The document discusses how businesses need the right data and tools to make fast, data-driven decisions during uncertain times. It outlines some common issues that prevent businesses from realizing a data-driven agenda, such as long delays in accessing and preparing data from different siloed sources. Modern unified analytics platforms can help solve these problems by providing quick access to raw integrated data from multiple sources and empowering business users to independently explore and analyze the data.
Executive Overview
Analytic strategies are at the core of digital innovation. It is a building block in digital manufacturing, autonomous supply chains, and digital path to purchase. New forms of analytics are defining new capabilities.
Traditional supply chains do not sense. They respond. The response is usually late, and out of step with the market. Today’s supply chains are dependent on structured data and Excel spreadsheets. Despite spending 1.7% of revenue on Information Technology (IT), Excel ghettos are scattered across the organization. Most organizations are held hostage by long and grueling ERP implementations only to find out at the end of the project that the business users cannot get to the data.
The traditional supply chain paradigm is an extension to the three-letter acronyms which dominated the client-server architected world of the 1990s—ERP, APS, PLM, SRM, and CRM—while the more enlightened business user understands that analytics are not an extension of yesterday’s alphabet soup.
Historically, analytics has only meant reporting. In contrast, today, analytic strategies are at the core. As analytics capabilities morph and change, analytics technologies are at the core of the architecture, sandwiched between the conventional applications and workforce productivity tools as shown in Figure 2.
Figure 2. Analytic Strategies at the Core of Digital Transformation
Current State
Today, the focus of analytics implementations is on data visualization, unstructured data mining, and data lake technologies. As will be seen in this report, this is rapidly changing. Within five years, the most disruptive technologies will be Blockchain and cognitive computing. New forms of analytics will make many of today’s technology approaches obsolete. Few companies, mainly early adopters, are working in these areas.
Business Intelligence (BI): Your Home Care Agency Guide to Reporting & InsightsAlayaCare
This 15-page document will inspire and guide you through WHAT business intelligence (BI) is, and WHY data analytics should be top of mind for your home care agency. Furthermore, this guide will help you answer HOW you know it’s time to consider looking into a BI tool, while providing you with a few tips and tricks to get started.
Now companies are in the middle of a renovation that forces them to be analytics-driven to
continue being competitive. Data analysis provides a complete insight about their business. It
also gives noteworthy advantages over their competitors. Analytics-driven insights compel
businesses to take action on service innovation, enhance client experience, detect irregularities in
process and provide extra time for product or service marketing. To work on analytics driven
activities, companies require to gather, analyse and store information from all possible sources.
Companies should bring appropriate tools and workflows in practice to analyse data rapidly and
unceasingly. They should obtain insight from data analysis result and make changes in their
business process and practice on the basis of gained result. It would help to be more agile than
their previous process and function.
Trying to figure out if embedded analytics are for you?
According to Gartner Research, more than 90% of business leaders view content information as a strategic asset, yet fewer than 10% can quantify its economic value. Read this guide to learn why you should be leveraging an asset you already own--data--to build relationships, increase retention, and drive revenue.
Executive Overview
Analytic strategies are at the core of digital innovation. It is a building block in digital manufacturing, autonomous supply chains, and digital path to purchase. New forms of analytics are defining new capabilities.
Traditional supply chains do not sense. They respond. The response is usually late, and out of step with the market. Today’s supply chains are dependent on structured data and Excel spreadsheets. Despite spending 1.7% of revenue on Information Technology (IT), Excel ghettos are scattered across the organization. Most organizations are held hostage by long and grueling ERP implementations only to find out at the end of the project that the business users cannot get to the data.
The traditional supply chain paradigm is an extension to the three-letter acronyms which dominated the client-server architected world of the 1990s—ERP, APS, PLM, SRM, and CRM—while the more enlightened business user understands that analytics are not an extension of yesterday’s alphabet soup.
Historically, analytics has only meant reporting. In contrast, today, analytic strategies are at the core. As analytics capabilities morph and change, analytics technologies are at the core of the architecture, sandwiched between the conventional applications and workforce productivity tools as shown in Figure 2.
Figure 2. Analytic Strategies at the Core of Digital Transformation
Current State
Today, the focus of analytics implementations is on data visualization, unstructured data mining, and data lake technologies. As will be seen in this report, this is rapidly changing. Within five years, the most disruptive technologies will be Blockchain and cognitive computing. New forms of analytics will make many of today’s technology approaches obsolete. Few companies, mainly early adopters, are working in these areas.
Business Intelligence (BI): Your Home Care Agency Guide to Reporting & InsightsAlayaCare
This 15-page document will inspire and guide you through WHAT business intelligence (BI) is, and WHY data analytics should be top of mind for your home care agency. Furthermore, this guide will help you answer HOW you know it’s time to consider looking into a BI tool, while providing you with a few tips and tricks to get started.
Now companies are in the middle of a renovation that forces them to be analytics-driven to
continue being competitive. Data analysis provides a complete insight about their business. It
also gives noteworthy advantages over their competitors. Analytics-driven insights compel
businesses to take action on service innovation, enhance client experience, detect irregularities in
process and provide extra time for product or service marketing. To work on analytics driven
activities, companies require to gather, analyse and store information from all possible sources.
Companies should bring appropriate tools and workflows in practice to analyse data rapidly and
unceasingly. They should obtain insight from data analysis result and make changes in their
business process and practice on the basis of gained result. It would help to be more agile than
their previous process and function.
Trying to figure out if embedded analytics are for you?
According to Gartner Research, more than 90% of business leaders view content information as a strategic asset, yet fewer than 10% can quantify its economic value. Read this guide to learn why you should be leveraging an asset you already own--data--to build relationships, increase retention, and drive revenue.
What is Business intelligence
Core Capabilities of Business Intelligence
Elements of Business Intelligence
Why Companies opt for Business Intelligence
Benefits of Business Intelligence
User of Business Intelligence
Reports of Business Intelligence
Business Application in Extended Enterprise
Business Analytics
Golden Rules for Business Intelligence
5 Stages of Business Intelligence
Challenges Of A Junior Data Scientist_ Best Tips To Help You Along The Way.pdfvenkatakeerthi3
One of the most fascinating fields today that is enabling businesses to improve their operations is data science.
Databases, network servers and official social media pages.
Most companies have data in various sources. Often, they do nothing but store the data because it takes too much time to make sense of it all. Taking control of the data is a process, but once the building blocks are in place a true Demand Signal Management Process will support an enterprise with reliable business insights.
Data science and data analytics professionals enable organizations to utilize the potential of predictive analytics to make informed decisions & help in transforming analytics maturity model of the organization.
Semantic 'Radar' Steers Users to Insights in the Data LakeCognizant
By infusing information with intelligence, users can discover meaning in the digital data that envelops people, organizations, processes, products and things.
Semantic 'Radar' Steers Users to Insights in the Data LakeThomas Kelly, PMP
By infusing information with intelligence, users can discover meaning in the digital data that envelops people, organizations, processes, products and things.
I have been drinking from a virtual fire hose since joining my most recent technology company, Anametrix, a cloud-based digital analytics innovator. A whole new book opened for me on how digital analytics can both increase top line revenue and reduce spend by shining a very bright flashlight into marketing efforts.
We are all painfully aware of the data explosion problem. In 2011, the Gartner Group stated that information volume collected by businesses today is growing at a minimum 59% annually. The rapid adoption of social media has also caused customer data to explode in the last few years, creating entirely new challenges for marketers. It is now imperative for organizations to think differently to accommodate the variety, volume, and velocity of their growing customer-related data.
This is where my recent experiences come in: I have personally seen how digital analytics can harness the power of massive amounts customer-related data. It can literally simplify the accelerating complexity by providing deep visibility – as well as clarity – into the effectiveness of various marketing efforts, across both online and offline channels.
I will now outline the role of IT and CFO in adopting cloud-based digital analytics solutions, discuss the benefits as well as challenges of moving to this emerging category, and provide some illustrative examples on how digital analytics can transform your marketing organization.
In2In Global is a global data transformation service provider, leveraging best quality of data transformation and enrichment solutions like Data profiling, Cleansing, Normalization, Classification and effective actionable Insights in fully automated and consulting approaches.
The Business Data Lake is a new approach to information management, analytics and reporting that better matches the culture of business and better enables organizations to truly leverage the value of their information.
how to successfully implement a data analytics solution.pdfbasilmph
The adoption of data analytics in business has demonstrated a transformative power in modern entrepreneurship. By analyzing vast reservoirs of data, businesses can make informed decisions, optimize operations and predict trends, thus fueling growth.
What is Business intelligence
Core Capabilities of Business Intelligence
Elements of Business Intelligence
Why Companies opt for Business Intelligence
Benefits of Business Intelligence
User of Business Intelligence
Reports of Business Intelligence
Business Application in Extended Enterprise
Business Analytics
Golden Rules for Business Intelligence
5 Stages of Business Intelligence
Challenges Of A Junior Data Scientist_ Best Tips To Help You Along The Way.pdfvenkatakeerthi3
One of the most fascinating fields today that is enabling businesses to improve their operations is data science.
Databases, network servers and official social media pages.
Most companies have data in various sources. Often, they do nothing but store the data because it takes too much time to make sense of it all. Taking control of the data is a process, but once the building blocks are in place a true Demand Signal Management Process will support an enterprise with reliable business insights.
Data science and data analytics professionals enable organizations to utilize the potential of predictive analytics to make informed decisions & help in transforming analytics maturity model of the organization.
Semantic 'Radar' Steers Users to Insights in the Data LakeCognizant
By infusing information with intelligence, users can discover meaning in the digital data that envelops people, organizations, processes, products and things.
Semantic 'Radar' Steers Users to Insights in the Data LakeThomas Kelly, PMP
By infusing information with intelligence, users can discover meaning in the digital data that envelops people, organizations, processes, products and things.
I have been drinking from a virtual fire hose since joining my most recent technology company, Anametrix, a cloud-based digital analytics innovator. A whole new book opened for me on how digital analytics can both increase top line revenue and reduce spend by shining a very bright flashlight into marketing efforts.
We are all painfully aware of the data explosion problem. In 2011, the Gartner Group stated that information volume collected by businesses today is growing at a minimum 59% annually. The rapid adoption of social media has also caused customer data to explode in the last few years, creating entirely new challenges for marketers. It is now imperative for organizations to think differently to accommodate the variety, volume, and velocity of their growing customer-related data.
This is where my recent experiences come in: I have personally seen how digital analytics can harness the power of massive amounts customer-related data. It can literally simplify the accelerating complexity by providing deep visibility – as well as clarity – into the effectiveness of various marketing efforts, across both online and offline channels.
I will now outline the role of IT and CFO in adopting cloud-based digital analytics solutions, discuss the benefits as well as challenges of moving to this emerging category, and provide some illustrative examples on how digital analytics can transform your marketing organization.
In2In Global is a global data transformation service provider, leveraging best quality of data transformation and enrichment solutions like Data profiling, Cleansing, Normalization, Classification and effective actionable Insights in fully automated and consulting approaches.
The Business Data Lake is a new approach to information management, analytics and reporting that better matches the culture of business and better enables organizations to truly leverage the value of their information.
how to successfully implement a data analytics solution.pdfbasilmph
The adoption of data analytics in business has demonstrated a transformative power in modern entrepreneurship. By analyzing vast reservoirs of data, businesses can make informed decisions, optimize operations and predict trends, thus fueling growth.
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Empowering the Data Analytics Ecosystem: A Laser Focus on Value
The data analytics ecosystem thrives when every component functions at its peak, unlocking the true potential of data. Here's a laser focus on key areas for an empowered ecosystem:
1. Democratize Access, Not Data:
Granular Access Controls: Provide users with self-service tools tailored to their specific needs, preventing data overload and misuse.
Data Catalogs: Implement robust data catalogs for easy discovery and understanding of available data sources.
2. Foster Collaboration with Clear Roles:
Data Mesh Architecture: Break down data silos by creating a distributed data ownership model with clear ownership and responsibilities.
Collaborative Workspaces: Utilize interactive platforms where data scientists, analysts, and domain experts can work seamlessly together.
3. Leverage Advanced Analytics Strategically:
AI-powered Automation: Automate repetitive tasks like data cleaning and feature engineering, freeing up data talent for higher-level analysis.
Right-Tool Selection: Strategically choose the most effective advanced analytics techniques (e.g., AI, ML) based on specific business problems.
4. Prioritize Data Quality with Automation:
Automated Data Validation: Implement automated data quality checks to identify and rectify errors at the source, minimizing downstream issues.
Data Lineage Tracking: Track the flow of data throughout the ecosystem, ensuring transparency and facilitating root cause analysis for errors.
5. Cultivate a Data-Driven Mindset:
Metrics-Driven Performance Management: Align KPIs and performance metrics with data-driven insights to ensure actionable decision making.
Data Storytelling Workshops: Equip stakeholders with the skills to translate complex data findings into compelling narratives that drive action.
Benefits of a Precise Ecosystem:
Sharpened Focus: Precise access and clear roles ensure everyone works with the most relevant data, maximizing efficiency.
Actionable Insights: Strategic analytics and automated quality checks lead to more reliable and actionable data insights.
Continuous Improvement: Data-driven performance management fosters a culture of learning and continuous improvement.
Sustainable Growth: Empowered by data, organizations can make informed decisions to drive sustainable growth and innovation.
By focusing on these precise actions, organizations can create an empowered data analytics ecosystem that delivers real value by driving data-driven decisions and maximizing the return on their data investment.
1. Incorta | eBook
NEXT LEVEL
DATA ANALYTICS
BREAKTHROUGH SOLUTIONS
TO MEET THE TOUGHEST IT AND
BUSINESS IMPERATIVES YET
2. .02 Incorta | eBook
M O T I VAT I O N
THE NEW DATA IMPERATIVE
The challenges of the past year—economic hardships, government shutdowns, and
social distancing — force business teams to think outside the box and embrace new
levels of creativity to address the disruption and uncertainty.
Agility and speed of decision-making have never been more important. Business leaders
need to move faster, dig deeper, innovate constantly, and be prepared to pivot and
transform overnight if they are to survive.
To move forward with confidence, they need the right data–and they need it delivered in
away that empowers them to independently discover, explore and act upon the data.
3. .03 Incorta | eBook
BRIDGING THE DATA GAP
What is holding businesses back from realizing a data-driven agenda?
Despite big investments in data initiatives, the data that business teams need is often
not available or delivered in time to make critical business decisions.
There are several fundamental issues:
• Access to Data. It takes too long for most organizations to make data available for
critical business decisions because traditional ETL and Data Warehousing projects
require scarce expert skills like design, engineering, testing, and training.
• Data Fidelity. Many analytics systems require data to be reshaped and flattened —
changed such that it doesn’t resemble the original. Not having access to the original
data opens issues of trust and makes it almost impossible to find and correct
problems with the data or the business itself.
• Data Silos. Gaining access to all of the necessary information sources is so difficult that
decision-makers often give up. They rely instead on flawed financial and operational
data that is incomplete and often different from what others have gathered.
The good news is that modern, unified data analytics platforms solve most of
these problems.
4. .04 Incorta | eBook
OVERCOMING THE TOOLS GAP
Even with the right data in-hand, business teams struggle because they are saddled
with legacy toolsets, complex solutions, or solutions that experts won’t touch.
Finding the right balance between ease-of-use, power, and extensibility has been
difficult because most buyers of analytics tools were traditionally very technical.
• Legacy Tools. Technical staff prefer to use specialized skills to select, configure and
stitch solutions together, using existing investments. Unfortunately, this doesn’t
help business teams become more agile. If anything, it makes them even more
dependent on solutions they don’t understand.
• Too Complex. Data analysis tools are still too complex for many business users
without extensive training — if they even attempt to use the tools at all. So they
settle for spreadsheets instead. And this means more data copies and not being
able to freely navigate all the data or collaborate with their peers. Teams can’t be
agile if they can’t self-service their own data needs.
• Not Robust. Some self-service data analysis products are relatively easy to use, but
can’t grow beyond a departmental solution. They lack the performance and security
required by IT departments and aren’t attractive to advanced practitioners like data
engineers and data scientists.
5. .05 Incorta | eBook
BUSINESS TAKES THE LEAD
A clear and distinct back-to-basics trend is happening as business leaders are forced to
take action.
Teams that were once content to wait for their IT experts to gather, prepare and deliver
data no longer have time to wait. They need data now to make the strategic decisions
that will ensure business survival.
Non-technical business leaders are now assuming a lead role in new data analysis
initiatives. They drive innovation and change in their companies and move faster with
more confidence as they become increasingly data-driven.
New, modern data and analytics technologies empower business people to ask
questions of their data in real-time. They are gaining the ability to access all data and
explore, drill in, and discover insights without having to call up an expert every time
they have a new question.
6. .06 Incorta | eBook
T E R M S A N D C O N C E P T S
SPEAKING ANALYTICS LIKE A PRO
When speaking with vendors and technical people about your data needs, you want to
separate modern concepts from legacy techniques that will hold you back.
Extract-Transform-Load (ETL) — This is an old data ‘pipeline’ concept that says we
should (E) gather all the raw data we need1
, then (T) run a process to transform
(reshape, combine) the data into a new format that is optimized for the questions we
need to answer, then (L) load that data into a data warehouse2
.
Data Warehouse — A type of database that is set up for data analysis (vs. transaction
processing) which contains processed and curated data from potentially many different
sources. It is meant to be authoritative and may retain large amounts of historical data.
The problem to be aware of with both ETL and Data Warehousing is that you lose all
connections to your original data, and worse, you can only find answers to questions
that the data model was designed for.
Data Lake — A designated storage area for mostly raw data coming from potentially
many different sources. The data is stored as-is, without processing, but in a compressed
format that is organized for quick reading. Advances in technology make it possible to
run all different kinds of analysis on this data, promoting flexibility and agility.
1
Instead of doing a database query on the source system that might combine, filter and/or aggregate the results before we
get them.
2
A slightly more modern variant of ETL is Extract-Load-Transform (ELT) which defers the transformation step until all the
data is in a database or data lake, such that the transformations can be created on an as-needed basis, enabling faster
experimentation but requiring a high level of skill and potentially higher computing costs.
7. .07 Incorta | eBook
BUSINESS INTELLIGENCE
VS. ANALYTICS
A couple more terms that are often thrown around interchangeably are Business
Intelligence (BI) and Analytics. It is important to understand the differences.
In general, BI is simple reporting that focuses on answering the question, “what
happened?” For example, “how much did we sell last month?” “Who are our
biggest customers?” BI is often available directly from accounting systems. In large
organizations, you may need to pull from many systems for consolidated reporting.
On the other hand, Analytics generally means taking two or more metrics or data
streams and combining them together to realize a fresh insight, or show a facet of the
business that is not readily visible. For example, “how does geography affect the sales
of heavy coats versus socks on a seasonal basis?” In this example, we are combining
three separate pieces of data: the geography or region, the sales figures, and the time
of year or the season. Analytics focuses on “why” questions and can help spot trends
and enable a more forward-looking business approach.
In this eBook, we assume you are looking to make better decisions about the future of
your business, so we are talking about Analytics.
8. .08 Incorta | eBook
DATA BY ANOTHER NAME
As you progress along your analytics journey, you will constantly encounter two broad
types of data. An understanding of these terms will help you work with analytics tools
and expert practitioners.
In the classic dimensional model used by data warehouses, there are two major
categories of data that each serve a different analytical purpose:
Dimensions — Sometimes called attributes, dimensions are used to slice the data into
meaningful contexts, and represent various facets of the business such as product
categories, sales territories, fiscal quarters, organizations, or transaction types. An
example would be slicing total revenue by the month and region dimensions.
Measures — Sometimes called facts, measures are numerical values such as currency,
quantities, and percentages that are combined with dimensionality to arrive at
reportable business metrics. For example, we can report on the percentage of product
returns (measure) per month (dimension).
There is one other term that often causes confusion:
Key Performance Indicator — A KPI is just a special case of a metric. Let’s say we set
a goal to keep monthly product returns under 5%, and we further decide that this is
critical for business success. Keeping an eye on KPIs keeps our business healthy. KPIs
are often represented as a single number on a dashboard, and this type of formatting is
sometimes called a “KPI.”
Even if the chosen analytics platform does not utilize a dimensional model, these terms
are prevalent in most analytics tools.
9. .09 Incorta | eBook
ROOT CAUSE ANALYSIS
As you develop your business metrics, numbers that don’t look right will sometimes
appear. You want the ability to find the source of bad numbers so that problems can be
readily identified and solved.
Problems in your metrics will be either due to a data problem, or a business problem.
Data problems can include missing transactions, data that wasn’t entered properly,
or a problem with data formats. A business problem might be a missing shipment, a
systemic shortage of capacity, or a broken business rule that is causing transactions to
be coded incorrectly.
Regardless of the type of problem, you want to be able to identify the source of the
problem, solve or fix it, and then potentially implement changes to avoid problems
in the future.
These are the essentials of Root Cause Analysis. The critical capability that you need
is the ability to open up the details behind any metric, “drilling down” all the way to
individual detail transactions if necessary. You might need to take action with an
individual customer, or there might be a problem with how certain transactions are
being transferred to your analytics system.
An analytical system that retains linkages back to all of the underlying detailed data,
or even better, a system that performs analysis directly against detailed data, will
provide you with the ability to fully explore your data, and find those needles in your
data haystack.
10. .10 Incorta | eBook
HOW TO BEFRIEND IT PEOPLE
At some point in your analytics journey, you will likely need to work with IT people for
expert help or to access additional data. Understanding their concerns will help you
move your project forward without delays.
IT folks are in a tough bind. On the one hand, they are responsible for how well the
organization is using data to make good decisions and drive the business forward. On
the other hand, they are held accountable for any security breaches, system downtime,
errors and a host of other scary possibilities. It’s a thankless job.
Security is important for certain types of data sources. Sometimes systems contain
personally identifiable information (PII), and due to privacy laws, IT people are generally
not going to entrust this data to you.
There are a couple of ways around this. One way
is to ask a data engineer to set up a view3 in the
source system that excludes the sensitive data.
Another way is to ask IT to set up your analytics
system so that it exactly replicates the security
present in the source system.
Your IT partners will want to help you make your system better, with more data and
more accurate calculations, because it will save them time and money over the long run.
A system that any business user can operate will save IT from repetitive work. And a
system with robust features will be able to grow and evolve with the company, and not
become yet another ‘legacy’ system that they have to clean up or replace later.
3
A view is a phantom data table that is derived from the base tables, and may exclude sensitive details. If they create
views, make sure the views are at the same level of detail as the base tables, and that they also set up joins.
Incorta can do this,
and is one of the few
analytics platforms that
large companies trust
with PII data.
11. .11 Incorta | eBook
S T E P S T O S U C C E S S
ACCESS YOUR RAW DATA
The first step towards agile analytics that will rock your (business) world is to
acquire data from all the systems you are using every day. Be ready for some raised
eyebrows.
When just starting out, begin with data from systems that you are familiar with. Your
department probably ‘owns’ the data, and so starting within your own domain lets you
verify analytical results yourself.
To connect to the data, you’ll need to fill in a form with information like a ‘system
name’ or ‘connection string’, username, password, and other options and settings. The
system administrator may just give you this information, or they may want to fill in the
information for you.
What is important here is that you gain access to all of the ‘raw’ or ‘unprocessed’
data, typically in the form of lots of related or joined data tables4
, and that you can pull
updated data any time you want.
Why do you want this? Because business today is crazy, and we are looking for game-
changers. We aren’t settling for the prepackaged answers that have been curated and
blessed by someone else who may not even be in your department.
Don’t let anyone talk you into waiting. “Hey, if you can just hang on for a couple of
weeks, we can have the data for you all cleaned up.” Don’t fall for it. Engineers, trying
to be helpful, will generally only give you what they think you need. Tell them very
politely, but firmly, that you really do want all of the data in its raw form.
4
Say “We want our data in Third Normal Form, or the closest thing to it” if you want technical people to know you mean business.
12. .12 Incorta | eBook
EXPLORING THE DATA
Why analyze data that isn’t organized and clean? Because raw, detailed data lends
itself to a more free-form iterative approach that prioritizes finding value above
careful process.
Traditional Business Intelligence and Analytics projects typically start with a fixed
set of questions, and then work to create a perfectly clean and efficient data model
to answer those questions. Ah, but what if I come up with a new question? Precisely.
We advocate a more modern, agile approach to analytics, because we can, and
because businesses are finding that it delivers results. The approach involves
acquiring data as it appears in the source system, and then iteratively pulling out
pieces of that data as needed, as opposed to engineering data transformations and
an intermediate data model upfront.
“As-is” data will be organized into many tables, usually related (or joined) together.
For example, a sales order record is typically joined to a customer record, a
product record, a salesperson record and so on to build up a complete picture of
the transaction. If the table joins were not automatically read in with the data,
you might need to check with your departmental application expert, consult the
documentation, or invite your analyst buddy to lunch and nicely ask them to make
some sense of it.
These data structures might look intimidating at first, but once you figure it out,
you’ll have the power and freedom to go anywhere with your data exploration and
discovery. Data Scientists understand the power of raw data and as citizen data
analysts, we want no less.
Now is a good time to try a few data explorations. As you work, check your results
against the source system to be sure you are arriving at the same numbers. Don’t wait for perfection.
The important thing is to start now, iterate, discover, and grow from there.
13. .13 Incorta | eBook
DECIDING WHAT TO MEASURE
How do you decide what to measure? Should you stick to what you are accountable
for? Should you use traditional markers of success? Or is there a measurement that
everyone else has missed?
Many times you don’t have a choice; you are given KPIs, or OKRs, or something else
to which you or your department is held accountable. This may even have been why
you started looking at the data in the first place.
Domain experts will have ideas based on experience of what to measure to
ensure business success and there are sometimes regulations that dictate certain
measurements. For example, an insurance company must measure loss reserves,
and can also measure various success metrics like the average time to settle a claim.
Also, industry associations are a good source of metrics. For example, if your
business involves a supply chain, the Association for Supply Chain Management
publishes the SCOR model which includes over 250 standard metrics calculations.
Consulting firms such as eCapital Advisors and analyst firms such as Gartner
publish industry-specific metrics and benchmarks.
Another interesting twist is in analyzing data from outside your firm. Many
companies with interdependent business operations share data. You can evaluate
not only your performance, but the performance of your suppliers, vendors, and
downstream customers, if appropriate.
However, the best analytical insights are those that shed new light on the business,
either to understand new growth opportunities, efficiency patterns or cost savings
opportunities. This is where analytics shines, when you combine two, three or even
four different factors together to discover something previously unseen.
14. .14 Incorta | eBook
HOW TO ANALYZE DATA
There are many different tools and techniques for analyzing data that go beyond adding up a column of numbers that
can lead to new discoveries.
Filtering and Sorting — A basic technique that you will turn to time and time again.
As an example, suppose you are analyzing sales data, and wish to focus on only the
current year’s data, in your sales territory only, and on customers who spend more
than $10,000 per month. Then you can sort this data by revenue amount. Could the
top customers represent your best upsell opportunities?
Aggregations — This involves computing a sum, count, or average for a particular
measure sliced by one or more dimensions that are meaningful to you. For example,
it might be useful for us to know which product categories are our best sellers by
region. Do men’s and women’s coats sell equally well in all regions? Are mountain
bikes popular in only some states? A Pivot Table, that puts dimensions along the
sides and top of a table, and values in the intersecting cells, is very handy for
viewing aggregated measures cut by two or more dimensions. A variation of the
pivot table is the Heatmap, which shows the hotspots in the table visually.
Trends — Most all transactions have dates, and different parts of the date (the year,
month, quarter, day of the week, week of the year, etc.) can be used as a dimension
for analysis. For example, what if we want to know the average sales order amount
(a measure) by each month (a dimension)? Is it going up or down? Can we detect
seasonality using a week-by-week analysis?
Correlations — One of the most powerful tools for analysis is to correlate two or
three different values to uncover patterns. Bubble Charts combine three different
measures along with one dimension. For example, we can plot product category
revenue by margin on the Y-axis, and average discount on the X-axis with the
bubble size representing total revenue. This might let us clearly see loss leaders and
identify any problems with our pricing strategy.
Above all, don’t be afraid to experiment, as trying new combinations of measures and dimensions with different chart
types can lead to unexpected insights.
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VISUALIZING THE DATA
Carefully choosing your data visualization style can both make it easier to interpret
data and cause people to interpret your data in different ways.
You might be familiar with bar charts and pie charts. But there are so many other
kinds of visualizations available that can help you tell a story with your data.
We already covered a very powerful kind of visualization, the Bubble Chart, in the
last section. The Scatter Chart is similar, but only plots two measures instead of
three, and is also great at revealing correlations.
Data that trends over time is often best shown using line charts, while comparisons
(for example, sales by category at a fixed point in time) are often best shown using
bar or column charts. Note that if your data has ‘holes’ in it, for example, your
monthly data is missing certain months because there were no transactions, then
Time Series charts will ensure that the missing values still maintain space in the
chart.
Showing the composition of many parts related to a whole is the classic use of a pie
chart. But did you know that you can also have multi-level pie charts (sometimes
referred to as Pie-Donut or Sunburst charts) that can represent, for example, both
categories and sub-category relationships in a single chart?
Other kinds of charts excel at representing geographical data (maps) and
chronological data (calendars and Gantt charts) and there are even combination
charts that can juxtapose two or more different styles in a single visualization.
The possibilities are almost endless, but the important thing to remember is that
different kinds of charts can be used to emphasize exactly the story you want your
data to convey.
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PUBLISHING YOUR RESULTS
After gathering, analyzing and visualizing your data, the final step is to display your
work, either to gain support for your decisions, or to allow others to reach their own
conclusions.
Creating an individual chart or data table, especially when you have uncovered an
insightful data pattern, can be very gratifying, but it may not be enough to tell the
whole story.
A complete presentation of the data may need multiple views or chart types, or the
addition of detailed data tables, or even the ability to filter the data to zoom in on
particular aspects. Grouping different data visualizations together is the job of a
dashboard.
A dashboard typically contains one or more charts, tables, maps, plots, gauges or
key metrics. It puts all the data together into a form that people can easily browse.
The goal is to arrange all the elements to maximize comprehension.
The ordering and organization of the visuals is important. The layout can either be
all on a single page, or across multiple tabbed pages. Tabs can break a larger data
analysis apart into smaller pieces that can be sequenced to reveal a data story
(sometimes this is called data storytelling.)
The key with dashboards is to keep it simple. There are many advanced products
that let you create dazzling infographics, but require talent in the graphic arts to
avoid creating a disaster. You want a dashboarding tool that delivers consistently
beautiful results without requiring too many choices.
You also want the flexibility to give users the ability to do their own filtering, and
drilling down into the data. For example, you might give the dashboard to a group
of regional managers — each manager is going to be interested in viewing the metrics for their region, and may want to
drill into the details by sales person, by customer, or by product category.
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WORKING WITH DATA EXPERTS
At some point, as your skill increases, you may decide that you need to bring advanced
practitioners into your project to improve the depth of your analysis.
While our primary message in this eBook is that business people need to take the lead
and just get started, there is certainly a time and place for more sophisticated techniques.
Data Analysts are experts at sifting through data to find correlations and identify trends.
They typically produce ‘Descriptive Analytics’ that answer the question: ‘What Happened?’
They are typically also experts both within their business domain, and with the software
platforms used. A data analyst might be able to suggest better ways to capture and
utilize the data coming from your systems of record, and might offer valuable ideas for
computing metrics and useful KPIs.
Data Scientists are typically experts at creating predictive models and in the correct
interpretation of data. They generally produce ‘Predictive Analytics’ that answer the
question: ‘What may happen?’ They are mathematical experts who are usually skilled at
writing advanced data enrichment logic. Data scientists can build experiments to see if it is
possible to accurately predict business outcomes or automatically handle routine decisions.
Both data scientists and data analysts prefer to use a platform that isn’t under-powered, and
will look for certain needed capabilities.
Data Analysts will want the ability to create sophisticated data derivations, statistics, and
computations that need to be done in stages and then the results stored. They might use
languages like SQL, or Scala to write complex data transformations.
Data Scientists love having access to lots of raw data. They like being able to easily
retrieve that data into their tools of choice, or perhaps work inside of an integrated
notebook with support for languages like R and Python.
By planning ahead, you can ensure that advanced practitioners will be able to do their
work in your chosen platform, and deliver results directly back into the business analytics,
saving you on cycle time, aggravation and costs.
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C O N C L U S I O N
CONSIDER INCORTA 5 FOR YOUR
DATA ANALYTICS
Incorta is a proven solution for IT teams seeking breakthrough
performance without the complexity, cost and proprietary lock-in
of other solutions. Incorta has evolved into a modern unified data
analytics platform with the ease-of-use that business users need
to gather, explore, discover and then act on their own initiative,
reducing the burden on IT.
The core attributes of Incorta that make it essential for line-of-business teams who want
agility without placing limits on growth:
• Access to all corners of the organization with over 200+ data connections easily
configurable.
• One platform. The most essential data analytics tooling in a single data experience.
• Easier to use than traditional alternatives; the ideal choice for universal deployment.
• Support agile analytics project methods with access to all original data.
• Can grow into an enterprise-wide solution with security and reliability.
• Attractive to advanced practitioners with integrated notebooks, language support,
integration options and support for on-premises, cloud and hybrid deployments.
The approach to business analytics that we have described in this eBook might seem
unorthodox, maybe even a little reckless to some, but thousands of people (some with
very conservative IT departments) are applying these modern, agile principles to data analytics every day, and achieving
incredible business results.
We invite you to prove out the value of Incorta today. Bring us your toughest data challenges and see immediate value.
Get Started.
19. A B O U T I N C O R TA
Incorta is the data analytics company on a mission to help data-driven enterprises be more agile and competitive by resolving
their most complex data analytics challenges. Incorta’s Direct Data Platform gives enterprises the means to acquire, enrich,
analyze and act on their business data with unmatched speed, simplicity and insight. Backed by GV (formerly Google Ventures),
Kleiner Perkins, M12 (formerly Microsoft Ventures), Telstra Ventures, and Sorenson Capital, Incorta powers analytics for some
of the most valuable brands and organizations in the world. For today’s most complex data and analytics challenges, Incorta
partners with Fortune 5 to Global 2000 customers such as Broadcom, Vitamix, Equinix, and Credit Suisse. For more information,
visit https://www.incorta.com
THE DIRECT DATA
PLATFORM
TM