In the first instalment of our Expert Opinion series, data and analytics expert Rudraksh Bhawalkar explains the fundamental benefits of managing your data effectively, in order to achieve a bi-modal framework for your business. ‘Water, water, everywhere, but not a drop to drink’. These, the modernised words of Samuel Taylor Coleridge in his poem The Rime of the Ancient Mariner, were penned in the late 1700s. Over two centuries later, we’re facing a similar problem. Like sailors looking out over a
On June 30th 2018 all businesses were supposed to have migrated to TLS 1.1 encryption or higher, otherwise they are at risk of relinquishing their ability to process credit card payments. Sounds daunting I know. Saying that, I have just realised it is very presumptive of me to expect everyone to know what PCI stands for, let alone what the implications of non-compliance will be for your business now that the June 30th deadline has passed, so I should probably take a
Analytics are fast becoming the life-blood of organisations. Most notably within enterprises who have already embraced the digitalisation of their industries, recognising that data is now the new oil, and knowledge is now the new international currency. In fact, you’d be hard pushed nowadays to find a business operating in the black, who do not appreciate or understand the full value of analytics, and recognise the direct impact they can have on both empowering better decision-making and
There is no escaping that for many industries they are undergoing their biggest technological transformation in decades, as they slowly adapt to digitalisation in an ever increasing, data-driven World. The EiB mission is to help facilitate businesses to adapt to such a significant transformation, through developing a scalable MI architecture, which empowers organisations to leverage the entirety of their data and gain significant competitive edge. With that in mind, Excel in Business (EiB) are hosting two FREE one day interactive conferences at
The last instalment in our EiB Insights series, explored how our EiB Insurance Analytics solution allows you to access your raw premiums and claims bordereau and automatically transform this into powerful MI, without the arduous task of manually handling your data. Our focus now turns to the pertinent topic of what happens when your raw data is in fact erroneous data. After all, if the base data is flawed, then regardless of
It’s that reporting time of the year, which means you’re most probably looking down the barrel of at least a few tedious days going line by line through data sets, trying to get a semblance of a picture of health for the powers that be. Say hello to your trusty friend Excel, that all-pervasive tool of data crunching that we all know, love and sometimes hate! And because we’re all so familiar with Excel, we’re also wise to its issues –
In a data and analytics survey conducted by the Economist Intelligence Unit, only 13% of insurers surveyed identified enterprise-wide data management and warehousing as a significant strength in their organisation, while 82% ranked data and analytics as a top strategic priority. So, while increasingly more insurance companies continue to invest in modernising their technology architecture, as a means of embracing the cultural shift to a digital age, most still find their efforts have
The vast majority of business leaders now know that to achieve truly sustainable growth, they need to double-down on digital transformation. But a recent report by Forrester, on behalf of Microsoft, shows that digital transformation is not enough on its own. “Enterprises that fail to build out a full digital transformation strategy miss out on the big picture,” the report states. “ Those pursuing a limited digital transformation strategy tend to focus on smaller, more tactical initiatives
Today, even with innovations in, BI software, financial reporting, management reporting and self-service analytics applications, monitoring every aspect of your business is still too complicated. It’s essential for you to use the right tools to track your business performance effectively, yet there are dozens of different software applications and approaches on the market, making choices confusing, complicated and all too often costly – especially as your user population grows. With the majority of businesses trying to manage and present data from
It’s all well and good saying that you already have a ‘BI reporting solution’ in place for your business, but the truth of the matter is, that a reporting solution for advanced analytics alone quite simply cannot realise the true benefits of business intelligence for your organisation. The reality of the situation is, that in order to harness the full potential of BI, you first need to ensure your approach is more of a methodological process. Once this is established,
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