Business Domain Analytics
Technology today has advanced by leaps and bounds. It has made the entire world smaller and easier to reach, but it has also churned out data in enormous volumes. At present, there are 2.5 quintillion bytes of data that is created daily. Such data is useless until it is put in some order and analyzed. When it is so analyzed, it is likely to provide valuable insights for different areas of a business. It is here that data analytics comes to the fore. It is a vital tool in the hands of a business enterprise, and its potential areas of application are increasing rapidly.
What is Business Domain Analytics?
Business domain analytics includes analytics applied to business functionalities and processes. Let’s take a look at some features of business domain analytics
What is Business Domain Analytics?
Business domain analytics includes analytics applied to business functionalities and processes. Let’s take a look at some features of business domain analytics
Benefits for Business Domain Analytics
Improving the Customer Experience
Mitigating Risk Fraud
Personalization Service
Respond to customer requests grievances
Predict Future Challenges
Real time Forecasting and Monitoring
Business Domain Analytics in 2022
The industry giants – Microsoft, Google, IBM, Amazon, and Oracle – are still leading in the global analytics market shares. Microsoft, Amazon, and Oracle are additionally outperforming the market for all other vendors. However, it’s interesting to note that the battle among the top analytics vendors is not over “sophisticated algorithms,” but over Data Quality.
Business Domain Analytics Trends
Data Literacy
Businesses have realized the value-added benefits of data-driven decisions and data-powered, actionable intelligence. Now they want to empower all levels of their organization with powerful Data Literacy programs, so that business users are able to make informed decisions in their daily work lives without the help of IT or Data Science teams.
Collaborative BI
Social media channels and interactive websites have prompted businesses to quickly collect customer data, customer preferences, and customer sentiments. When such powerful data work is in conjunction with advanced (collaborative) BI tools, collaborative BI is in action.
Embedded Analytics
According to Allied Market Research Report, the global embedded analytics market has been projected to reach US$60 billion by 2023. Embedded analytics, by virtue of being “resident” within native applications, enables speedy data analysis without any data movement from one software environment to another.
Widespread Cloud and SaaS Adoption
In 2021, more and more businesses have migrated to either hybrid cloud or public cloud and have started subscribing to Software as a Service (SaaS) plans for outsourced BI services.
AI Integration in Mainstream BI
AI technologies have penetrated every facet of the business today—whether it’s a recommendation engine, automated data preparation, augmented analytics, or neurolinguistic programming-guided reports. AI has truly democratized Data Science activities.
Automation in Analytics and BI
In 2020, 64% of large organizations used AI to automate data analysis, which is a significant rise from the 2019 figure of 55%. Automation is vital for large scale analytics projects, where manual labor will lead to inefficiencies and wasted efforts. In such cases, the human staff will be more useful as data-driven decision-makers.
Mobile-Friendly BI
According to Mordor Intelligence, the mobile BI market will exceed $20 billion by 2024. Mobile devices like smart phones and tablets “are estimated to comprise more than 72% of internet traffic,” so it makes good business sense to deploy mobile-friendly BI platforms across the organizations.
Our Business Domain Analytics offerings include
We work with companies across a wide variety of industry verticals to help them capitalize on the possibilities afforded by business analytics. We collaborate to deliver real-time analytics, business intelligence and assist them with governance, rick and compliance. We collect and analyze market information quickly, so that it yields relevant business insights at reduced costs. Our dedicated team of data scientists and analytics experts offer a full suite of customized business analytics solutions. They can help you to monitor your analytics, create dashboards and provide continuously-updated reports. This allows you and your stakeholders to make better business decisions. All you have to do is decide to contact us today.
Advertising Analytics
Risk analytics
Data Driven Decision Making
Enterprise Mobility
Self-service Analytics
Data Science and Machine Learning
Have A Query?
Do you need a detailed consultation or feasibility study for this topic? Or it maybe you just want to exchange views and thoughts on this topic. Do get in touch with us and we would be glad to share a cup of coffee together and discuss this topic together.
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