Business Intelligence Cognos – Companies that thrive will be those that embrace change and make quick, data-driven decisions with increased analytics.
They are what caused the first, second and third industrial revolutions. Each of them drives a change that spans the world, top companies, processes, and society as a whole. The cotton mill led to the birth of modern industry in England. The contract ushered in an age of mass production. The processors, supported by radical advances in networking, put a computer on every desk and a smartphone in every pocket.
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We are now in the fourth industrial revolution – driven by data. It builds on its predecessors while being driven by artificial intelligence, machine learning, pattern recognition, data science, and more.
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All such changes are disruptive. Hand-washed mills in the early 18th century. Henry Ford’s choice of the assembly line pushed bicycles off the road 200 years later. Computers kill some industries while starting others.
The Fourth Industrial Revolution is doing the same, breaking old patterns and launching waves of additional innovations and opportunities.
Companies that succeed in this transition will be those that embrace the changes and make quick, secure and data driven decisions.
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A new trend of data-driven decision making is emerging, but the right decision is only part of the equation. Decisions must be made quickly and often, especially in those high-impact moments when a customer is busy or an urgent operational need arises. Hitting the mark for fast and accurate decisions requires your analytics tools to instantly turn your data into relevant insights, provide the right information to the right people, and remove all barriers to clarity. Today’s analytics solutions achieve this with custom reports and dashboards that transform large amounts of data into visualizations that communicate breadth and depth of understanding.
For many business users, the face of data analytics – the point of engagement – is the visual measurement of the dashboard. For that reason, strong data-driven insights should be one of the most important elements of your analytics strategy. Conversely, views that are difficult to understand, or based on misleading, incorrect or missing data, will quickly become your weakest link.
Think about it: Decision makers use dashboards to make countless decisions every day, many of which have serious consequences for the health of the business. Add up all of these decisions made in an organization and you’re looking at hundreds of thousands of decisions per year. There are many opportunities to do the right thing or to do the wrong thing.
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Get it right and you will harness the Fourth Industrial Revolution to create continuous innovation, performance improvement and early warnings of stress. Get it wrong and you face endless mistakes and missed opportunities that can destroy your company’s potential.
From a data analysis perspective, bad decisions come from many sources. You may lose data, either because of incorrect data import or simply because your resources are not large enough. There may be inaccurate data, often due to errors in data entry or the process of stitching data together for analysis.
Also, you may have incorrect information; Even if the underlying data is accurate and representative, unconscious biases can cause it to be misinterpreted. Finally, no one wants to think that their colleagues will deceive them, but misinformation occurs when employees act in an unethical or illegal manner and try to cover their tracks, or simply numbers to make Their performance is better in order to get a bonus or raise.
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How can you make sure these injuries don’t affect you? By adopting a system that enables analysis in every function and at every level of the business. When your users have the skills and tools to explore data independently, build on existing reports, and create new dashboards as needed, they can discover new patterns and relationships in the data, uncovering gaps , errors, omissions, and other issues as they go. In this way, you build a concrete path to strict analytics, allowing your organization to prevent the problems listed above and avoid being blindsided by business interruptions.
Ask yourself these 4 simple questions to fix problems that could be ruining your analytics 1Is there any data missing?
Advanced analytics has become a key differentiator for business decision making. It increases the knowledge and improves the effectiveness of every leader, shareholder and individual contributor by allowing them to learn, adapt and think beyond the needs of the market – at the time and in the place when smarter decisions are needed. And by gathering data and insights from each interaction, improvement programs become more and more effective over time.
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The business world is hard pressed to grasp the power of predictive analytics to improve, accelerate and expand human intelligence.
Similar to data analysis, there is more to fishing than just a pretty picture. Fish swim in schools to conserve energy, increase food prospects and reduce the risk of dangerous predators. The same can be said about data analysis. By going beyond the pretty picture and using smart analytics and data science techniques, you can save time and energy, optimize your business processes and reduce the risk of risky decisions.
Traditional business intelligence (BI) solutions have no hope of understanding the volume, variety and speed of data generated. The flood of business data requires a new approach to BI, enabled by the intelligence built into Cognos Analytics. Powered by an ever-expanding suite of artificial intelligence (AI) capabilities, Cognos Analytics is tailored for the needs of today’s organizations and users.
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The biggest challenge is to empower each user—whether a data scientist, business analyst, or non-expert—to perform appropriate analysis in a way that is related to organizational goals. Cognos Analytics accelerates this process, shortening each user’s journey from simple to advanced analytics, enabling both business users and IT professionals to harness data to explore the unknown, identify new relationships in data, gain deeper understanding of consequences, and challenge the status quo.
New machine learning and natural language features enhance BI functionality in Cognos Analytics with intelligent data analysis and visualization capabilities that help business users discover underlying patterns and meaning in their data. For example, the software can identify the types of data we are looking at and the analysis we want, and then intelligently suggest the best visualizations to use.
AI features such as natural language, guided analytics and smart insights not only increase personal productivity but business agility. The advantages of this general approach are many. It ensures that insights are derived from data that is checked for accuracy, completeness and lack of bias. This increases collaboration and puts confidence in the intelligence that makes the decisions.
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More broadly, Cognos Analytics prepares businesses to take advantage of opportunities and respond quickly to emerging threats. In a business environment where boundaries, borders, and business as usual don’t apply, AI-powered BI technologies are helping businesses thrive as they redefine what’s possible.
The world has moved to a new paradigm. There is more data to capture than ever, with a greater need for timely insights; those who have good data and can do the most will win. However, IT budgets are very limited, the supply of data scientists and business professionals cannot come close to meeting the demand, and outdated, siled processes for data crunching and generating analytics will not meet the need for real-time analytics. .
Given these pressures, the implication is clear: analytics must be shared throughout the organization so that everyday users can perform advanced analytics tasks in the normal flow of their work. Unfortunately, many BI tools are designed for users who already have advanced knowledge of databases and analytical techniques—or, alternatively, they are user-friendly and beautiful to look at, but without analytical horsepower. enough under the hood.
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That’s why Cognos Analytics includes intelligent self-service capabilities that make it simple, clear, and easy to use, whether you’re an experienced business analyst looking at changes in a large supply chain or a marketer running a campaign. Cognos Analytics uses artificial intelligence and other cognitive capabilities to leverage data to guide data exploration, reveal compelling insights, and make it easy for users to get the answers they need. All of this enables faster, better decisions and increases financial and operational benefits.
What can you do with advanced data discovery tools in Cognos 11.1? Discover the extent of your opportunities and how to explore and understand your data better than ever.
Individuals can view or interact with dashboards and reports, with access limited by role, department, or user. They can contribute to reports that are imported from various sources, have them updated daily, and set specific reports as their home page, without getting involved with IT – but still work within the security of management effective data.
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In a responsive self-service environment, each user can research the data and perspective appropriate for their role. From the individual’s point of view, the work is done quickly and with little effort. From a systematic perspective, different perspectives and new insights emerge
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