Gone are the days when businesses across the world were guided by intuition. Be it loading up stocks in the inventory to deciding which products to sell in a particular season, decisions are no longer guided by a leader’s gut feeling. Neither is it guided by a mere expression of past experiences. Blame it on the demands of the market or fluctuating expectations of the customer, more scientific ways of doing business have emerged profoundly in the world.
One of the most widely known ways of taking business decisions resides in data. Data forms of the backbone of several businesses and it is the only way of moving forward in this fast-paced cut-throat market competition. Every action that a business takes generates data, and this is what happens when customers interact with a business. Every interaction, purchase or discussion generated data in today’s world. This generated data has many underlying statistical patterns that can be studied by businesses to figure out answers to some of the most challenging questions.
Data Analytics for Business
As a business, if you have decided to let data back your decisions, collecting it forms the first step. While it is not the toughest job to collect data, deriving insights is something that gives businesses a real ache. As fundamental as insights in the data can be to the growth of a business, they practically require a lot of effort to collect. But, it doesn’t have to be this way with the power of analytics in the picture.
Data analytics can work miraculously for businesses across the world. It can be the key to excelling at understanding the customer, scaling a business, earning a reputation in the market, skyrocketing sales and most importantly catering to the customer’s demands with more satisfaction. By the means of data analytics, businesses can perform classic exploration, iteration, and investigations of all sorts that ultimately leads to improved decision making.
Then comes the concept of business intelligence in the picture. Both data analytics and business intelligence are the means of harnessing cutting edge technology to derive meaningful insights. While data analytics deals with collecting, processing and analyzing the way available data can be used to process insights, it is ultimately business analytics that is used to make practical decisions for a company.
Both of these have one common task, increase the efficiency of an organization and make it more productive with the number of resources it already possesses. While data analytics works on the back of the pipeline of an organization, business intelligence works and makes decisions upfront.
Why Tableau?
As amazing as data analytics and business intelligence sound for a business, they are practically difficult to achieve and accomplish if businesses try to do it independently. Having said this, there are many platforms available in the market that can help in accomplishing a lot with minimal efforts. For example, Tableau is one such business intelligence and data analytics platform, which is used excessively by some of the largest organizations across the world that include Netflix, Verizon, Southwest Airlines, etc.
The success tales of Tableau can be understood from the fact that the platform was ranked as the leader in Gartner’s Magic Quadrant industry analysis, for all years starting from 2012. Undoubtedly, Tableau is one of the most front running business intelligence tools out there, which is why if you are planning to invest in data analytics for your business, you must give it a try.
Tableau has a simple and uncomplicated mission- to see and understand data. It heavily relies on data visualization and performs complex analyses for businesses with ease. Let’s start with the basics. As a business you ‘d want to see the data of your entire organization, You’d want to relate these, mix these up and come up with interesting insights that can help in decision making.
But as dreamy as quintessential it sounds, doing this in real life is a much-complicated affair. The data from different departments of your organization isn’t available in a single format. There are multiple reports, excel files, spreadsheets, relational databases, online processing models, etc. How will you combine and look up at all these data in a single view? This is exactly what Tableau Consultants tries to accomplish by creating graphs and visual charts of various formats using the data gathered from multiple formats in your organization.
But tableau isn’t just for data scientists. Its software is designed in such a way that it is also readily available for non-data scientists for data preparation along with other tasks. As a business, you must understand that prescriptive analysis is the way to the future. And Tableau is the key to cracking it in the easiest possible way.
With Tableau in the picture, analytics becomes a hassle-free affair, no matter how small or large your business is. After all, customers expect a lot from businesses because the tech titans are already there providing these amazing experiences to them. It ultimately puts the burden or shifts the responsibility to small and medium enterprises to perform and cater to the customer’s high expectations. In 2020, where catering to customer demands is the only way to keep a business sustained, data analytics and business intelligence with Tableau seem the most suitable options for business for a bright future.
Conclusion
For businesses who have been resisting the winds of change, Tableau is a great option to get back there in the game and lure customers with amazing strategies that are backed by data. The only key is to start right away without second-guessing the impact of data analytics and business intelligence for an organization.
