Superior business intelligence & analytics
What is Data Analytics Solution?
In today’s digital age, where businesses of all sizes are embarking on digital initiatives or launching digital products, data and data analytics services have become a very critical component. Data analytics solutions drives business insights and helps companies drive customer experience, new product launches, cost optimization and personalize offerings for different customer segments. The engine powering IoT, AI and other emerging technologies is data analytics, as data is at the heart of all the digital transformation initiatives.
Data analytics is the science of analyzing the raw data in order to make conclusions about that particular information. The techniques and processes involved in data analytics have been automated into a mechanical process and algorithms that work over raw data for human consumption. Data analytics helps a business optimize its performance. Depending on the stage of the workflow and the requirement of data analysis, there are four main kinds of analytics – descriptive, diagnostic, predictive and prescriptive.
Common Data Analytics Challenges
While working on data analytics solutions, some of the common challenges we encounter are:
- Analysing huge volumes of data from disparate sources
- Availability of data for analytics in recognizable patterns for tools or statistical models
- Overlaying business context and process to the patterns to ensure relevant analysis to deliver business insights
- Visualizing the outcome of data analytics in appealing and relevant dashboards for quick decision making
- Improving the time-to-value of the data analytics process
Tibil’s Data Analytics Solutions
Tibil’s Data Analytics solution and iDEA framework are designed to address the above business challenges. We have enabled organizations of all sizes across industries to make informed decisions by deploying customized business solutions to access real-time data.
Data Analytics in Tibil covers the entire spectrum of business intelligence from ingestion to insights as described in our iDEA framework:
- Validating existing datasets & sources and verifying data quality
- Integrating and organizing data from disparate sources
- Transforming the prepared data into recognizable patterns by overlaying business imperatives
- Analyzing the derived variables and creating dashboards & reports to showcase metrics
- Building models and algorithms that can support key business decisions
The primary difference between analytics and analysis is that data analytics is a broader term of which data analysis is a subcomponent. Tibil’s data analysts collect, analyze, and translate the prepared data into information that’s accessible.
Some examples of the business insights we have delivered to our customers through data analytics are:
- Improving Real Estate buying probability with a right-fit match
- Management of loyalty cards data and personalized recommendations
- Launching new products and solutions or refreshing existing ones through data insights
- Dissecting IoT data for performance management and availability tracking
- Analysing machine data for just-in-time inventory management, maintenance and upkeep
- Performance assessment and improvement of a societal platform
Read more about Tibil’s Data Analytics Solution by downloading the datasheet.
Implementation of Data Analytics in Business
For a Multi-functional Medical Diagnostic Solutions Provider in India, Tibil created Omni Health Monitoring System (OHMS), a state-of-the-art product that combines IoT, mobile delivery, data analytics, CRM, and social media to enable real-time, complete, customized, 24/7 patient engagement anywhere in the world. Some of the business Insights and benefits of OHMS were:
- Accuracy and reliability of data, and real-time presentation of patient’s vital statistics
- Pre-programmed alerts to healthcare professionals
- Integration with MIS to support the faster realization of insurance payments
- Clinical analytics to monitor quality metrics, enable pre-emptive actions and lower costs
Benefits of Our Data Analytics Solutions
We believe that by leveraging our Data Analytics solution, our customers can benefit with:
- Business value: Driving business insights by overlaying business context and Tibil’s domain expertise to the analytics process to ensure the true value of analytics is derived
- Improved return on investments: Ensuring the right tools and technologies as well as best practice frameworks are used to keep costs down for better RoI
- Accelerated time-to-market: Leveraging Tibil’s decade-plus experience, expertise and technology know-how to deliver insights, innovation or products faster to market
Read our point of view on Who says SMBs don’t need or cannot afford Data Analytics?
Besides Feature Engineering, we have expertise in Data Operations solution to audit data for veracity, completeness and reliability, Data Engineering solution to help you prepare and normalize data and build data lakes, Feature Engineering solutions to help transform the prepared data into derived variables and formats for data analytics algorithms and models, Data Science solution to build advanced analytical solutions based on ML algorithms and AI models, and Data Maturity Assessment to help you baseline your current data posture.
