In business, making good decisions is a must. You have to manage risk well. Today’s business is using analytics to drive decision making, and therefore needs to design and implement platforms that make this possible. If a business doesn’t properly set up their analytics or intelligence systems, their decisions may not be made with a useful perspective. Let’s take a look at these systems to see if you may be being fooled by your own numbers.
You’ve been using analytics for your web traffic, and it has worked so well that you are looking to implement a system that will allow you to look at the numbers for your entire business. The first thing that any business has to realize is that they’ll need a reliable cache of information if they want to get any proper reports. To do that, there needs to be a database that properly represents the data you want to analyze.
The data warehouse is essentially a strategy where the databases that your organization uses to function are also stored in a massive central database that will allow the sophisticated analytics software to have the best representation of your business as possible. By feeding a centralized database from all outlying databases, you will have all the data you need to get a proper read on how your business is functioning.
The other half of getting analytics to work for your company is the actual deciphering of the figures. This means reports…lots of reports. There are some seemingly simple mistakes people make when reading reports that lead to wasted capital and resources and inefficiency from bad suppositions. Here are a few examples:
Business is changing, and to get more, you need to use your data. If you would like some information about how to integrate data analytics into your business, call TechPulse today at 1-800-656-3144.