94% of organizations believe data and analytics are critical to their business development and growth.
Your organization churns a lot of data to help you comprehend the subtleties of your industry. However, the conventional analytics model that deals with business data is slow, rigid, and expensive. Modern enterprises require a modern approach to business intelligence that can be both governed and scaled according to their needs.
Enterprises are gradually moving to self-service analytics and reporting tools, like EZlytix, for a long-term approach that fulfills the requirements of both the business and IT functions. Businesses need consistent access to information to drive decision-making. They need to promote a culture of analytics. Self-service analytics tools provide a few essential features that allow easier, faster, and accurate data analytics.
Features of Self-Service Analytics Tools
The traditional method to deal with business data isolates analytics to a specific group of people who are responsible for reporting and monitoring data. This thwarts the organization’s ability to make critical business decisions with speed.
For your data to be impactful, the process from analysis to the decision must be quick. The self-service analysis approach saves time on every stage of the work process, from installation to access, using intuitive dashboards, and sharing information across organizational departments.
Traditional frameworks can take months to set up, while self-service cloud-based tools such as EZlytix, are quick to install and take only a few hours. It allows enterprises to consolidate information from various sources quickly and easily. It allows them to utilize the in-memory capabilities to accelerate information processing.
Visualizations uncover insights that are unidentifiable in raw data. Without the right tools, it can be tedious to assemble data and gain substance out of it.
Interestingly, EZlytix presents data visualizations in a few simple steps. We allow companies to effortlessly spot discrepancies and patterns in the data without pouring over spreadsheets.
Users can exploit the data representations by penetrating deep into the information and producing shareable dashboards. The foundation of self-service analytics tools lies in the collaboration between business and IT. The result is a secure domain regulated by IT that bolsters not just the organization’s data authenticity but also enables individuals to answer basic questions.
Connecting any Data Set
Data is always growing in volume and variety. Conventional BI believes that data should be moved into consolidated data stacks. Modern BI tools accommodate different types of data gathered from multiple sources in the organization.
Current BI tools let you combine semistructured, relational, and crude data sources without costly integrations. It supports careful management of your information sources, permitting users to control and scale metadata to give a single source of truth for everybody. The final product is a simple, hassle-free, and user-friendly system that allows users to analyze information without knowing the intricacies of how the information is stored. EZlytix is a system that provides Managed-analytics-as-a-service for deep and diverse data analysis.
Traditional BI systems impede collaboration. With self-service analytics tools, you can modify and update dashboards quickly with simplified commands. Sharing is made easier with live dashboards that can be viewed on an internet browser or installed in cloud applications.
New and improved data analytics tools empower users to include their own estimations, make new groups, sets, and boundaries, filter data into hierarchies, and assign sub-users. With metadata that is organized in such a manner, users can exchange information easily and collaborate in real-time.
Organizations must implement some kind of harmony between data accessibility and security. They should standardize their data structures and adjust them as the business grows. Conventional data factories authorize severe restrictions on data and reports, only limiting access to specific groups.
Modern analytics tools view data governance as a significant step in creating a trusted environment for self-service analytics leading to accurate, accessible, and evaluated reports.
How And Why Should Enterprises Build A Culture Of Analytics?
Data is knowledge and when individuals are equipped to ask and answer questions using data to make decisions, it can open up endless opportunities.
This is where the culture of analytics comes into the picture. To fully establish this, a company needs to amalgamate its two most essential functions- people and IT. By giving employees access to information in a secure environment, governed by IT, it enables individuals to understand the fullest potential of the business.
These five steps are important in creating a culture of analytics-
1. Acknowledge IT’s role
With self-service analytics, companies don’t have to sacrifice governance. Instead, the former establishes a structure among IT and the business with emphasis on accomplishing a common objective through people, processes, and innovation.
With the modern approach to enterprise analytics, IT, and business cooperate.
IT creates a trusted environment for data and empowers the business to understand, analyze, and find the appropriate responses to questions.
2. Executive Sponsorship
Associations that utilize information to make decisions can understand their clients, take advantage of opportunities, and gain a competitive edge. Associations that have effectively embraced self-service analytics have achieved it through executive sponsorship.
A McKinsey Global Survey found that associations with the high-performing analytics programs have higher chances of getting CEO sponsorship for their analytics initiative. By sponsoring the analytics initiative, leaders can help their enterprise towards change.
3. Lay the Foundation
At the center of the culture of analytics is a self-service analytics platform that enables the whole organization. It is instinctive and simple to use and promotes in-depth analysis. It is characterized by an independent structure that empowers non-technical users to execute a full range of logical work processes by themselves.
4. Scale As The Business Grows
With the correct tool in place, you have more time to focus on the people and processes. Implement processes to maintain the parity of management and self-service as your data analytics grows. Embrace a versatile framework for managing business content. Formulate procedures for monitoring use. Finally, address any issues or gaps that hinder analytics.
5. Recognize Both Qualitative And Quantitative Data
Embracing a culture of analytics implies using data to make decisions but it doesn’t mean we stop relying on our instinct. In this culture, people value both empirical data and intuition. Any great systematic tool begins with a hypothesis, a hunch, that we can corroborate or invalidate using data.
Allowing people to analyze data enables them to face the bigger picture than themselves. The ability to provide excellent customer support or affecting positive change are examples of aligning your goal with your work. This is great for companies as commitment helps to make happier employees, increases productivity, and a better bottom line.
EZlytix provides the same, efficient capabilities at a fraction of the cost when compared to conventional analytical solutions. EZlytix captures, cleans, and screens compiled data from a variety of sources, thus freeing up your time for other resource-heavy tasks. The simplified, intuitive dashboards allow you to view and analyze data from your desktop, laptop, tablet, or smartphone.