21 Nov Leap into predictive and proactive analytics
If Data Analytics solutions aren’t on your mind right now, they should be.
Business intelligence (BI) and Data leaders are looking for ways to deliver more value from their data investments. These BI leaders have purchased applications, built data warehouses, and have delivered reports and dashboards; but now want to take their BI programs to the next level. But how?
Chameleon Technologies can help you go from reporting to analytics, guiding you to new ways to deliver analytic solutions for business gain.
Step One: Change your thinking from Reactive to Proactive
The first challenge on the analytics pathway is to move from reactive to proactive views of the business. Your current reports and dashboards present historical views of business activity and are essential for running a business, data analytics will allow you to mine data to deliver proactive—or predictive—views of the business. These views will help your company anticipate customer needs, optimize business processes, and reduce risk and costs by forecasting activities and events.
Many companies have already made the investment in BI solutions and may feel they face an uphill battle to bring in analytics. Business executives who funded a data warehouse may question why they should spend additional money on data-related technologies the data warehouse was to address. Since the benefits of analytics are not always obvious at the start, some executives may question if the business case justifies the investment.
Your executives will quickly see the value of data analytics once a comparison of BI to DA is shown to them.
Another advantage of data analytics is the wide variety of charting formats available. While your current reporting or BI solution may include a few report formats, data analytics can make unlimited reporting solutions available.
Step Two: From BI to Analytics
The second challenge in adopting analytics is organizational.
Mining data and creating predictive models isn’t a skillset most BI or report creating teams have. On your own, you would have to create a new analytics team comprised of statisticians and data scientists who have knowledge and skill to build predictive models.
But, Chameleon Technologies makes this easier by offering a complete data analytics solution with the ability to utilize data from any source you have access to.
Chameleon Technologies will provide examples of success for your teams to follow as they change their ways of thinking about data solutions and will provide training if desired.
Chameleon Technologies provides the capability to deliver predictive scores and values and automatically incorporate them into your production reports.
Step Three: Getting to your new data sources
The final obstacle to migrating from reporting to analytics is expanding the BI team’s data architecture to support more open-ended data access and analysis.
Chameleon Technologies will provide this expertise to access data from other sources. One of those sources may be your current data warehouse, which is a repository of clean, integrated data supplying reports and dashboards with accurate, certified data for decision making. Since a data warehouse often consists of summary data conformed along predefined dimensions, it’s not the ideal data source for creating analytical models.
Chameleon Technologies will create the data access portals and will allow you to combine data from all your data sources to support your data analytics solutions.
It all comes down to choice. Business leaders face a choice today: they can either keep on doing reactive BI, refining the delivery of reports and dashboards to a business audience, or they can leap into the brave new world of predictive and proactive analytics.