13 Key Steps to Integrate CRM With Analytics You’re about to embark on a journey to seamlessly merge your CRM with analytics. Imagine unlocking a treasure trove of insights and opportunities from your customer data. By following these 13 key steps, you’ll define integration goals, assess data sources, and optimise reporting dashboards. Get ready to…
5 Key Metrics for Social Media ROI Analysis Do you feel lost when trying to measure the impact of your social media efforts? Dive into this concise guide to master the 5 key metrics for social media ROI analysis. By understanding the reach, engagement, conversion, acquisition cost, and return on ad spend, you’ll gain the…
Welcome to the thrilling and dynamic world of Business Analytics – a frontier of in-depth understanding, insightful discoveries, and strategic decision-making that form the core of successful organisations across the globe. Business Analytics is the systematic exploration of an organization’s data with emphasis on statistical analysis. It involves utilising methods and practices focused on enhancing business performance by driving practical and strategic changes.
Business Analytics broadly encapsulates topics such as descriptive analytics, which uses data to understand past behaviour and predict future outcomes; predictive analytics, which utilises statistical models and forecasts to understand future performance; and prescriptive analytics, that uses optimisation and simulation to advise on possible outcomes. The potency of Business Analytics lies in its ability to make data-driven decisions – a competitive edge that empowers companies to fulfil consumer needs, streamline operations, and improve financial performance.
The market for business analytics is burgeoning as more organisations recognise the potential of data-driven insights. According to a report by Fortune Business Insights, the global business intelligence (BI) market, a critical aspect of business analytics, is expected to grow from USD 20.516 billion in 2021 to USD 39.35 billion by 2028, at a CAGR of 9.5% during the forecast period. This rise is due to the increasing integration of AI and Big Data, alongside the growing demand for cloud-based services.
However, to harness this power, businesses often require bespoke solutions – a custom fit rather than a one-size-fits-all approach. An off-the-shelf software, while serving a multitude of general applications, may not cater to unique business models and industry-specific use-cases. This is where a tailored software, app, or web solution brings tailored capabilities that are often missing in conventional systems. The bespoke approach can streamline operations, improve data analysis, and lead to more focused and effective decision-making.
It’s crucial for the technology to adapt to the organisation, rather than the organization moulding itself to fit the technology. Herein lies the distinct advantage of custom solutions within the world of business analytics.
Indulge yourself further with our insightful array of blog posts and articles on Business Analytics. We extend an open invitation to delve into our broader blog section. Should you wish to discuss any aspect further, or want to explore what ‘custom-made’ could mean for your organisation, feel free to get in touch with us, and let’s embark on this intriguing journey together.