A successful business envisions a continuous progress through a strong sense of planning and implementation. The planning phase is a crucial part of performance management wherein the business path is determined by using variables that affect performance. While it’s true that there is no straightforward path to success, there are […]
Business Analytics
25 posts
If you have years worth of sales data, you can use that data, with the help of Excel, to predict upcoming trends and help you plan for your business. Forecasts can help you with important business decisions, such as managing staff and inventory, planning budgets, and predicting cash flow issues. […]
It goes without saying that a business can’t operate without a solid budget; the budget sets clear goals of income and expenditure for the entire body of the business, from top to bottom. There are many factors that go into determining your budget cycle length and the frequency of creating […]
It is perhaps part of human nature to react to errors as soon as they see it. Being able to identify them is crucial in just about anything especially in instances where minor discrepancies would impact the expected results a lot. Forecasting business flow is necessary in making important decisions. […]
Employee performance management is a key to create a coherent relationship of the workforce’s efficiency levels and the organization’s goals and objectives. Performance management begins as the worker is screened primarily for the tasks where their skills are determined if they are suitable to comply with the needed competency for […]
The definition of predictive analytics is the usage of statistical algorithms, machine-learning techniques and data in order to identify the probability of future results based on past or historical data. The goal here is to go past simple statistics and reports on past data to supplying the best evaluation on […]
Every business owner knows that majority of the market is headed online. That is why websites are created in order to attract customers with solutions that could help solve their problems. Chances are, if you have a business, you have a website. But how do you know if your website […]
If you want to get ahead of the competition, resorting to a business analytics tool to get a comprehensive review of your data could be your best option. Watson Analytics, IBM’s latest cloud analytics program, provides you ways to make business decisions better than ever. According to their product […]
If we were to define “ad hoc” straight from the Merriam-Webster Dictionary, it would yield, “for the particular case at hand without consideration of wider application.” The goal of an ad hoc analysis is to close in the gaps that may have been left by a business’ regular reporting. In […]
Analysis is an integral part of any successful business. This has always been a requirement even before the advent of analytics tools. Now that a large portion of analytic activities of companies can be digitized, more businesses are adapting business analytics tools to their systems. These tools help them perform […]