them. It involves several steps like identifying competitors, decoding their goals, their strategies, assessing their strengths and weaknesses, identifying their hostility and finally whom to target and whom not to.

Effective market and customer analysis

While reviewing the performance of your business, market positioning and customer database are very important to be reviewed. Such analytics helps to review factors like new and upcoming services, changes in customer needs with time, new technology and many other factors. Customers feedback are of great importance in making improvements wherever needed in the business. The flexibility required by the business to react positively to the competition at short notice is what this analytics provides. 

CTA QZSegmenting strategic review

Business analytics has the potential to help the business in reviewing operational matters, matters of finance, human resource management, management of services and products and so on. This helps in making business more efficient and achieving growth positively.


Merchandising Analytics: A Case Study on How an Apparel Industry Client Optimized Markdowns and Projections

The Business Challenge

The client, a leading apparel industry manufacturer with business operations spread across the globe, wanted to differentiate its in-store offerings and cater to the changing customer preferences. The client also wanted to understand how customer behavior is impacted by product replacements and further wanted to optimize their merchandising tactics to improve shopper loyalty. With the help of Quantzig’s merchandising analytics, the client also wanted to seek ways to gain predictive insights on the sales, returns, and pricing effectiveness and efficiently bridge the demand-supply gap with their customers.

The Solution Benefits

Quantzig’s merchandising analytics helped the apparel industry client identify optimal product combinations based on customer preferences and profile and target potential customers with the help of category planning. The engagement also helped the client reduce their spend due to better inventory planning and increased customer retention.

Predictive Insights

With the help of Quantzig’s merchandising analytics, firms in the apparel industry space can efficiently manage merchandises and maintain price competitiveness. Additionally, firms can optimize their storefront assortment, inventory, and efficient forecast demand planning across their operations.

Gain data-driven insights to deliver profitable results by leveraging Quantzig’s analytics solutions. Request a free proposal!

Apparel Industry Overview

The global apparel industry includes a varied range of establishments manufacturing full-lines of ready-to-wear and custom apparels; apparel service providers, accomplishing cutting and sewing operations on materials owned by others; jobbers executing entrepreneurial functions involved in apparel manufacturing; and tailors, manufacturing tailored garments for individuals. The apparel industry is one of the most in-demand businesses due to the emergence of new trends and production of fashionable clothes. Moreover, the apparel industry plays a critical role in developing a nation’s economy in terms of creation of employment and revenue generation. The rise in disposable income, fluctuations in consumer behavior, the substantial shift toward branded apparels, and promising demographic factors have fueled the growth of the global apparel industry.

However, a few factors are expected to influence in the apparel industry. These factors include:

  • Increasing competition: Today, staying ahead of the players in the apparel industry is becoming increasingly challenging for companies as the threat of new entrants is relatively high. Therefore, to remain ahead of the competition, leading establishments are facing the need to have seamless and agile processes across their business units.
  • Online retailing: Consumers today are looking for convenience, authenticity, and creativity in their shopping preferences. With the online players increasing their focus on customer satisfaction, the customers are more likely to move to online retailing platforms.

Many such factors are compelling firms in the apparel industry space to leverage the use of merchandising analytics. Merchandising analytics help companies track new product performance, optimize markdowns and promotions, and improve overall profit margins. Additionally, companies can rely on merchandising analytics to enhance their merchandising effectiveness and store performance.

REQUEST FREE DEMO FORM

4 Vital Roles of Business Analytics in Healthcare Industry

Today, healthcare companies have access to more data than ever before and are seeking ways to harness the power of business analytics to improve business operations. Business analytics is widely used in the healthcare industry to reduce healthcare delivery costs, increase process and operational efficiency, and improve quality of care. Data sets in the healthcare industry are complex, and as a result, a clearly defined BI strategy becomesFree demo essential. It is also the reason why business analytics in the healthcare industry is relatively in its infancy stage.

Role of Business Intelligence in the Healthcare Industry

Optimizing Business Operations

Business analytics can be utilized in a number of ways to improve various aspects of healthcare operations. For instance, hospitals can analyze patterns in emergency-room care and consequently refine their staffing strategy to determine how many ER attendants are required during different shifts. Optimizing this number will considerably save hospitals nursing costs, which is avoidable. Business analytics can also be used to improve other hospital operations including optimizing inventory, hospital equipment, and specialized care facilities.

Supplier Analysis

Hospitals and clinics can take a closer look at their suppliers by analyzing inventory data, EMR, and other metrics. Using such business intelligence tools, they can determine when they are overpaying the suppliers, underutilizing devices, or having wastage in their supply chain. By comparing pricing across various suppliers and analyzing their cost base, hospitals can better negotiate prices with their suppliers.

Improve Patient Outcomes

The healthcare industry has access to a huge amount of patient data. They can analyze patient data across patients with similar cases and analyze patterns to implement preventive care measures. They can categorize patients on the basis of the level of risk using predictive modeling to improve the care quality. For instance, IBM has developed a predictive model to accurately identify patients that are at the risk of heart disease by collecting structured and unstructured data from a large pool of patients.

Estimating Insurance Costs

Business analytics can help companies determine insurance costs and also predict and refine other medical expenses. For instance, medical institutions can map insurance provider data to patient data in order to create accurate models and healthcare plans. Since most insurance companies are moving towards outcome models; hospitals are willing to work with insurance providers to promote patient outcomes by recommending efficient treatment programs. Insurance companies are willing to lower premium payments for preventive care, as it decreases the cost of overall claims for them.


For more information on the role of business analytics in the healthcare industry, predictive modeling, patient outcomes, and healthcare operations:
Get more info


Related Articles:

Business Analytics vs. Business Intelligence: What will Boost Your Business Growth?

Often business intelligence is confused with business analytics, the reason being that both are superficially similar and influence the data strategy adopted by companies. Let us first understand theFree demo fundamental difference between the two, to identify how each influence the growth of a company.

 Business Analytics and Business Intelligence – How are they different?

  • Business analytics is used to analyze historical data to predict the future business trends; whereas, business intelligence solutions help to collect and analyze the current, actionable data that can be used by businesses to get insights for improving their business operations
  • In business intelligence, the data is collected from some sources like questions, reporting, and online analytical processes. However, in business analytics, statistical and quantitative data are used for explanatory and predictive modeling
  • Business intelligence is a broader concept when compared to business analytics since it uses a wide range of tools and methodologies to help companies formulate an effective data strategy.

Making A Choice Between Business Intelligence and Business Analytics

Business intelligence and business analytics serve different purposes for a business. Therefore, it is essential for companies to carefully understand which data strategy best suits their business model and adopt the same accordingly. Let us discuss a few features of business intelligence and business analytics that companies can keep in mind while making a choice:

  • BI is evolvingOver the years business intelligence tools have evolved and become much more user-friendly. Earlier, companies had to depend on data scientists to use BI systems and build dashboards; however, today they are automated, which make the day-to-day use of business intelligence tools easier for companies.
  • Business Analytics and Social Platforms Social media platforms have gained exponential popularity over the years. This has forced most of the companies to mark their presence on different social media platforms. Business analytics helps companies to integrate social networking and decision-making capabilities to identify gaps in customer requirements and formulate the necessary strategies
  • Faster Pace of Business AnalyticsBusiness analytics can process data at a much faster This is highly essential considering the huge volume of data that are available for a company. Today there are various analytical tools that can be used across IT teams, which makes it easier for companies to carry out analytical tasks easily.
  • BI as a Gateway to Business AnalyticsBusiness intelligence uses basic calculations to derive strategies; whereas, business analytics utilizes various mathematical models to help formulate strategies. Though BI tools play a major role in an enterprise, their capabilities are limited when compared to analytics.

To know more about techniques to boost your businessGet more info

data warehousing and data mining

Collaborative Business Intelligence – The Collective Power of Multiple Minds

Collaborative business intelligence reinforces the meaning of the phrase “the more, the merrier.” Traditional business intelligence tools are more solitary and conclusion-based. The art of brainstorming and collaborative decision-making is largely diminishing with increasing use of business intelligence tools. Companies are now shifting their focus towards collaborative business intelligence tools like social and Web 2.0 technologies, where merging of various business intelligence software takes place to support improved data-driven decision making. Such tools allowFree demo various internal stakeholders to analyze data and exchange information and ideas much like how social networking tools, Wikipedia, SlideShare, and Skype for Business works. Such a collaboration can boost the overall business productivity in the following ways:

Eliminate Poor Business Decisions

Quite often, the process of decision-making happens outside organizational business intelligence platforms, creating a wide gap between human insight and business data. Individuals derive conclusions from the BI tools and communicate it to other team members who have not accessed the data. Collaborative business intelligence ensures that business decisions are made alongside business data to promote fact-based decision-making.

Eliminates Logistics Hurdles

Collaborative business intelligence tools eliminate the need for making costly travel and accommodation arrangements for hosting a meeting, saving significant cost and time. It also renders traditional mode of communication such as telephone, fax, and face-to-face meetings redundant. All relevant stakeholders can communicate effectively without any geographical barriers; thereby, increasing business productivity.

Information Proliferation

The implication of the word collaboration is not only limited within the internal stakeholders but also across organizational boundaries. People are eager to share BI tools that are easy to use with their clients, peers, and other contacts. The sharing of such observations, data, and insights adds to your overall data warehouse providing industry, economic, and psychographic information.

For more queries on collaborative business intelligence and choosing the right tool for your organization:
Get more info

Related Articles:

Predicting Data Analytics Trends in The IT Industry

Data analytics techniques are an assortment of business intelligence, online analytical processing (OLAP), and other advanced analytics applications with a much broader focus. Data analytics services have expansive organizational benefits that help businesses drive revenue, improve operational efficiency, optimize Free democustomer experience, and develop effective marketing campaigns. Data analytics coupled with business intelligence and related advanced analytics services can work wonders in every industry, especially in the booming IT industry. With growing competition and the presence of a highly fragmented market, it is essential for the players in the IT sector to respond quickly to latest market trends to gain a competitive advantage over their competitors.

What’s Trending in The IT Industry?

The ultimate goal of any business, irrespective of the industry it operates in, is to boost business performance and drive profitability. The IT industry possesses large amounts of information – historical and real-time – from a variety of sources that can be processed and analyzed with the help of data analytics. With the help of analytics tools, the IT industry players can leverage this data to reduce costs, optimize processes, and enhance organizational operability. But what are the data analytics trends that will revamp the IT industry, you ask? Read on.

  • Data analytics will help vendors in the IT industry to identify customer-centric metrics to measure and monitor performance on multiple parameters that help track brand perception and measure customer satisfaction
  • With the advent of data analytics and related business intelligence services, the IT industry will direct their efforts towards ramping up their security frameworks to eliminate data security issues and help keep a check on the system vulnerabilities
  • Vendors in the IT industry will increasingly depend on advanced analytics software to analyze and interpret complex data sets to simplify business processes, ensure seamless experience, and offer valuable insights

 

To know more about the impact of data analytics in the IT sector

Ask An Analyst

Related Articles: 

Marketing Analytics Study for an ECG Device Manufacturer Helps Optimize Customer Reach

Over the years, organizations across the medical landscape have started relying on analytics tools to deal with real-world marketing problems. With the increasing focus on customer preference, organizations have started leveraging the use of marketing analytics to meet customer expectations. In the medical landscape, marketing analytics helps marketers measure, manage, and analyze marketing performance, in turn, maximizing its effectiveness and optimizing ROI. Apart from analyzing marketing performance, marketing analytics offers strategic insights into customer preferences; thereby, helping in making better-informed business decisions. Leading manufacturers in the pharmaceutical industry can effectively devise the use of marketing analytics to predict outcomes and further segment the resources. Moreover, marketing analytics can help measure important business metrics in terms of market attribution and market effectiveness.

Quantzig’s market analytics solution helps the client efficiently gather data across all marketing channels and create a one-stop-shop to gauge information and drive marketing efforts. In addition, Quantzig’s marketing analytics also assists the client to identify the prevailing technologies in the market and allocate resources in the long run across the right channel.

The Business ChallengeQZ_DEMO

As the medical device landscape is competitive with the presence of numerous competitors, a leading ECG device manufacturer was facing challenges targeting potential customers and optimizing customer reach. The ECG device manufacturer wanted to devise an effective market analytics study to penetrate across different market segments and enhance their offerings. The medical device manufacturer was also battling challenges such as pricing pressures, revenue stagnation, and intense competition – and wanted to devise robust business models to stay relevant in the medical device landscape.

Furthermore, the ECG device manufacturer wanted to focus on clinical outcomes, demonstrate value for products, and reduce ongoing support costs.

Marketing Analytics
Want to learn more about our analytical methodologies?

QZ_RFP

Market Analytics Study Solution Benefits

Our extensive research from multiple sources helped the client gain a complete understanding of customers across channels and predicted customer and market behavior. The client was also able to engage customers in real-time, understand them and predict trends in customer behaviour. They also identified the features the customers were looking for and tailored the solutions.

Market Analytics Study Predictive Insights:

  • Identify market trends and metrics to measure marketing success
  • Understand price and promotion analytics to optimize the businesses
  • Measure, manage, and analyze marketing performance and optimize return on investment
  • Understand regression and evaluate and optimize marketing campaigns
  • Predict outcomes and systematically allocate resources

    Want to know more about marketing analytics solution?

    QZ CTA

Related Articles:

Close
Quantzig Logo

Hello there!

Are you interested in Quantzig’s analytics solutions?

Contact us by submitting your details below and we will get in touch with you.

Cookie Policy

The Site uses cookies to record users' preferences in relation to the functionality of accessibility. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice