Using Analytics to Maintain Your Competitive Edge

Fun Fact: Did you know that a study performed by MIT and IBM found that companies that use analytics to determine their next steps are 3 times as likely to out-perform their competitors?

Fast, accurate reporting has become monumental to line-of-business decision-making and is a major determining factor in maintaining an edge in an increasingly competitive marketplace. Your teams need to be able to answer the question “How are we doing?” at a moment’s notice. So what do you need to make this happen? Let’s start with centralized Business Intelligence (BI).

Centralized BI offers IT control over an entire reporting structure. This means data is not siloed, giving users access to more wholesome, accurate reports and dashboards. Balancing centralized control with data discovery freedoms allow users certain levels of personalization so that they can still create their own data sets.

A unified reporting and analysis platform also helps companies overcome a litany of obstacles – from:

  • Lag-time on reporting application updates.
  • Confusion that spirals when IT teams have to juggle the management of multiple analytics tools.
  • Silos of ungoverned data being used across the organization.
  • No way to easily create compelling dashboards.
  • Unable to scale current analytics solution.

Decentralized analytics tools bring an array of complications that turn out to be much less flexible and free than many imagine at first glance.

Instead, invest in a business analytics solution that can implement quickly into your existing environment. Yes, that means you can re-purpose those disparate tools you were using before when adding new functionalities – like real-time monitoring, forecasting, and statistical analysis. In other words, you can make your existing reporting structure sexier.

With one solution, you can give your business analysts the ability to test scenarios and models, while offering your finance department the ability to forecast budgets and better adapt spending plans. By arming your departments and teams with quick access to what they need and the flexibility to manage their information, you give them the ability to make better, more informed decisions on their own.

Enter Cognos Analytics solutions.  Cognos excels at the presentation of data in the form of pixel-perfect production reports that are broadly shared as well as ad-hoc reporting.  It addresses every possible reporting need, in an enormously scalable platform across a wide range of data sources.  It is historically centrally managed and integrates with SPSS and other technologies to enable the analytics to be operationalized into business processes.  Cognos makes your organization smarter, providing the insight you need.

Ask yourself this:

We can help! Learn about the freedom your organization can gain through new hybrid business analytics solutions.  Schedule a quick meeting or give us a shout today.  A Capitalize Data Analytics expert can give you the answers and help your organization use analytics to gain and keep your competitive advantage.