What is Business Analytics Really And Why Should I Care

Business Analytics – What is it?

To start with, let us at first discuss what actually is Business Analytics (BA). Technically speaking, it is collectively referred to as the skills, applications, technologies and practices that are required for a constant iterative exploration, investigation of present as well as past development or performance of a particular trade. It is done with a view to gain an insight into an effective business planning that leads to further business growth. BA puts maximum emphasis on development of newer insights with a better understanding of the performance of the trade. It is based on evaluation of various data, statistical methods pertaining to the trade in question.

Importance of BA in today's business scenario

The geopolitical situation all over the world is undergoing a transformation. All the physical as well as political barriers are collapsing as major global markets are rapidly opening up, thus leading to a fierce cut throat competition amongst the major as well as not-so-major business players. Success in trade today not only depends upon focusing on increased profitability and increase in revenue earning but surviving this fierce competition and that also in an effective way. Here is where presence of an effective Business Analytics makes all the difference.

It helps the business houses to gather as well as evaluate vital information or data with an effective use of business intelligence by probing into a wide range of internal systems that remain embedded within the business.

It can provide you decisive answers to questions like:-

• What is the best way to get more insights about the potential as well as existing customers so that their changing demands can be met at the earliest depending upon the changing market dynamics?

• What will be the likely consequences of price change or a change in service or products and what is going to be its likely impact upon the customers?

• What is the best way of targeting the most profitable or lucrative customers?

• What is the most effective way of detecting as well as eliminating frauds?

• What is the way of spotting those customers who are likely to shift to another service provider so that it becomes possible to take timely evasive action and retain those customers?

Now all these are most pertinent questions that any business house has to deal with. Once the answers to these questions are available the rest becomes easier to handle.

In this context it can be stated that Crystal Reports is the best example of an effective Business Analytics. Technically speaking, it is an intelligence application that is used for designing as well as generating marketing reports after collection of data from a wide variety of resources. The reports help the users by providing them the option of using various types of graphically designed data, report connections, layouts. The data sources it uses include MS Excel spreadsheets, Access databases, SQL Server databases, Oracle databases, commercial views and the likes. This is one of the major causes of increasing popularity of Crystal reports development services.

The report also comes up with a variety of tables containing fields that can well be used to create customized reports. Users can also use them in various custom formulas with the use of BASIC as well as Crystal's very own syntax. These formulas can also be further evaluated whenever required, during various phases of report generation.

Let us briefly go through the benefits of Crystal Report as this will give us an idea about the importance of BA.

It allows the users to quickly as well as easily design customized reports: It allows the users to gather valuable information with the use of intuitive, customized templates as well as reusable objects. That helps in saving time and maintains consistency to a large extent.

Smooth Flow of Data: Data can be imported from multiple sources. They can also be transformed with the use of various powerful tools and can be published in multiple formats like PDF, ODBC, XML and the likes.

Seamless Integration: It helps in seamless integration of various MS applications so as to facilitate user-friendly export backed by the ability of saving information related to export configuration.

Easy Maintenance of Reports: Reports can easily be maintained with the help of dynamic cascading prompts as well as pick lists that can be automatically updated.

Report Designing and Formatting: Report designing gets simple as well as intuitive with click designers and points that come up with report workbench, dynamic, cascading prompts and preview of a HTML report that helps in promotion of report authoring.

We provide BI report development services. If you want to hire a crystal reports developer for your project, please contact us at Mindfire Solutions.