Category: Insights

The Singapore Institute of Technology and the Institute of Singapore Chartered Accountants recently conducted a study on small and medium-sized enterprises (SMEs) which revealed that about 70% of the 500+ SMEs surveyed had not yet adopted data analytics, with many relying on spreadsheets and databases to store and use their data. This finding suggests a lack of awareness or understanding of data analytics and the benefits it can offer businesses. Additionally, of the 70% of SMEs not using data analytics, half of them reported they had no intention of doing so in the future. With the success of many SMEs, and their positive contributions to world economies, they could be missing out on achieving more growth and a better understanding of their business. 

Meanwhile there are many companies who have made the switch to using advanced data analytics and commercial machine learning, a trend that could leave some SMEs in the dust. So how exactly can using data analytics benefit small businesses? Keep reading to learn more about this innovation and why your small business may want to leverage it for success. 

Data visualization is a method of presenting information through visual aids like charts, diagrams, or pictographs. The numerical data collected can also be expressed in dots, lines, bars, and other means to show inverse or parallel relationships. Businesses regularly use data visualization in a variety of ways, from showcasing company growth for stakeholders to plotting revenue projections for internal teams. Data visualization is a useful tool to make sense of complex data, help viewers better understand what data is saying, and create powerful stories to inform decision making.

But data visualization isn’t only for businesses and organizations in the private sector. In fact, data collections and graphical presentations are immensely useful for government agencies to study and interpret their community’s needs to make better decisions.

Data visualization is at the heart of many businesses, and it’s as much an art form as it is a science. It’s a way to present information in the form of maps or graphs, making hard data more accessible and tangible. Through effective visualization, you can process trends and patterns more easily than just staring at numbers.

Data storytelling needs both creativity and structure to succeed. You need to skillfully combine emotion and complex data into a piece that communicates insights that your company can use. Today, more and more businesses are using data storytelling in content for clients and employees alike. If you’re thinking of using data insight solutions to improve your business, here are things to keep in mind.

The use of data – and understanding its meaning through analytics – has become essential in most industries. For the telecom industry, data can be an invaluable tool to staying ahead in one of the most competitive industries in the world. Telecom businesses can use data analytics to streamline operations, improve processes, track projects, and fix problems. And it can inform decision-making and strategies by providing valuable insights.

Data is powerful in practically every industry today, but when it comes to telecom, there are a few particular key areas in which it shines.

With the rapidly evolving nature of technology and its applications to various industries, we encounter new concepts that help us become more efficient at what we do. Data analytics is just one of the many new concepts that businesses are now trying to integrate into their processes. While data analytics consulting companies have been around for quite some time, people seem to be confused about what analytics really means and how it is different from data analysis.

For risk managers, data analytics has become one of the most critical activities to carry out. With analytics, decision-making becomes even more reliable and accurate, and can help with the long-term success that minimizes losses while maximizing gains. However, there are plenty of challenges to be faced when collecting and using data to make decisions and inform strategies.

Some of these challenges may be tougher than others, but they all impede the risk manager’s ability to analyze data. Fortunately, there are solutions for all of these roadblocks that can make a risk manager’s job easier and more effective.

Keep reading to learn more!

We live in a time when data is considered a currency. In almost every industry, there’s buying and selling of data to get profitable results. Data’s value is evident, as seen in the findings of McKinsey and MIT’s researchers. They determined that businesses that are basing most of their decisions on data were, on average, […]

It wouldn’t be an exaggeration to say that data is the lifeblood of modern businesses. To be more specific, big data has effectively transformed how we do things in the digital age. As defined by Open Source, big data are data sets that are too large for humans to manually interpret. This is why big […]

With the 24-hour information cycle and social media constantly bombarding us, many people have become desensitized to it all. Companies have to keep innovating new ways to catch potential customers’ attention and cut through all of the noise. As a result, many businesses are focusing more on creative promotional campaigns and relying on things like data analytics to better understand their audience.

So what are the potential benefits to your business of using data analytics? Keep reading to learn more about how your business – big or small – can use data analytics to reach your goals.

Big data can be intimidating to deal with, and even more so if you do business online. Different businesses may encounter different challenges in adopting big data so it’s important that all decision-makers know how to address and solve these unique obstacles. Although data concerns are diverse, here are a few common ones and possible solutions for each.

We live in a world of data. How many patients a medical practice saw in one month, how many power outages a city experienced, or how much money a government agency is spending are all examples of information gleaned from data. Data always has a story to tell, but do you know how to tell that story in a way that can inform your business’s strategy or solve problems?

When you’re looking at the health of your company, everything might look like it’s going according to plan. As long as you and your employees stick to it, sales and profits will continue to increase. But, this is a pitfall that many companies fall into —judging their business by how it is functioning on the surface instead of analyzing the data that can give a more accurate picture. However, data analysis is only the first step. You have to understand what the data is telling you and find an accessible and memorable way to tell the story to your employees and other stakeholders.

Curious to know how data storytelling could benefit you? Keep reading for three ways it can help your business work smarter.

Data visualization, also known as “data viz,” has become an integral part of how businesses operate, communicate with employees, and make decisions. It’s a communications tool that allows for complex ideas and relationships to be presented and understood in a simple format. Charts, graphs, pictures, and maps are all examples of data visualization that most of us are familiar with.

While data visualization can help distill complex data, it can also oversimplify information which can create challenges in decision-making. Keep reading to learn more about the pros and cons of data visualization so you can be sure your business fully understands how to use it effectively.

Storytelling is a critical skill for transferring information and making facts memorable. Data professionals need to be thinking about telling stories with data. Here’s the how and why.

Storytelling is a critical skill for transferring information and making facts memorable. Data professionals need to be thinking about telling stories with data. Here’s the how and why.

Storytelling is a critical skill for transferring information and making facts memorable. Data professionals need to be thinking about telling stories with data. Here’s the how and why.