The discovery, communication and interpretation of the pattern of data are known as data analytics. Data analytics has its paramount importance in the areas that are full of information. The system relies on applications regarding computer programming, statistics and operator research in order to quantify the performance.
Organisation may choose to apply analytics into the business data with the view of describing, predicting and improving business performance. The major areas under analytics includes prescriptive analytics, predictive analytics, retail analytics, decision management, stock keeping and store assortment, marketing mix and optimization sales force optimization, predictive science, promotion and price modelling, fraud analytics and credit risk analysis.
Data Analytics can be applied to analysis happening in the organisation. A few of them being:
Marketing Optimization: These days market has shifted its focus to data driven processes from creative processes. The organisation use analytics to define the outcome of efforts and campaign and thus helps the management in taking decision in regards to investment. Customer segmentation, Demographic studies, Conjoint analysis and other related techniques helps the researchers to utilise large portion of customer purchase, panel data and survey to communicate and understand the marketing strategies.
People Analytics: This application as the part of data analytics helps the origination to mange human resources. The main grail is to hire required employees, reward and promote them, assign significant responsibilities, and attend to other human resource related problems.
Portfolio Analytics: In this form of analytics the leading agencies or bank have compilation of varying risk and values. The account may be different in terms of social status, the net value, geographical location and other related factors. The analytics combine series of issues and in order to build decision in regards to money lending, interest rate charged etc.
Risk Analytics: The analytics model is designed to assure the security of the customer against the risk in banking industry. The software recognises the credit score of the customer and studies the delinquency behaviour, to evaluate the credit worthiness of the individuals. The analytics is also used in insurance and scientific industries as well. In case of financial institution analytics help in detecting fraud while card are used by the customers and thus helps in minimising losses.
Digital Analytics: It is a set of technical and business activities that create, define, verify, collect and transform data into research, reporting, recommendations, analyses, automations and predictions. It is also inclusive of SEO, where keywords detect and track the results.
We at LAISAI technologies are well aware of the fact that analytics is the tool supporting the smooth working of you system and thus we offer set of services including:
Advisory and consultancy services.
Helps in implementation of the system.
Assure data integration and migration.
Assists in up gradation of the systems and software.
Provides training to assure dapper working of system.
Ensure safety and authenticity of data used for decision making.
Helps in managing capital cost of investment in the software.