By Sanjeev Gupta
Data Analytics, is it just a fancy name? Is Data Analytics important for all businesses? Is Data Analytics just another business fad, or does it have commercial and strategic importance? These questions are bound to arise, because of the hype Data Analytics have been getting recently. So let’s take these questions down on-by-one and see if we can gain any clarity on this. Data Analytics Solutions are basically computer based, software applications that enable fast and accurate analysis of relevant process metrics. It is more than a fancy name in-fact; data analysis is one of the most important facets of process management. Without relevant and actionable information generated from the process, it is practically impossible to operate the process with high efficiency and achieve profitability.
Data Analytics software have universal applicability and can be designed for any process, it can be as simple as an application developed to monitor the performance of cashiers at a small bank or as complex as an application to analyze the process efficiency and performance of space craft production. Depending on the process and the process metrics the design and coverage area of the application would vary, but as far as relevance is concerned, data analytics solutions are applicable and desirable for all businesses. Data Analytics are not a management fad because they play a crucial role in management and can lead to improvement of the process and add to the bottom-line. These applications enable real-time decision making and ensure that the process remains efficient and the management effective. I believe Data Analytics have vast commercial and strategic importance; these applications have the potential of not only improving existing process and profitability but can also pave the way to process innovation and aid better management and decision making.
There are many companies that provide data analytics software applications; however one needs to tread very carefully when selecting a technology partner. For any software application to be successful, it is very important that it is process specific and provides the desired functionality to the process owners. If a software application as strategic as a data analytics application goes wrong, during design or implementation the results can be catastrophic. The choice of right technology partner is thus a vital choice.
I2DS is all set to introduce it very or data analytics product suite, called the ‘Intelistat’, this application is the next big thing in the data analytics product space. Intelistat has the most advanced statistical tools that go beyond trend charts and simple statistics, the major focus of the makers is to design an application that can help apply six-sigma, lean or lean-six-sigma. The beauty of the product is its flexibility in design and its capability to adapt and improve any process. The back-bone of the application is such that it can easily apply to a myriad of operations and processes. I2DS has already made a name in the MES, Factory automation and Database management market, now its next target is the data analytics domain. The product suite is all set to launch later this month. To know more about, Intelistat just write into us at firstname.lastname@example.org or hit the Request Live Demo tab on this web-page.