Enterprises look at BI and analytics to beat recession

BANGALORE, INDIA:  With global economic recession having an impact on almost all industries, Businesses Intelligence and Analytics can present companies with an effective solution to the challenges they now face.

Downtime is when revenues nosedive and enterprises look at issues affecting them more seriously than ever before. Adopting business intelligence and analytics solutions can help enterprises get to the heat of issues and take decision timely decisions.

Dr. Mukund Deshpande, senior architect (BI) with Persistent Systems, Pune, says that enterprises are often faced with questions like: Which product promotions have the biggest impact on revenue? How are sales across regions, products? Which of my customers are most likely to switch to my competitor? And so on!

According to the senior architect, the profitability of any enterprise lies in identifying key issues and taking appropriate decisions at right time.  To accommodate the exponential growth in data generated by business processes, organizations have invested heavily in building data warehouses that store this data and allow it to be easily queried. However, even with all of this data available, there are a few applications that exist which help business users with their decision-making.

Dr. Deshpande says the increasing global competition and the need for sustainable growth is driving businesses to increasingly looking to analytic applications to provide critical business insights. Whether focused on achieving a return on asset investments, understanding the competitive landscape, improving product and service quality, analysts and executives need to improve decision-making.

While data mining and analytics applications help business in decision-making, they are not widely adopted because of the unique nature of every business. A deep understanding of the business domain as well as expertise in data mining algorithms is required to build applications that are relevant to business users.

The biggest adaptors of BI and analytics in India or elsewhere are large enterprises in the business of telecom, retail, and BSFI. The economic downtime is when enterprises in these verticals fight it out for survival leading to greater demand for applications that can help in proper decision making.

Analytics for KPOs

How can KPOs leverage existing data to enhance their offerings and drive revenues by increasing their customer footprint?

As the global KPO landscape matures and becomes increasingly competitive, leading organizations are looking toward analytics to provide critical insights for driving revenue and continuous innovation. Customers are looking to their KPO partners to provide actionable insights that increase flexibility and responsiveness to anticipate customer and market demands, says Dr. Deshpande.

According to senior architect analytics, professionals are partnering with KPOs to extend core analytics capabilities to provide their customers with the kind of insights they are truly looking for. Leveraging on fully integrated and extensible analytics solutions, KPOs can exceeded their customers’ expectations and service level agreement, he adds.

He said that Persistent has been in the business of helping ISVs develop BI solutions for nearly two decades. "In fact, Persistent can point to many industry-leading BI solutions in the market today where we have contributed to product development. This intimate understanding of the underpinnings of market leading solutions, coupled with our solution accelerators translates to rapid time to value for your BI projects," he says.

Specializing in predictive modeling techniques such as boosting, association rule mining, clustering, neural networks, regression, support vector machines, time series analysis, decision trees and Bayesian inference, and optimization methods such as linear programming, nonlinear methods, and genetic algorithms, Persistent’s BI experts can jumpstart your BI initiative.