June 21st 2024

NZ left behind on data analytics

Kiwi businesses, distracted by compliance issues, missing out on growth opportunities.

New Zealand mid-sized companies are missing opportunities presented by the fast-paced march of technology disruption, according to the global head of audit & accounting for BDO, Chris Smith.

Smith, in New Zealand recently to attend an audit conference, says companies worldwide are struggling to stay abreast of rapid technology changes that are sparking renewed examination of standards by financial and regulatory authorities.

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Business Analytics And Enterprise Software Market to witness astonishing growth with Key Players | SAP, SAS Institute

A new Trade Intelligence Report released by Stats and Reports with the title Global Business Analytics And Enterprise Software Market “can grow into the most important market in the world that has played an important role in making progressive impacts on the global economy. Global Business Analytics And Enterprise Software Market Report presents a vigorous vision to conclude and research market size, market hope and competitive environment. The study is derived from primary and secondary statistical data and consists of qualitative and numerical analysis. The main company in this survey is SAP, SAS Institute, IBM, Oracle, Tableau Software.

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Rising demand for business analytics education programs

Colleges and universities are increasingly offering business analytics degrees. The graduates can help build IT and business capabilities of small and medium-sized organizations.

Business analytics education programs have been popping up at colleges and universities across the country to meet the rising demand for data scientists and other analytics specialists.

Among the fastest growing degree paths at both private and state schools are graduate MSBA (Master of Science in business analytics) programs. MSBA degrees are lending standardization to what has been a fairly amorphous educational area.

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3 Use Cases Of Artificial Intelligence For Customer Experience

AI is a buzzword across nearly all industries, and there’s lots of talk about how it can transform customer experience. But how can AI play a role in customer experience, and what does it actually look like when it’s put into action? The possibilities may be endless, but many of them boil down to three main ideas.

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India can become the world’s automation hub: Ankur Kothari, Co-founder & CRO, Automation Anywhere

The combination of RPA with cognitive and analytics is a game changer for intelligent automation. Automation Anywhere is the robotic process automation market leader with over 1,000 enterprise customers worldwide. It has deployed over 6 lakh bots across the world. The company gained 396 new enterprise customers in 2017.
In an interview with ETCIO.COMAnkur Kothari, Co-founder and CRO, Automation Anywhere discusses how the company is making automation accessible to all.

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How To Pick The Right Cofounders And Why It Improves Your Customer Experience

There is the common adage that “startups are roller coasters.” But like with actual amusement parks, the people you are with make all the difference.

Our roller coaster ride started six years ago (!) with four cofounders, and six years later all of us are still with the company. I’ve come to realize and appreciate how rare this is because most startups don’t last 6 years, and most co-founder relationships don’t scale.

According to Gary Tan, Managing Partner at Initialized Capital and previously at Y Combinator, co-founder disputes are a top reasons startups fail at the earliest possible stage. While a cofounder leaving doesn’t always kill a startup, it can kill momentum at an important time and toxic cofounder relationships can be a poison pill for company culture.

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Analytics Give Law Firms the Competitive Edge

It’s often been said that the legal industry is slow to adopt technology, or is resistant to the changes technology can bring. But results from a recent survey conducted by Above the Law and Bloomberg Law lead me to beg to differ.

Sure, there are a good number of industries that are further along in their adoption of new technologies like artificial intelligence. The cell phone industry, for one, has put digital assistants in the palms of more than 2 billion people worldwide. The medical industry has embraced the use of robotic surgery since 2000. But the legal industry has taken leaps and bounds in just the past few years.

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Location analytics – why businesses need it?

Almost everything about business exists at a particular time and location. It could be objects like raw materials, products, facilities, people like employees, agents, customers or events like deliveries, purchases, production runs. By understanding how these elements relate to one another through locational analytics, businesses can make more informed decisions that can improve both efficiency and effectiveness. Location analytics helps in understanding and targeting customers and understanding and optimizing business processes.

Location analytics enables retailers to achieve the following:

Improving return on investment

Location analytics can offer accurate insight into business performance and potential – fast. By coupling the right data (anything from store sales figures to customer service feedback) with highly accurate location information, you can see precisely where the business would best benefit from your scarce funds. Through techniques such as heat mapping, businesses can identify investment ‘hotspots’ at a glance, saving hours of time that would otherwise be spent going through spreadsheets and tables.

Increasing sales

Location analytics can help in increasing sales through targeted marketing. Locational analytics can help in fine-tuning the level of detail by combining data about buying patterns, psycho-demographics, even sentiment analysis all linked together by latitude and longitude. This analytics can significantly help the business in making targeted decisions at the group or individual level.

Controlling costs

Location analytics can aid in visualizing business performance, including business spending. It can not only help the business get details about regular expenses like marketing, wages or rent but also identify ‘hotspots’ of underperformance or inefficiency which could be incurring extra cost. Maps also make it quick to identify correlations and patterns between the data nationally, regionally, locally and all the way down to specific stores, in order to identify previously hidden sources or triggers of cost.

Location analytics can also significantly help in lowering costs and mitigating risks in supply chain management. Probably the most well-known applications are around the optimum siting of facilities and assets. For example, transfer facilities, warehouses and distribution centers, inventory, where you put your trucks and planes and railcars, and right on down to retail locations. Location analytics can also help in routing or rerouting in real time in response to traffic patterns.

Boosting customer satisfaction

Building customer relationships and loyalty to a great extent includes customizing products and services and communications to segments, and to individuals.  Locational analytics helps in serving customers better, to meet their expectations and deliver what was promised as it helps in easily identifying who the customers are and where they are. Using location-based data, businesses can very quickly isolate the root cause of customer service issues. They can also identify whether there are any patterns in customer service problems across a geographical area.

The benefits location analytics can offer to a business are numerous. It can help it to see at a glance exactly how many stores to run and in which locations, where it is over and underspending, how efficiently each stage of the supply chain is working etc. By finding all this information, a business can be more efficient and effective.

Source : ttps://www.geospatialworld.net/blogs/location-analytics-why-businesses-need-it/