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Role of Self Service Analytics in Businesses

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Role of Self Service Analytics in Businesses

Self Service Analytics is proving useful for business users, who are working on business data without necessarily having a background in technology and statistics. It is essentially bridging the gap between trained data analysts and normal business users.

Following are the characteristics of Self Service Analytics:

  1. Business Users Independence:

Self Service Analytics reduces dependency on IT and Data warehousing teams, thereby reducing the turnaround time for a request made by a business user.

It does so by continuously collating and loading real time data into a singular stream without disparity, which is easily accessible through browsers. Thus, it helps business users in taking decisions on Real-Time basis.

This feature benefits organizations because vital decisions made within time can be more profitable as compared to the traditional way of analysing data, which may not be a good idea in respect to the urgency constraint.

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  1. Easier and Reduced Cost of Operations:

Often, the company’s data are fragmented and widespread across various divisions. This increases the headache of channelling the data meaningfully and in a wholesome manner.

Further to this, preparing reports using this data becomes a cumbersome job for the IT department or the department, which is serving such request. Hence, it may lead to increased cost of time or decreased quality of efficiency at which the operations have to run. However, many a times, these reports fail to give an overview of the operations in an organisation.

Self-service BI integrates data from different systems and delivers a “Single Version of Truth”. Accessing this data and running computations on it requires only a browser for access and eliminates the need to install, maintain and administer large-footprint software clients on each user’s workstation.

If Self Service Analytics is hosted on SaaS, it will further reduce the cost of machinery and maintenance associated with it. The provision for usage can be increased or decreased in no time according to the usage pattern. This really means that Self Service Analytics helps you adapt with time and Pay-Per-Use model, which is a leading trend in most of the industries.

  1. Resolving the conflict over accuracy:

Typically, a business user using Excel would have a local copy of data and run computations on it. He can merge and transform it by using various formulas and finally derive a conclusion.

This is dangerous because in live operations, data keeps changing and data integrity is at stake by working on local copies. Thus, accuracy in decision-making becomes a game of luck.

In Self Service BI, the data from the source is extracted, transformed and loaded into a unique data model, which goes with all operations. In this case, data integrity is assured. In addition, all business users have the same source of data, removing the risk that working with different local copies have.

Therefore, from the above stated facts, we can conclude that Self Service Analytics is a need for today’s businesses.

However, there are a few risks involved in Self Service Business Analytics:

  1. Loose corporate governance and make data available to business users directly may be taken advantage of in an undue manner.
  2. Business users may not be properly trained or skilled to make decisions.
  3. Relying heavily on any tool without some real life experience and insight into the background of that data can result into an impaired decision-making.

If all the above-mentioned risks are mitigated and proper corporate governance structure is in place, Self Service Analytics can be very beneficial for the success of any organization.

To excel in Self-Service Analytics, why not take up Machine Learning courses in Delhi from DexLab Analytics! They are informative, interesting and elaborate.





 

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Shadowing a Data Architect for a Day!

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Shadowing a Data Architect for a Day!

A data architect is a noteworthy role in the present analytics industry. One can naturally evolve from a data analyst or a database designer to a data architect after gathering sufficient experience in the field. The prominence of this role showcases the emergence of the online websites and other internet avenues which require the integration of data from several unrelated data sources.

These data sources can be anything from:

  • External sources, like market feeds (for e.g. Bloomberg) or other News Agencies (like, Reuters)
  • Or they could be internal sources like exiting systems that collect data, for instance HR operations that gather employee data

Here is a depiction of a day in the life of a successful data architect:

Data analyst certification from a reputable analytics-training institute can help to speed up your process of evolution from being a data analyst to becoming a successful data architect!

 

Shadowing a Data Architect for a Day! from Infographics


 

Interested in a career in Data Analyst?

To learn more about Data Analyst with Advanced excel course – Enrol Now.
To learn more about Data Analyst with R Course – Enrol Now.
To learn more about Big Data Course – Enrol Now.

To learn more about Machine Learning Using Python and Spark – Enrol Now.
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Harnessing Big Data for Water Management

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World Water Day: Save Water with Big Data

Appalling forces are re-establishing the relationship between humans and water.

In the past, communities developed slowly, while the weather remained constant. Water sources never depleted at tumultuous rates as it has today. Water is no longer a dependable resource. That’s why many countries and cities are embracing smart technologies to manage water efficiently and preserve it for the coming generations.

As we observe the United Nations World Water Day on Wednesday, 22nd March, it is apt to assess the development being made in conserving this diminishing resource.

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 Today, the Internet of Things (IoT) – a blooming worldwide network of devices and appliances linked to the internet – has materialized as a propitious solution to save water and protect clean drinking water, especially in cities.  

To begin our discussion, Netherlands is on its way to develop a pioneering program to address the relevant problems of increasing sea levels, surging number of droughts and the effect of extreme weather changes on its trains, bus networks and roadways, and the efficiency with which the entire nation tackles situations like this. The ambitious project, Digital Delta draws in local and regional water jurisdictions, top-notch scientists and proliferating businesses to implement Big Data technology for upgrading the systems of its €7 billion water management, while restricting the costs of preserving water by 15%.

Prophecies about Urban Centres
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Plummeting freshwater resources: a serious challenge faced by the global population is now at its apex. An overwhelming 89 percent of the world population thrives on enhanced water supply systems, which results in a loss of more than 32 billion cubic meters of fresh water, through physical leakage. Thereby, more than 50 percent of world population will be vulnerable in water-stressed regions by 2025. And by 2040, the figures will further push the energy demand by 56%, making US the second highest energy consumer across the globe.

Saving Water Globally

In the meantime, most of the world cities should re-invent and re-structure their assets to pull together advanced functions encompassing different complex systems and to associate with new powerful allies. Urbanization comes with its own costs. Day by day, these networks are growing more complicated and even more expensive. By delving deeper into the interconnections of systems, the societies will be in a better position to grasp how to run them more efficiently.

Water has never grabbed eyeballs, as it has today. Many countries are not at all prepared to manage such burgeoning complexities of water management. Besides, water management authorities are constantly under pressure to harness their power for flood protection and drinking water standards.

Reality Check: Water demand is set to rise by 30% by 2030. Ever increasing population and swelling urbanization are the reasons behind such calamitous figures.

Smart City Technology – The Key to Urban Sustainability

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New Jersey Institute of Technology (NJIT) revealed that by 2025 smart city technologies would multiply to an industry estimating $27.5 billion. Moreover, nearly 88 smart cities will develop by the end of 2025. Smart cities whirl around the concept of using improved, interconnecting technologies to make environment safe, lives easier and urban living cost-effective and more efficient.

Societies are enduring new weather extremes. It is the high time to use big data and analytical science to cure the growing complexities in managing our water systems. Smart technology is the only viable option that can take future generations towards a sustainable future.

Seeking data science courses online? Visit us at DexLab Analytics. We offer a wide array of highly interactive online courses in data science.

 

Interested in a career in Data Analyst?

To learn more about Data Analyst with Advanced excel course – Enrol Now.
To learn more about Data Analyst with R Course – Enrol Now.
To learn more about Big Data Course – Enrol Now.

To learn more about Machine Learning Using Python and Spark – Enrol Now.
To learn more about Data Analyst with SAS Course – Enrol Now.
To learn more about Data Analyst with Apache Spark Course – Enrol Now.
To learn more about Data Analyst with Market Risk Analytics and Modelling Course – Enrol Now.

Knock! Knock! It’s Time to Change Your Bad Data Habits

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Knock! Knock! It’s Time to Change Your Bad Data Habits

Do you follow your instincts instead of data and insights?

Do you prefer storing data in different databases, in separate formats with varying values?

Habits are subject to change. Though it may take some time, but eventually it evolves. Good and bad habits make a person. Good habits don’t demand attention, but bad habits often need to be looked into.

If you suffer from bad data habits, then you must make sure you deal with it. It has to be a thing from your past rather than a dominating present. After all, data is incredibly important for business organizations to proliferate and generate decent revenues.

 

As per Experian’s Data Quality Report, 83% of companies consider their revenue suffers from inaccurate and insufficient customer data. It happens because of time and money wastage on insubstantial resources, which leads to a humungous loss of productivity and profit.

Bad Data Habits: The Ugly Truth

Data is the essence of business. From email delivery to customer feedback to profit generation, the impact of data trickles from strata to strata.

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Sadly, many companies fail to fathom the significance of data and continue storing data on multiple systems, instead of a single location, in various formats without actually knowing ways to handle it. This eventually results into huge data pile-ups, where the entire data silo becomes difficult to manage.

However, if you have the right tools and a zeal to ensure data quality, you can confidently manage your data, eradicate duplications and fix errors before they inflict damage to your fundamentals. Besides, prudent strategies, time-to-time reviews and absolute determination are necessary; read this article to gain more insights about how to work on your bad data habits.

Let awareness do the work

Detailed information about customers is crucial for better assistance and quicker efficiency. So, you should always tell your customer support team to derive more information about their customers in order to serve better.

Understand your data needs

What data is important for your business? Once you know that, you will be able to apprehend your customer’s needs and expectations more effectively. Moreover, be sure that the data is accessible to all those who really needs it, otherwise it won’t be fruitful.

Introduce Standardised Data Quality Policies

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For high quality data, make sure you introduce standard data policies and procedures. Also, ensure that the people working in your organization are acquainted with the ways of recording and storing it.

Initiate Regular Reviews

Data degradation is common. Human beings commit mistakes. Hence, it is important to regularly review and cleanse data in order to avoid future discrepancies.

Integration and Installation of the Right Tools

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Integrate your network to ensure the data is stored on one server, but accessible from multiple locations. This will help you get an entire picture of your company’s business performance over varied mediums. Install any of the improved Data Cleaning Software to make sure your data is free of duplicates and perfectly formatted right from the start.

 

To brush up your analytics skills, get enrolled in a Data analyst course. Visit DexLab Analytics.

 

Interested in a career in Data Analyst?

To learn more about Machine Learning Using Python and Spark – click here.
To learn more about Data Analyst with Advanced excel course – click here.
To learn more about Data Analyst with SAS Course – click here.
To learn more about Data Analyst with R Course – click here.
To learn more about Big Data Course – click here.

We Take Immense Pride in Sponsoring the Ultimate CMO Challenge – Atharva’17

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We are back again with some exciting news for you! We, a team of consultants of DexLab Analytics are sponsoring Atharva – the Ultimate CMO Challenge 2017, which is to be held at the Delhi School of Economics, today.

 
We Take Immense Pride in Sponsoring the Ultimate CMO Challenge – Atharva’17
 

For detailed information, click on this link. DexLab Analytics is sponsoring “The Ultimate CMO challenge” by the Delhi School of Economics

 

The first round was held on 13th February, 2017, where an Initial Case Study was needed to be submitted online and a brief for solutions, in the form of 3-4 slides or 2-3 pages write-up was to be submitted by 19th February, 2017. The candidates who got selected were declared as shortlisted by 21st February, 2017. And within 27th February 2017, final solutions in the form of PPT (with maximum 15 slides) were submitted.

Continue reading “We Take Immense Pride in Sponsoring the Ultimate CMO Challenge – Atharva’17”

Participate at the Atharva’17 “The Ultimate CMO Challenge, sponsored by DexLab Analytics

Posted on by Dexlab

We have some intriguing news, The Ultimate CMO Challenge from the Delhi School of Economics, University of Delhi is being held and we are sponsoring the event. Participate at the Ultimate CMO Challenge if you a PG student or are pursuing a course in MBA.

 
Participate at the Atharva’17 “The Ultimate CMO Challenge, sponsored by DexLab Analytics
 

The first round will be an online round where participants would have to submit their solutions online. Problem case will be sent to the teams that have registered for the challenge, the solution to be submitted should be of 6 slides except the cover slides. One can mail their solutions to cmo.atharva@mibdu.org

Continue reading “Participate at the Atharva’17 “The Ultimate CMO Challenge, sponsored by DexLab Analytics”

2.5 Quintillion Bytes of Data are Being Created Everyday

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Astounding amounts of 2.5 quintillion bytes of data are created everyday today. Attached with this post is an informative infographic made by our team of trainers at DexLab Analytics.

 

The process of Big Data accumulation is best described as the collection of complex and large datasets of such an amount that it becomes difficult to process, capture, store, analyze and search them with the use of conventional data base systems.

 

It requires the use of more advanced mechanisms to do the same. Currently the use of Big Data is shaping the world around us, offering a deeper qualitative insight within our daily lives.

Continue reading “2.5 Quintillion Bytes of Data are Being Created Everyday”

You Must Put These Data Analytics Books in Your Reading List This Year

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To be a successful data analyst, you must share two very important attributes that you must possess:

 

  1. You must be a voracious reader in order to keep up with the developments in the industry
  2. You must be willing to share your knowledge with the people in a simplified manner, so that everyone around you also gets access to this knowledge
     
    You Must Put These Data Analytics Books in Your Reading List This Year

 

That is because the universe around us deals in the common currency of information and wisdom, which should flow freely without any price tags on it.

Continue reading “You Must Put These Data Analytics Books in Your Reading List This Year”

Data-Analytics Driven Insights Still Distrusted By Executives!

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While organizations are all words about having data driven decision making to drive their businesses, but maximum of business leaders seem to lack confidence in the information generated from data analytics. But in the rest of the world, demand for analytics training institute is on the rise with every passing day…

 

Data-Analytics Driven Insights Still Distrusted By Executives!

 

Data analysis is increasingly becoming central to decision-making in companies, especially in departments where people work towards increasing customer growth, improving productivity, and risk management. But although companies push to make their decision making process more data dependent, it seems business leaders are still more accustomed to taking serious business based on gut instincts and experiences. They still seem to have trouble trusting the insights shared from meticulous data analysis processes. Continue reading “Data-Analytics Driven Insights Still Distrusted By Executives!”

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