Business intelligence is a form of data analysis, the goal is to shorten the time from business data to business decisions and use data to influence decisions.
Big Data Analytics
One way for companies to stay competitive is to invest in business intelligence data analytics. Big data refers to large volumes of both structured and unstructured information, which is produced in a business regularly.
It is worth remembering that the volume of data is not as significant as what a business is capable of doing with that information. The benefits of big data analytics include obtaining all of the information your business requires to make positive business decisions and empowers you to make strategic moves. As a result, these positive decisions facilitate you to be innovative and heightens business productivity.
Big data analytics further offers you insight into the satisfaction level of your customers. Some companies have even modified their products, services and marketing strategy based on the data analytics, in order to reflect the likings of their consumers.
A business that can identify and adapt to changes in industry and consumer trends will have an ultimate advantage. To stay in the competitive race, it is important for any sizeable business to invest in data, and analyse this insight to ensure they are aware of the micro and macro trends affecting the market.
With the use of big data, distributors can maximise efficiency and reduce error, which will accelerate business decision making in a timely and accurate format.
The use of big data
The improved accessibility to big data platforms and big data analytics software is benefiting businesses with the collection and analysis of data to mine useful business data and insights in order to further improve their product and service offerings.
The benefits of big data analytics software include efficient analysis of collected data and the development of predictive and prescriptive models to further enhance overall productivity and value of a business.
The idea of big data has been looming for numerous years.
Organisations today ensure that they secure all the data which flows into their business, in order to exploit analytics and acquire substantial value from it. Before big data, enterprises were only implementing basic analytics such as numbers in a worksheet in order to discover trends and insights.
Big data analytics is a process through which businesses can examine huge amounts of data in order to discover correlations, hidden patterns, market trends and other useful insights. Businesses that implement big data analytics often unveil benefits including revenue opportunities, effective marketing campaigns, better customer service delivery, and more efficient operations.
The Populous World XBRL platform (PXP)
The Populous World XBRL platform (PXP) provides datasets and analysis tools in a cost-effective way, so that businesses of all magnitudes can access the vast array of publicly available data and present it in an easily digestible format to them make decisions that will drive their business forward.
The developers at Populous World have created the PXP platform in a way that allows skilled researchers to offer their services via the platform, resulting in users benefiting in high-quality reports. It also enables business owners who complete reports for their own use to sell these reports via the system to other users of the platform, which will then help to recover some of their investment in the service.
By way of an example, the information your business can obtain by creating visual reports from the PXP platform include the following:
Industry specific report: 1. Report based on a specific type of business
2. Industry trend from prior years
3. Treemap comparison and other visual displays of statistical data including mean and median sales, receivables and payables
4. Top 3 largest charges provider of a certain industry
5. Heat map of the largest and most players of a particular sector are located
6. Linkage to census data to the heat map to show areas where the players are most concentrated along with the description of the areas
>>Does your organisation need big data analytics tools to make faster, intelligent decisions?<<
With PXP you can make your data easier to understand, simpler to communicate, and much more useful. You can create a company credit report containing company financial accounts and information – this includes a company credit score, built with multiple financial and non-financial datasets that take into account a company’s financial strength