To sustain your competitive advantage and increase the revenues stream, companies must alter their strategies to embrace risk management, price optimization and adopt digital marketing tools.

The rising awareness for such need has led to a rapid expansion of business analytics (BA) tools across various industries and almost in every functional use case. Reporting tools are also necessary to deliver conclusions and results to help in further decision making.

Organizations and corporates require analytical tools that automate and facilitate current decision-making processes, increase productivity while transitioning from reactive to proactive and actionable methods.

SevenSprings Technology provides a specialized analytics service based on Big Data and advance, descriptive and predictive analysis tools.

Big Data: Consultation on database, helping companies to organize and structure their data.

Advance analysis: provide advance descriptive and predictive tools (like forecasting and data mining adapted to each business case).

What is advanced & predictive analytics?

Advanced analytics → data analysis based on mathematical, statistical formulas and algorithms. It generates new information through patterns recognition and prediction of probabilities.

Predictive analytics → subset of advanced analytics. Focused on the identification of future events and values with their respective probabilities.

Advanced and predictive analytics are applied in a variety of use cases ranging from sales forecasts to predictive policing. Such tools enable both “optimization” and “innovation”, supports process improvement and provide new business insights. The following tasks can be addressed:

Segmentation: creation of groups based on similarities.

Association: identification of the frequency of joint occurrences and, if necessary, the derivation of rules.

Classification: for example, of hitherto unclassified elements.

Correlation analysis: identification of relationships between element properties.

Forecast: derivation of future values.

Why advanced & predictive analytics?

The current digital age empowers businesses to improve their operational performance and maintain their competitive advantage, by adopting these tools:

Advanced analytics allows better analysis of current relations, future events and integrates actions with assumptions to improve future recommendations.

Modern and intuitive user interfaces allow more user groups to acquire insights and make sound – ad hoc decisions in real time

Data democratization enabling everyone to access data, without the gatekeepers that create a bottleneck at the data source. The latter requires good understanding of the data, which improves decision-making processes and unlocks opportunities for the organization. The goal is to authorize everyone to be able to access and use this data, anytime for better reaching a decision, with no barriers to access or understanding.

Change from data holder to data exploiter to spread and enable more consumers gain new insights.

Since modern techniques and technologies accelerate and improve decisions and processes along the value chain, being now widely available, it is important to carefully evaluate how advanced analytics can be used within your company in order to rise to the competition and excel at it.

Advanced analytics Reporting Packages

A standard virtual machine installed on a company’s data server area, with a reporting pack at a fixed price includes:

Accounting and payroll advanced analytics

Identifying system, human and processes errors:

– System errors in the form of software bugs or integration problems.

– Human errors coming from lack of knowledge or training, increase in data manipulation and manual data processing.

– Processes errors arising from missing documentation, lack of quality control and not sufficient monitoring or support given to the team.

Audit advanced analytics

– Internal and external auditors can shift from a sample-based model to employ continuous monitoring with much larger data sets to be analyzed and verified. This results in a lower margin of errors leading to more precise recommendations.

– Tax accountants quickly analyze complex taxation questions related to investment scenarios. In turn, investment decisions can be expedited, allowing companies to respond faster to opportunities and enabling them to be ahead of their competitors in the market.

These advanced analytics reporting packs enables accounting and marketing teams – who assist or act as investment advisers, to identify consumers and market behavioral patterns. Accordingly, these patterns help businesses build analytic models that guide them to identify investment opportunities and generate higher profit margins.