Today businesses have a plethora of data to deal with, but having enough data and not analyzing it well and not being able to obtain enough business insights would lead to poor decision-making and missed potential opportunities.
As confirmed by reports, a staggering 65% of companies cannot analyze all the data they collect, and 73% isn’t analyzed.
Data analysts are assigned to draw better insights from data by generating reports and conducting analyses to support decision-making. Imagine if this task can be automated and the burden on data analysts can be reduced and they can allocate time to work on more complex tasks.
Businesses can either add new resources or work smartly where they can!
When it comes to simplifying complex work of data analysis, self-service analysis tools can help alleviate the burden. It would be so convenient if Business Intelligence tools could be used by users without having or with less IT knowledge. Users can access and explore data sets without having sufficient knowledge of BI. Before exploring its supreme benefits, let’s understand the term.
Self-service analysis is a type of business Intelligence tool that helps to make a better conclusion from data without doing statistical analysis and facilitates data analysis with generic analytics capabilities and knowledge.
Let’s delve into the benefits of self-service data analysis tools in detail-
Encourages Quick Decision-making
Self-service analysts allow users to access data without depending on professional data analysts. It helps users in getting quick insights on their own as users can create reports and analyze visualizations thus enabling faster and more informed decision-making.
Leverage Customization
With self-service data analysis, users have better control over dashboards and reports and can customize them as per their needs. It ensures users focus on the insights and metrics as per their roles and drill down into the data to figure out trends, patterns, and any deviation that needs to be taken care of early.
Less Dependency on the IT Team
By giving enough access to users, with self-service analysis the burden on the IT team and data analysts is reduced and they can work on more complicated tasks, for instance, data security and governance. With this level of accessibility, the data usage within an organization becomes more democratic, enabling participation from a wider range of individuals.
Cost Effective
By reducing the need for specialized data professionals, using self-service tools can help businesses save costs. Organizations can allocate the budget to initiatives that are more strategic and need investment.
Boosts Collaboration
Self-service Business Intelligence tools include features that promote collaboration among users. Users can share reports and insights by accessing various tools like Google Sheets, Microsoft Teams, and emails so that insights can be circulated widely among all. This collaborative approach enhances the collective understanding of data within an organization.
Conclusion
Those businesses that had started adopting the path of self-service analysis and adopted advanced Business Intelligence tools are already giving a competitive edge and having better data insights.
We at Canopus Infosystems can help your business analyze data better by integrating Business Intelligence services. Our professionals with more than 15 years of experience are well-versed in BI applications. We are here to help you with your data strategy and facilitate and support you if you have an outdated setup, need a team to implement custom BI solutions, and suffer from poor data analysis.
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