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Not to Miss: The Startup India tableau at Republic Day 2020 parade

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Not to Miss: The Startup India tableau at Republic Day 2020 parade

The commerce and industry ministry recently, in a written press briefing, said that it will showcase a tableau on Startup India, with an aim to promote innovation and entrepreneurship in the nation. The tableau will be displayed at the Republic Day Parade this year, in a first.

The name of the tableau is ‘Startups: Reach for the Sky’. It is themed on the stages of the life-cycle of a startup and the multifarious elements of support provided by the government, the ministry said in a press statement.

“The front of the tableau depicts a creative mind, full of ideas to solve real world problems. The Startup India Tree, in the middle will represent different kinds of support given,” a government official from the Department of Promotion of Industry & Internal Trade (DPIIT), said in the statement.

The staircase will stand for the various stages of growth – those are – coming up with a concept, creating a prototype, preparing a business plan, building a team, launching into markets and eventually scaling up, an Economic Times report said.

The wheel will denote sectors of economy where Indians have driven and given a fillip to economic growth and created employment opportunities on a big scale, the statement read. The wheel and the map of India together depict the width and the depth of the Startup India movement in the country.

Startup India is a flagship initiative of the Narendra Modi government, conceived with the intention of building a strong environment to nurture innovation, drive sustainable economic growth and generate large scale employment opportunities and job openings.

“We have a million problems, but at the same time we have over a billion minds,” Prime Minister Narendra Modi had said about the flagship programme started in January, 2016. In October, 2019 Prime Minister Narendra Modi said that the Indian startup ecosystem will help India achieve the $5 trillion target for the economy set by the government.  

The objective is to inspire and motivate youth to follow their dreams to generate wealth and become job creators and not just job seekers. Under the Startup India Scheme, eligible companies can get recognised as startups by the ministry in order to access a host of tax benefits, easier compliance, IPR fast tracking and other incentives.

More than 26,000 startups from 551 districts of 28 States and 7 Union Territories have been recognized so far. “Working across IT, Industry 4.0, education, healthcare, agriculture, energy, finance, space, defence and all other sectors of economy, Indian startups have attracted substantial global investments and created more than 2,91,000 jobs,” it added.

Besides DPIIT, the Department of Financial Services, Department of Drinking Water and Sanitation, NDRF Ministry of Home Affairs, CPWD Ministry of Housing and Urban Affairs, and Ministry of Shipping will also participate in the Republic Day parade.

 

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Why Tableau Is the Best Data Visualization Tool for Industries Worldwide?

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Why Tableau Is the Best Data Visualization Tool for Industries Worldwide?

There are several data visualization tools available in the market but Tableau is the most popular and effective. Most of the key players from the BI industry depend on this software for transforming raw data into an easy-to-understand format.

What Makes Tableau So Popular?

Tableau is frequently used as a tool that helps to analyze data quickly and creates visualizations for worksheets and dashboards. It lets users design dashboards that generate actionable insights and takes businesses to new heights. Below, we’ve rounded up top 4 reasons why businesses rely on Tableau:

Amazing Visualizations

Tableau allows you to work with more unordered data and develop stunning visualization: courtesy an array of in-built features. You can also achieve superb context, different ways of drilling meaningful data and understand data in minutes.

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Detailed Insights

The best thing about this visualization tool is that it lets you analyze future data; you can do that while observing data from several angles and approaches. Plus, you can frame hypothetical queries and work on that data correspondingly – possible only because of the feature of adding elements for comparison and analysis and ‘what-if’ visualizations!

Simple Approach

Being user-friendly is one of the major strengths of Tableau. Thanks to this feature, users with no coding or technical knowledge can use Tableau easily. Since most of the features are in a drag-and-drop format, any newbie can work on Tableau without possessing a prior set of skills.

DexLab Analytics is one of the most popular Tableau training institutes in Delhi. Take a look at their offerings.

Works With Various Data Sources

This is what makes Tableau an absolute essential for business houses! In Tableau, data can be taken from anywhere irrespective of its sources. This feature makes it powerful as compared to other BI and Analytics tools. It lets you connect diverse data sources, cloud files, spreadsheet data, big data, data warehouses and various other types of data, including non-relational ones. The software can blend any kind of data to create amazing visualizations that are bound to garner admiration.

Are You Ready?

As of endnotes, a large number of Fortune Global 500 companies prefer Tableau over other data visualization tools. And why not! It is user-friendly and can solve complex business problems and prepare phenomenal visualizations within minutes.  

If you are interested in pursuing a business intelligence career, check out Tableau Certification Delhi. Such certification course will push your career to new heights. It will be a good start for your analytics career and you will get better opportunities to succeed.

Enroll now: <www.dexlabanalytics.com/courses/tableau-bi-visualization-certification>
 
The blog has been sourced from: www.knowledgehut.com/blog/business-intelligence-and-visualization/why-tableau-is-so-popular
 

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Know the Difference between Alteryx and Tableau

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Know the Difference between Alteryx and Tableau

Alteryx and Tableau are two leading software products in the realm of data science with broad application. Both are pivotal in the analysis of data and obtaining important insights. But what is the specific role of each product in an enterprise? Are the products complementary or incompatible? Will using them jointly enhance performance? Read on to find out.

Function of Alteryx:

In general, data preparation takes up a major portion of an analyst’s time. Before the data can be analyzed, it needs to be prepped, which involves many humdrum tasks such as combining data sources together and changing the format of data. This process of readying the data in a format appropriate for analysis is called ETL, short for Extract, Transform and Load.

Alteryx is a top software product for simplifying the ETL process. It offers a large array of tools for handling data. From importing data from various sources to getting it ready for analysis work, Alteryx provides a tool for every task. After modifying the data, you can use Alteryx tools with advanced statistical capabilities to perform sophisticated analyses, like predictive analytics and time series forecasting.

For top rated Alteryx certification training in Delhi, get in touch with DexLab Analytics.

Function of Tableau:

Tableau is renowned as a useful data visualization tool, performing a distinct role in the world of data analytics.  Tableau helps transform data into charts and dashboards, revealing useful insights contained in the data. High-quality charts can be created with Tableau, which in turn leave an impactful impression on the audience.

Combination of the Two Tools:

Tableau and Alteryx complement each other really well. Alteryx comes in very handy in converting data into operable format, but it has limited capacity to display data before an audience. Tableau effectively fills this void. On the other hand, Tableau is unparalleled at data visualization, but is lacking in the field of data preparation, especially areas requiring advanced analytics. Hence, the combination of the two tools adds value to the overall task.

In a nutshell, Alteryx simplifies the tedious preparation process of data analysis and Tableau makes the explanatory part of analysis more enjoyable.

Who works with these products?

A good thing about Alteryx and Tableau is that they are user-friendly and hence, don’t demand advanced technical expertise. They contain easy-to-use drag and drop interfaces. So, data analysts with different levels of skill and experience are comfortable working with these tools.

However, these two software products are market leaders and that reflects in their cost. They are quite pricey and can be afforded only by companies greater than the average ones. It makes sense; because these companies generally work huge volumes of data and have the financial power to afford high-level analytics tools like these.

For companies with smaller budgets, Power BI can be an alternative to Tableau, but its functionality will not be at par with Tableau. In case of Alteryx, there isn’t a clear alternative. R and Python are typically used by businesses, but these are coding languages demanding high levels of skill.

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Concluding Note:

Alteryx and Tableau are both leading products in the analytics industry, the former deals with data preparation whereas the latter deals with visualization. Together they boost up business operations. Affordability might be an issue for many organizations, but if you’re looking for the best products in the market, you cannot go wrong with Alteryx and Tableau.

Looking for ways to upskill and get a hefty pay hike in your analytics career? Check out the courses offered by DexLab Analytics. The faculty, comprising industry experts, provides professional certification courses in a number of key areas, like Tableau, credit risk modeling and more!

Reference: blog.kubicle.com/what-is-the-difference-between-alteryx-and-tableau

 

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Importance of MIS in Business

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Importance of MIS in Business

Today’s corporate world is dynamic. Ever-evolving technologies and daily upgrades drive business organizations to fulfill goals and objectives. They also involve substantial risks and uncertainties. These challenges urge businesses to take crucial decisions that end up determining their future success. Since the primary objective of any organization is to improve their profit ratio and flourish in the long run.

This is why businesses can’t ignore the significance of MIS – Management Information System

Define MIS

MIS is a comprehensive set of processes that offers critical data and information to the management so as to enhance informed decision-making. It involves:

  • Gathering apt data from numerous reliable sources
  • Processing of those data to derive meaningful, relevant information
  • Furnishing this essential information to the respective department

What Makes MIS Reports so Important to Boost Business Decision-making?

MIS Reports are prepared after careful analysis of existing data and observing on-going trends prevalent in the industry. They play a key role in improving productivity, performance and profitability of any enterprise. No wonder, it’s extremely important for the administration to lay hands on reliable data in sync with the latest trends to make quick, informed decisions.

As a result, MIS Reporting System is regarded as the bedrock of company operations, and it aids the company to stand out against its tailing rivals.

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Advantages of MIS

Efficient Data Management

MIS is widely favored for managing essential business data to aid in complex decision-making. The high on significance kind of information is stored in an efficient way and can be easily accessed by the administration anytime anywhere.

Trend Analysis

Management in any organization needs to prepare a presentation for strategic planning and tabulate future goals. In order to create such advanced strategies, they need to possess accurate reports clearing in accordance with prevailing market situations. MIS uses numerous mathematical tools that would analyze current market trends and precisely predict future trends based on such details.

MIS Sets Future Goals

Be it a finance firm, an MNC, a healthcare institute – setting up a goal matters a lot. It requires ample research and development. The information derived from MIS Reports is held veritable and is mostly used to determine company goal. Also, MIS requires current market trend analysis and future industry forecasts. Thus, it won’t be prudent enough to ignore MIS and reporting.

Improved Efficiency

The appropriate information collected by MIS helps in formulating improved goals and top notch strategies for the company. Also, the performance can be easily gauged with the help MIS Reports. Undeniably, MS plays a crucial role in enhancing the efficiency of the organization.

Compare and Contrast

MIS database is encompassing and can be accessed anytime. Management professionals can anytime go through the MIS reports and compare and contrast its present business performance with that of previous years’. Often this helps in measuring company’s growth prospects and if it’s on the right track towards success.

In a concluding note, we would recommend Best MIS Training in Gurgaon; DexLab Analytics is a sure bet when it comes to the best MIS training institute in Delhi. With skilled experts in the team, the institute is one stop shop for all things data analytics.

 
The blog has been sourced from  ― aristotleconsultancy.com/blog/mis-important-businesses
 

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Manage Information Systems: Its Challenges and Recommended Solutions

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Manage Information Systems: Its Challenges and Recommended Solutions

The scope and capabilities of today’s CFO have extended well beyond the norms of conventional financial management more into strategic domains of business. The new improved job responsibilities make it important for CFOs to derive meaningful data that would sustain and cultivate strategic business initiatives.

However, the real challenge is to find the right data at the right time and in the right format. Traditional MIS systems that are used for expense and revenue reporting have always been laden with inconsistency, inaccuracy and unreserved intricacy.

The manner in which data is collected, kept, assembled and presented to CFOs is complex and unfit for decision-making. For CFOs and finance teams, data management is a very challenging job which takes a lot of time, effort and expertise. But, why?

Aggregate data is extracted from the conventional MIS system

If you look into any organization, product or department heads are allotted given budgets at the beginning of every month or quarter – and their monthly performance is ascertained against this budget. Canned reports issued by the finance departments are studied to gauge employee’s individual performance against budgets.

Based on the data report, corrective measures are taken, cost overruns are eliminated and budget efficiency is maximized. But, what if there exist deviations in data?

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Aggregate data can never determine the cause of budget deviations

In the General Ledger report, you get to scour through aggregate data for spending vs. budget, but it doesn’t contain explicit transactional details that are required for investigating the root causes that trickles budget deviation or any unexpected increase in a specific expense bracket.

Different teams manage and store data in multiple systems

Transactional data found in the GL summary report is derived from numerous systems, such as Accounts Payable, HRM & Payroll and Inventory Management – each one of them is managed by distinct teams.

Sometimes, professionals not belonging from financial departments can be asked to extract meaningful insights from these data.

Obviously, all this makes the task more complex and challenging. No wonder, it takes a lot of time and effort to solve such intricate issues.

The Solutions

  • Replace the traditional GL system with the cutting edge ERP or a bunch of accounting software.
  • Adopt a self-service management system that might be heavy on cost but productive. It would give the CFOs the analytics they are looking for without disrupting their existing GL.

In this regard, Best MIS Training in Gurgaon offered by DexLab Analytics is the best bet. Our robust MIS system gives you gain access to the right data in a format you prefer.

Remember, if your enterprise is facing any of the above challenges, you should definitely look for a better MIS to tackle your business expenditure and make things right. We, being one of the best MIS training institutes in Gurgaon would love to help you out!

 

The blog has been sourced from  ―

www.happay.in/blog/3-challenges-of-legacy-mis-and-ways-to-overcome-them

 

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Top 4 Tableau Things That Changed the Way I Visualize Data

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Top 4 Tableau Things That Changed the Way I Visualize Data

I love Tableau. I found it to be amazing and the best way to visualize data and develop fabulous reports and analysis. 4 years and still counting, I have come across various advanced features and concepts regarding Tableau, which actually enhanced the way I see Tableau as a fantastic tool for data representation. If I could go back in time and preach 4 Tableau concepts, this is what I would have liked to cover:

The fight between Green & Blue

Tableau differentiates. The differentiation is subject to the types of fields used in a view. Green data fields are continuous, while the blue ones are separate. The green ones give out gradient colors, axes and range filters, whereas the blues result in headers, multi-select filters and categorical colors.

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The Importance of INDEX function (and its close associates)

Though I have scavenged through every available functions of Tableau in order to become a Tableau maestro in my early days, I knew I hadn’t made proper use of the functions INDEX, FIRST and LAST, until now. The main purpose of INDEX is to create a rank, irrespective of any order in which your items need to be displayed on the screen or by any other measure. It is thoroughly flexible and gives you enough room to sort, screen and put up your data in ways not possible otherwise.

While you drag and drop, Tableau writes a query language

Tableau is an intelligent visualization tool. It incorporates all kinds of latest, breakthrough technologies that assists in creating complicated visuals out of languorous data sets with just a simple drag and drop interface. However, on closer look, you will find that Tableau makes use of the data using a form of SQL and then gives shape to your data on screen with an ‘interpreter’.

Just incorporate a measure on label, a dimension on rows and write a query on the line of

SELECT Region, Sum(Sales) FROM Orders GROUP BY Region

You can also put another dimension straight on the filter shelf and it will come with a WHERE clause. After some classification, you get an ORDER BY.

Order of operations

Tableau always performs in an orderly manner – things are done here in a certain manner, and this order eventually helps you in creating a perfect view that will fetch you the desired results. Whether you add fields to your view or filter shelf or do custom calculations, all the items are calculated simultaneously.



Things are treated in the following order:

Context filters will generate a temp table in the source
Top N and/or conditional filters make a part of the SELECT command in the query
Standard filters are used as a WHERE clause
Aggregations are ciphered
Table calculations are implemented
Table layout and axes are etched
Anything on the Pages shelf is held accountable
Marks are then sketched

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So, this is it! I figured out these functions, which helped me to derive the best out of Tableau. If you too had a Eureka moment, then feel free to let us know.

Of course, you might not be familiar with databases and SQL yet you can still become a Tableau expert without nailing the basics, but if you possess a bit of data analysis knowledge then our Tableau training courses Gurgaon can help accelerate your knowledge further. For more, check Tableau BI training courses by DexLab Analytics Delhi.

 

This article was sourced from – www.theinformationlab.co.uk/2013/01/28/5-things-i-wish-i-knew-about-tableau-when-i-started

 

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Difference between a Heat Map and a Tree Map

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Difference between a Heat Map and a Tree Map

Are you planning to pursue a Tableau training course in Delhi? Then you must be well aware of this common confusion about the difference between these two widely used maps. There are two very useful charts which help in analyzing data, heat maps and tree maps. Heat maps and tree maps are highly insightful visualizations. However, many a times, there is a confusion between the two due to which analysts either use misuse it or totally avoid using it.

This article will help to draw a clear line between heat maps and tree maps, thus enabling analysts pursuing tableau certification, Gurgaon to create better visualizations.

We the faculty at Dexlab Analytics, the premiere Tableau Training Institute in Gurgaon aim to clarify this common doubt with this brief discussion on these two maps.

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What are heat maps?

Heat map is a type of visualization tool that is very apt to compare different categories. It helps to visualize measures against dimensions with the help of colors and size to compare one or more dimensions & up to two measures. The layout is similar to a text table with variations in values encoded as colors. In heat map, you can quickly see a wide array of information.

In a heat map, one measure can be assigned to the color and another measure can be assigned to the size.

 Quick Hands-On: Shows the sales and profit in all regions for different products category and sub-Category.

Analysis of visualization: The profit is represented by the color and ranges from red for loss to green for profit. The total sales are represented by the size.

Analysis of visualization

Hence, it is very easy to understand the performance of different products in different regions, at one glance, just by looking at the heat map.

What are tree maps?

Tree maps are a relatively new feature in Tableau, first appearing in version 8.0. The ‘tree map’ is a chart type that displays hierarchical or part-to-whole relationships via rectangles. In case of hierarchical (tree-structured) data these rectangles are nested. The space in the view is divided into rectangles that are sized and ordered by a measure. Nested rectangles mean that hierarchy levels in the data are expressed by larger rectangles (above in the hierarchy) containing smaller ones (below in the hierarchy). The rectangles in the tree map range in size from the top left corner of the chart to the bottom right corner, with the largest rectangle positioned in the top left corner and the smallest rectangle in the bottom right corner.

In a tree map 1 or more dimensions & up to 2 measures are used to create such a map.

Quick Hands- On: Show the sales and profit in all regions for different products category and Sub-Category.

Analysis of the visualization: The profit (color) and sales (size) of products are given at a Category and Sub- Category level. Bigger the size of the node, greater is the sales in that state. Similarly, the greener the node, more is the profit in that state.

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Summary: A slight disadvantage of using tree maps in Tableau is that, as the number of items increase, the amount of space allocated for each item decreases. Hence, the area available to print the labels, become small.  As a result, usually, in a tree map almost all the squares or nodes will appear blank. This defect can be overcome by providing appropriate tooltips for each node. Like in heat maps, measures can be assigned to give different   colors and sizes to the nodes in the tree map.

To learn the right use of these two maps in Tableau we recommend seeking a corporate Tableau Training in Delhi NCR for better understanding of this complex statistical application.

 

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