Data Visualization and Technology
Data visualization is the art of representing the data in charts and graphs. It has grown in popularity owing to its great effect in synthesizing what the data represents very easily. It enables decision makers to see analytics presented visually, so they can understand difficult patterns, and identify new patterns. With Interactive visualization, you can take the concept a step further by using technology to drill down into charts and graphs for more detail, interactively changing what data you see and how it’s processed.
Why it is important?
Instead of pouring data on spread sheets or reports, it is easier for human brain to process the complex data when it is represented in the form of charts and graphs. Data Visualization is a quick and easy way to convey concepts in a universal manner and it can be experimented with different scenarios by making slight adjustments.
How is it being used?
Irrespective of Industry and size, all businesses are using data visualization to help make sense of their data to understand complex variables that impact directly their business decisions.
Here is how it is being used.
Comprehend Information Quickly
By Using Data visualization, businesses are able to comprehend information quickly, able to see large amounts of data in clear and concise way, and draw conclusions from that information. And since it is significantly faster to draw conclusions and understand the raw data as opposed to looking at information through spread sheets, businesses can address issues in quickly manner or answer questions in the timely manner.
Identify Relationships and Patterns
Extensive amount of complex data starts making sense with graphical representation. Business will be able to draw recognize patterns and parameters that are highly correlated. Some of correlations will be obvious, but other’s wont. Identifying those relationships helps organization focus on areas that are significant and the parts which will influence in achieving their goals.
Pinpoint emerging trends
Using data visualization to discover trends-both in the business and in the market, can provide insights for businesses in understanding the product quality and customer churn out process. These things affect the bottom line. It is easy to spot the outliers and address the issues before they become bigger problems
Communicate the story to others
Once the business organization has got the trends and emerging patterns through the graphical representation of the data, it is easy to share it with others in the same format. Using the graphical representation of the data to share it with other departments in more engaging and gets the message across quickly.
JD Soft offers data visualization services in India I a professional and masterly method to get the message across to the Inter and intra departments in the organization.
Should we implement and invest in ERP or not in ERP?
This is the question many business leaders ask themselves. Acquiring and ERP system is one of the huge investments a business can make. Many small businesses claim that they are too small for investing in ERP. This mindset comes from the fact that the number of users in ERP drives the decision for the need of and ERP System.
The fact is in today’s scenario, small businesses should be fast and agile than their competition. In today’s small business landscape, no business is small for ERP. ERP allows small business to appear, act or operate like an enterprise – scale business.
What small of businesses need to understand?
Within a small company or start up the employees need to wear multiple hat frequently. Everyone needs to pitch in whenever or wherever the need arises. No one has the time to manually process multiple spreadsheets and mountain of the data? ERP systems geared towards small businesses are able to bend and automate key functions such as order processing, production and finances.
However ERP software is integrated over all departments of the company. Implement and ERP system requires careful planning, in order to minimize the risk of failure and to ensure goals are met.
This requires a standardized implementation blueprint, an established ERP Startegy, much before implementing the same with the involvement of business and IT staff members in the process. Any business can get a real ROI from the use of and integrated ERP system if implemented and executed correctly.
What benefits will a small business get from ERP?
Transparency: Instead of each department having its own information system, all relevant data can be shared and accessed by all departments. This will reduce the process time, increase productivity and decrease the human resources requirement.
Decision Making: Real time data is provided by the system. This will enable the management, accounting, and finance departments to reduce the time and make them to take vital decisions driven towards achieving the goal.
Productivity: With the increased productivity and streamlined business processes, staff can shift their focus on managing increased volumes of business. This approach will help in overcoming different facets of business challenges, and lead to increase in the business growth.
Enterprise business intelligence services in India, continues to grow at the global level and Indian Market. It is expected to reach $22.8 billion by the end of 2020. The business intelligence sector continues to grow due to the fast developing technology and new business challenges. Data has become invaluable to the companies, from small start-ups to global enterprises. Combined with this the growth in commodity hardware by way of cloud computing has increased the computational muscle of businesses to deploy their data to work for them and pushes the managers to accelerate data driven decision. The following are some of the top business intelligence and analytics trends that should be on the top of your mind.
Artificial Intelligence- Human Intelligence is being replaced by AI and machine learning. The research in the field of machine learning continue to improve the possibilities of deploying AI technologies for organisational improvements. The machine learning and AI is being leveraged to bring out the real time data analysis and dash board reporting to see situations as when they happen.
Collaborative BI- Collaborative decision making is achieved by using business intelligence software combined with other tools including social media and other technologies to enhance the working together and sharing teams of data and information with each other.
Embedded BI- What if the capabilities of Business intelligence are given to other applications you use? This approach will create a “Analytics Everywhere” environment. The BI software or some of its features are embedded into another business application to extend its analytics or reporting functionality.
Cloud Analytics- More BI applications will shift to cloud and more businesses will be shifting to the cloud based technology because of its affordability and shorter deployment time. According to IDC predictions spending on cloud based big data and analytics will grow 4.5x than on-premise solutions.
- SAP Business one is designed for the companies who are growing in size. SAP business one is known to be very affordable and it scales according to your growth.
- It is certified on AWS Cloud and Amazon Web Services which are known to be a scalable and reliable cloud platform. This helps your team to work from anywhere and anytime remotely.
- SAP Business One customers are present all over the world, help the company to grow fast, drive profits and make operations simple.
- No matter how many employees work at your office but SAP Business One can help you to develop your company by focusing on core business.
- Most of the companies do not store their database properly hence it may be reason for non-development of the company so SAP business one helps you in developing and growth.
- We help the employees to access with accurate and real-time information in a location hence they can make good decisions.
- Some companies do not have proper inventory management so it is difficult to track the stock details. SAP business one has advanced reporting features that allows you to manage all your inventory information in a single system.
- We help you to maintain real time data and reports in a dashboard format and hence you can able to view the status of your company anywhere and anytime.
- SAP business one provides end to end support and specific functionality for many industries like retail, food and beverages, engineering services, production, life sciences, oil and gas, etc.
- It helps to draw the feedback from the global customers this helps to improve the features and functions.
- It helps you to streamline your business operations and focus on business strategy.
- The growth of every industry will be specified clearly and updated hence you can automatically keep changing in to your new strategies.
- It helps you to handle even the critical data base of the business from the centralized location.
In today’s competitive environment, business organizations thrive on data as a major catalyst. They need the tools that they require to be on an edge over their competition. The business data gets accumulated with time and needs to be mined for any insight. What is the use of raw data which doesn’t give any insights or lead to any decision making for the business owners?
Business Intelligence helps you to transform raw data into meaningful information that can be visualized in interactive dashboards or reports which can be further drilled down, up or across to come up with more relevant contextual insights.
Benefits of SAP Business Intelligence
Providers like us, JDSoft, provides industry-focused SAP business intelligence solutions available in India. We integrate industry mapped data format and their corresponding business functionality in BI tools including SAP BI to provide targeted and fast analytics, reporting and visualization formats for decision makers and business owners.
Here are some of the benefits that the decision makers and business owners quickly derive from Business Intelligence:
Brainstorm to quickly identify areas for improvement in terms of priorities and feasibility
Determine market positioning of products and services
Obtain measures for product viability and time to market
Calculate the supply and demand maps
Spot unmined sales opportunities
Understand customer and market behaviour and trends, and,
Fine-tune lead generation
An “Eagle’s Eye” View:
Top executives get an overall picture by looking at the dashboards and score cards.
With Business intelligence tools, you can customize the KPI’s and milestones to align with your business strategies and objectives and drill up, down and across to monitor the business health across a threshold range.
Instead of collating data from several software applications, systems and sources for each BI access, data is collated and the information is filtered in real time from central hub or a properly modelled data-warehouse, thus reducing time from uploading and downloading data.
As the data is saved under one roof, it provides efficiency and availability.
Organized Business Processes:
Business Intelligence removes the complications associated with business processes as it automates the statistical combinations, predictive analysis, modelling, benchmarking and discrete methodologies. This removes the burden of doing the calculations in isolated methods and helps the business to focus directly on core business parameters and decisions.
In today’s business world, it is imperative for executives to have the right data, insight in order to make the right calls. Business intelligence (BI) is the key to make those right calls.
To gather business intelligence involves a setup covering databases and data stores, software, policies and infrastructure. Based on the wide variety of data that the business uses, generates or communicates with, an organization’s strategic and tactical business decisions are taken. BI tools access data sets and present various informational discoveries through analytics in the form of reports, summaries, dashboards, graphs, charts and maps to provide users with detailed intelligence or insight about the state and trends of the business.
What are the benefits of Business Intelligence?
There are innumerable benefits for business intelligence. Let us look into a few of them.
Growth Insights: Using business intelligence you can device growth strategies for your organization. It is helpful in sales forecasting, looking at sales opportunities, generating leads, analyzing the markets across the globe, segmenting your customers etc. You can collate data from different departments and gain meaningful insights. Biggest challenge for today’s fast-paced business organisations are growth area identification, assessing supply and demand, measuring the product suitability and positioning in the market places. The data used is procured in real-time and analyzed through collaboration thus enhancing the knowledge on different target markets.
Address Urgent Issues: Having right information is the key to address emergency and urgent issues. Using such huge volumes of data, you can take better decisions and more informed decision parameters before the crises further get escalated. You can extract critical data from the volumes of datasets and generate reports on the go. Some urgent issues which might surface can be for example, the misallocation of inventories at different stores and allocating them. Is a social media comment affecting your brand, and if so, to what extent? These kind of questions and issues need urgent attention and solutions faster, and should not be delayed.
Immediate Ground Data: Gathering real time ground data is essential to monitor the movement of your organisation. Now you don’t have to wait for weeks or months to collate and process raw data from sales, marketing and customer support departments. Getting data from BI is easy as it moves with market events as they happen. Raw data sources by the sourcing team can be uploaded, filtered and cleansed or transformed to get the latest insights.
Getting the bird’s eye view: Getting the bird’s eye view is critical for your top management team. BI gives company’s overall performance in a dashboard, which depicts the health of your business across verticals. Thresholds and triggers can be set to give snapshot of your company’s progress against the set business goals.
Peak into the future: With advanced business intelligence and analytical solutions, you can forecast the future and anticipate outcomes. Based on the historical, recurring and current patterns the BI can project and forecast trends. This ability to forecast with data and information can lead your company to be agile and flexible, more importantly provide the leading edge in disruptive business sectors like manufacturing, education, retail and insurance.
At JD soft, we continually refine effective and efficient SAP implementation processes for different customer and business scenarios. Our consultants have wide industry experience to make the implementation as seamless as possible without disrupting your business.
The areas where JD Soft’s SAP team can be leveraged for successful implementation for the manufacturing industry segment are: Read More
Retail industry is emerging as one of the largest sectors in the economy and has seen considerable growth in the last decade. There are multiple challenges faced by retail industry such as to provide flexibility. For example, usage of a single channel marketing is not sufficient for reaching out to various segments of consumers as today many use tablets and smart phones to make purchases. Thus, the Retail Industry needs Multi channel marketing and other innovations to address changing consumer behaviour.
We are living in interesting times, where change is no longer sporadic and spaced out but regular and continuous. In this constantly changing world, organizations across the globe are focused on revenue growth and enhancing productivity with a view to increasing their profits, to be competitive. The entire Globe is their canvas. They are identifying newer growth opportunities and differentiating their offerings to customers in the market place. In parallel, organizations realize that they need to significantly change their cost structures to compete globally.
SAP HANA is promoted to such an extent that the businesses today cannot avoid it when it comes to in-memory databases. It’s nice to have, but the implementation needs some hard decisions.
Is SAP HANA is still a choice to make? Is there any advantage to the business? It costs a lot, why should businesses than go for it? Can this become a competitive advantage? These are those questions which will arise when any business want to migrate to S/4 HANA.