Analytics is the process of discovering the meaningful patterns which can be found in data. It is concerned with turning raw data into insights for making better decisions. Analytics relies on the application of statistics, programming, and research to quantify and understand the meaning of data. Analytics is especially useful in areas that receive or use a lot of data. It provides us with significant insight into large bodies of structured and unstructured data and makes sense of it all. Analytics is used to find a hidden “pattern” within huge amounts of data.
Data Analytics helps businesses gather information about customer, employee, sales, buying, patterns based on data that may or may not exist in the Datawarehouse and hence may not exist in current reports. Data is the new currency of today. Data analytics is the result of decision-makers thinking outside standard operations of the business. A data analyst might create an interface and pull data from one or more transactional systems into a temporary location to then be pulled into the data warehouse. Tools such as Excel, R, Python, and SQL are commonly used to produce different views and to identify data patterns.
Business Intelligence (BI) includes other areas of data exploration such as machine learning and statistics, forecasting, predictive analysis, master data management, mobile, embedded data visualization, and database technology like No SQL. The bottom line is that BI is not simply a single type of software. It is a group of applications that are used to transform data into information that can be made readily available to a company’s employees to monitor and execute their functions effectively.
Data Visualization is the graphical and numeric presentation of data aggregates. There are 3 ways business users consume data using data visualization:
- Dashboards are a single page view of key metrics represented by tables, charts, colors, and numbers; arranged and consolidated in such a way that the consumer can identify and focus on areas requiring immediate attention or more investigation.
- Multi-column report which displays a list of transactions that has taken place between a certain date range, within a specific location or region, or by sales rep.
- Alerts that prompt users to act or do further investigation. This is called the Exception Rule where one key metric provides a warning that an event has just taken place that exceeds a meaningful or self-defined threshold.
Some of the areas where companies will find analytics helpful are:
- Customer Insights
- Fraud and Risk Analysis
- Advertisement and Marketing
- Enterprise Decision Management
- Market Optimization and Modeling
Wise Men provides the following Analytic services:
Modern Analytics Platform
Modernize analytics with cloud, flexible architecture, to streamline business insights from data thereby reducing costs.
Your reports are only as good as the quality of the data and the key in reporting, metric formulation, business definitions, and reconciliation of data. Wise Men helps our clients reinforce quality across data governance, master data management, and technology components.
Data science and machine learning can unlock the predictive power of data. Achieve cost-effective automation and process improvement through Wise Men’s Machine Learning Software Development Life Cycle
Business Intelligence and Visualization
Well-designed visualization enables users to retrieve valuable information that may not have been previously identified or clarified, which allows users to make more informed decisions and execute key business findings.
Support and Maintenance
We offer support and maintenance services specifically for Data & Analytics solutions. This includes SLAs, fractional support, blended offshore/onshore teams, as well as architecture and advisory services.
Data Quality and Security
- This Service application software improves the quality of data across the enterprise.
- As part of the information management layer of SAP’s Business Technology Platform, it delivers trusted, relevant, and timely information to drive better business outcomes.
- It improves decision-making and operational efficiency by standardizing and matching data to reduce duplicates, identify relationships, and correct quality issues proactively.
- SAP Security is a balancing act for protecting the SAP data and applications from unauthorized use and access.
- SAP offers different tools, processes, and measures for security check to protect these data.
- SAP security helps to ensure that users can only use the functionality of SAP which is a part of their job.