Growing businesses often need a system with which they can collect, analyse and report data in a systematic manner.
This includes, predictive analysis, retrospective analysis and overall actions that need to be taken post-analysis, to reach the goals. With the help of these statistics, the business can formulate possible solution and strategize most appropriate solutions.
Any analysis is based on accurate and relevant data provided by the data analysis solutions.
Business Data Analysis and its Drawbacks
It is the age of Big Data and data analysis. However, the strategic impact of business data analytics isn’t as evident. At times data analysis can be inaccurate, given the shortcomings in the data provided, there is a scope for miscalculations. Hence, results can sometimes turn out to be inaccurate.
However, if the data is correct, your business can get insightful forecasting statistics with data analysis. And once you have a clear understanding of their business trajectory, you can focus on aspects like inventory management accordingly. However, if the predictions turn out to be incorrect, the business can suffer.
Another drawback of data analytics is that it can be complicated if you have just started a business and are just learning the nuances of analytics and data mapping.
Here is where the role of guided data exploration comes into picture.
What is Guided Data Exploration?
Guided data exploration helps you make data related findings and insights, which can be published and distributed across the entire organisation. It is similar to initial data analysis; however, it uses visual exploration methods to analyse the datasets and their properties.
The best thing about guided data exploration is that it uses AI to come up with the best solutions and outcomes while also providing an accurate representation through graphs and charts.
Another advantage that guided data exploration has over data analysis is that it is able to sort and dissimilar data to provide accurate results.
How Does Guided Data Exploration Work?
For one, guided data exploration solutions like IBM Cognos has one thing that a normal data solution does not; AI. It has an AI engine that is integrated with the system to provide data synthesis and natural language Q&A.
Solutions like IBM Cognos can easily be integrated with other compatible tools such as Slack which enables you to share their findings with the organisation.
At times, when a particular analysis requires additional data which is available externally, IBM Cognos, with the help of its AI integration system pulls data from external sources to complete the task.
What makes guided data exploration solutions such as IBM Cognos extremely efficient is that it provides all the access on a single, user-intuitive interface.
This is not all, IBM Cognos helps in the automation of complicated tasks so that the analytics become more accessible to you, with the help of the latest technological advancements such as pattern detection, machine learning and augmented intelligence.
You can feed data by simply talking to its virtual assistant which recognises questions and statements as queries and data that it employs to provide the desired outcomes.
To sum up, whether you own a business that is at its initial stages, or a seasoned organisation; guided data exploration solutions such as IBM Cognos is a one-stop shop which provides detailed yet easy to understand dashboards and visualizations.
Hence, it is no surprise that guided data exploration solution is the winner here and switching from data analysis solutions to this, is a wise move.
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