Why Analytics and Reporting are the Most Important Software Trends to Invest in?
With the rise in digital disruption and, as a result, big data, organizations from FMCG to survey companies to pharmaceutical giants are investing in BI and analytics expertise, data visualization being the biggest trend to improve efficiency and making complex data more accessible, understandable and usable. Thus, employees are able to focus on important tasks, boosting productivity.
Streamlined and predictive visual analytics and reporting are implemented to help companies view data at a glance and to make smarter decisions quickly. Data visualization communicates otherwise hard to digest information with visual objects in graphics easy to interpret with the human eye. Data discovery and interactive visual interfaces aim to increase reasoning and facilitate decision making by amplifying human cognitive capabilities.
For some companies such as graze, a tech-led multichannel retailer of healthy snacks established in the UK, how you utilize data within the organization is key. For Anthony Fletcher, CEO, ‘technology and data analysis increasingly allow you to learn more about your customers and how best to work with them, with less cost’.
On the other spectrum, for the highly regulated pharmaceutical industry, data storage and data quality are integral to manage global medical safety and high volume data in general.
Arcadia, a multi-million-pound company working extensively with Fortune 500 companies designing and building custom software, specializes in complex web solutions, big data, AI and machine learning, and is ISO 27001 certified by British Standards Institute (BSI).
Dmitri Adov, Technical Director at Arcadia, breaks down the big data and reporting project for a provider of online surveys platform with thousands of clients in most European countries:
‘The reporting was initially created in a simple way and worked with a transactional database. As data volume grew, the reporting became slower and slower. Besides, running a number of complex reports affected the survey platform performance.
‘The best approach to improve reporting performance and keep survey platform stability was using a data warehouse and an OLAP cube built on SQL Server Analysis Services. Reporting application was re-engineered to support multidimensional data queries.
‘The solution suggested and implemented by Arcadia’s team improved the scalability of the reporting and entire survey platform.’
As the story of data and analytics keeps evolving, keeping up to date with the latest technologies is imperative in staying ahead of the competition.