Self-service Business Intelligence Tools For Monitoring Cryptocurrency Fostering – What opportunities are available to you with business intelligence automation? Extracting value from multiple data sources leads to increased customer satisfaction, improved staff engagement and productivity, minimized human error, and more. However, harnessing the full potential of BI is only possible if it is married to a strong automation strategy.
The rapid demand for automation among major analytics platforms proves it. For example, the famous analytics vendor, Tibco, will join Blue prism, a pioneer among RPA vendors at the end of 2021, while Alteryx cooperates with UiPath, a company that also delivers an RPA-based platform. Automation is now seen not only as a facilitator of repetitive processes but also as an essential part of the delivery of insights. So, whether you’re just starting your journey to a data-driven organization or you’ve been using BI for a while, here’s a list of problems that BI automation can solve.
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Manually extracting and ranking data-driven insights is quite a tedious process. Plus, it steals work hours that your team could be spending on more important tasks.
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Implementing a BI dashboard is a wise move for organizations that are overwhelmed with data. It can help avoid wasting human time and effort and speed up the overall workflow. In addition to revealing real-time actionable insights, automated tools allow users to prioritize, thereby making smarter decisions.
Speaking of BI automation opportunities, health care is a clear example of an industry that is in high demand. Generating large amounts of data, medical organizations often face the challenge of handling large amounts of heterogeneous data with a limited number of employees. They may be confused about how to implement advanced software in a clinical setting.
Thus, medical organizations can be more proactive in exploring trends and demographics by using the clustering features in Tableau. The solution helps to identify statistically similar groups based on shared attributes, for example, ranking insight into pediatrics and comparing short-stay patients with longer-stay patients.
When processing large volumes of data, it is very difficult to overcome the human factor and detect every error on the spot. Sacrificing data quality can be costly as it leads to large financial losses, damaged company reputation, inaccurate targeting, ill-informed decisions, and more.
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Specifically, bad data can affect sales and marketing channels. If your mailing list lacks “cleanliness”, has incorrect contact information, or includes unsubscribed addresses, you may have a very high churn rate and lose potential clients.
In this regard, data preprocessing is a big problem in the struggle for accurate and reliable analytics. However, data scientists often fail to complete preprocessing due to lack of time. The use of platforms, such as Microsoft Power BI, can eliminate the need for repetitive manual data cleaning. With the help of Power Query Editor, you can automatically identify and remove duplicates, missing values, or errors, thus waving goodbye to other obstacles to overall company productivity.
Some companies cannot keep pace with digital transformation and are holding back from migrating from legacy systems to more modern ones. A recent survey by CIO Insider revealed that the average IT department across all industries is spending about 55% of their technology budget on maintaining existing infrastructure rather than building new innovative capabilities. In this way, legacy systems become a heavy burden due to expensive maintenance and lack of integration with the modern ecosystem holding back many organizations.
Business Intelligence automation, effectively streamlines the flow of data from one system to another and helps gather data into a single source of truth. In addition, the automated solution simplifies the content structure so that it is ready for analysis.
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While having unhindered access to data for all teams in an organization seems like a sure thing, it just doesn’t work this way. In most cases, legacy systems simply lack the flexibility and require the participation of data scientists to gain data-driven insights and disseminate them to all levels of the enterprise.
Applying the BI toolset contributes greatly to the democratization of information. The use of cloud databases like Azure or Google Cloud allows users without deep technical knowledge to access any information in the company’s warehouse and convert the data into a convenient format to share important content quickly through company channels independently of the IT department.
Most businesses aim to provide a better customer experience, but few succeed. The reason is random guesswork, because confused managers often draw conclusions based on insufficient or unreliable data. All of these lead to the promotion of the wrong product, service, or feature, which leads to customer dissatisfaction.
Why is BI automation a win-win scenario in this case? It goes without saying that communication is key. Customers themselves know what they want. In this regard, collecting feedback with interactive in-app or online surveys and tracking customer behavior on websites is a step forward in understanding customer needs, becoming more responsive to market changes, and increasing revenue.
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Because manual data entry is a time-consuming routine process that is prone to errors and mistakes, it is not a practical option for most companies. Whether you need to extract personal information from a CV for HR purposes or extract important data from invoices for accounting reports, automated OCR-based software can optimize the task.
The solution helps automatically pull data from various sources, including PDFs, photos, or websites, and deliver them in a structured, visible format in a few clicks.
Instead of wasting employees’ time searching and summarizing information, automated solutions collect data from various sources, generate reports and display them on a schedule, without the need for human effort.
Giants like Netflix and TLC have started their automation journey and their achievements are inspiring others to do the same. Specifically, TLC claims its productivity increased by 25%, while Netflix was able to save 50 employee hours per day by using an automated reporting solution.
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Recently, our team has also helped media service providers optimize their decision-making workflows using self-service BI. The implemented solution frees business users from creating complex reports, saving about 280 hours per month and increasing customer satisfaction by 85%.
Today’s competitive business landscape has companies fighting for position more than ever before. As they say, the warning has been put in place, and BI automation should be the main weapon for tracking performance.
While Ahrefs and Semrush can help you find your competitors’ keywords, Google Alerts will notify you exactly when your competitors are mentioned online. Detecting and analyzing key performance metrics with intelligent BI automation tools will keep you updated on market conditions in real-time and reveal if you are at risk of not performing well.
Today, employee burnout is spreading almost as fast as the COVID-19 pandemic. Findings from recent research by Deloitte show that 77% of employees face the problem of burnout in the workplace today. Aside from extra working hours and less vacation time, respondents also cited unclear job expectations and lack of communication in the workplace as reasons.
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The COVID-19 pandemic is affecting the way businesses create workflows, and HR departments are the first to adapt to the new situation. 98% of HR leaders say they have experienced significant changes in their roles and responsibilities during the pandemic.
With automated BI, recruiters can gather data about past, current, and potential employees in one place to assess employee strengths and weaknesses, track performance, offer relevant professional courses, motivate staff, prevent conflict and burnout, and more -apart.
Business Intelligence is an important asset and critical ingredient in every operational field, regardless of the size and domain of the organization. Ensure that you never miss valuable data insights and make decisions at a higher level. However, only automation makes BI’s mission a reality. At *, we’ve helped hundreds of business users implement intelligent automation and create intuitive and secure BI adventures, ensuring productivity and wise use of resources.
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Drop us a line about your project at contact@ or via the contact form below, and we’ll get back to you soon. Compliance with the FATF Travel Rules provides the most significant opportunity for virtual assets to become widely accepted in everyday use cases. Cryptocurrency companies that comply will have better access to traditional banking, which will allow easier access for institutional investors. They will also be able to provide customers with visibility and confidence in every transaction.
KYC is the process of identifying customers and verifying details to comply with global regulations, including anti-money laundering and anti-terrorism laws. The main purpose of the KYC process in crypto is to prevent individuals or companies from using the asset class to commit financial crimes.
KYC is a process where VASPs identify customers and verify their details to comply with global regulations before allowing them to use the platform. The Travel Rules take it a step further – requiring two VASPs to be KYC’ed
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