Importance of Analytics for Higher Education

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More institutions are now taking advantage of Analytical Dashboard Software, whether it be in the form of Excel Dashboard Software or Online Dashboards using some kind of SAAS service – study plans are developed based on data taken from students. Because of Analytics, courses have been tailor-made for classes, and one class is unique from another. Analytics also provide a gauge for academicians to rate their institutions and themselves, using it as a tool for improvement and solutions-based programs.

The Role of Analytics in Higher Education

In a study for ECAR 2012, various words and themes emerged to define analytics. These are classroom use, prediction, automatic data, Google, course distribution, data mining, and metrics. Synthesizing these terms, analytics is defined as the process of gathering and interpreting data to address, give light to, or answer a strategic question.

Read more at http://www.infocaptor.com/dashboard/benefits-and-use-of-analytics-for-higher-education

Sep
9

Importance of Analytics for Higher Education

admin

More institutions are now taking advantage of Analytical Dashboard Software, whether it be in the form of Excel Dashboard Software or Online Dashboards using some kind of SAAS service – study plans are developed based on data taken from students. Because of Analytics, courses have been tailor-made for classes, and one class is unique from another. Analytics also provide a gauge for academicians to rate their institutions and themselves, using it as a tool for improvement and solutions-based programs.

The Role of Analytics in Higher Education

In a study for ECAR 2012, various words and themes emerged to define analytics. These are classroom use, prediction, automatic data, Google, course distribution, data mining, and metrics. Synthesizing these terms, analytics is defined as the process of gathering and interpreting data to address, give light to, or answer a strategic question.

Read more at http://www.infocaptor.com/dashboard/benefits-and-use-of-analytics-for-higher-education

Sep
9

Increasing revenue with data dashboards

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Categories: Dashboard Tutorial

Some people think of a data dashboard as nothing more than a pretty visual aid, but when properly used, the dashboard can be a key tool in increasing business revenue. By monitoring meaningful metrics and responding relevantly, you can boost your business and raise your revenue. Isn't that awesome?

Select the KPIs to Monitor

One of the critical components of a successful dashboard is the selection of the key performance indicators (KPIs) that are most important to measure. A snazzy looking dashboard is no use if you're monitoring meaningless metrics.

The KPIs that matter most to you will vary depending on your business. You might be looking at renewal opportunities and renewal results, sales process, performance drivers, customer feedback, traffic, conversion, and any number of other indicators.

You want to create key performance indicators that highlight the aims of your organization. Maybe that means mining new potentials, identifying levels of team performance, making cold calls, and other activities that will generate higher revenue.

Don't obscure your vision by overloading your dashboard. Pick the most meaningful KPIs, and create a dashboard that allows you to "drill down," or click on graphs to see more detail on any specific statistic.

Sep
9

BI tools for Data Driven Culture

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Modern day technology has brought about new business practices that have not only made industries more efficient but more competitive as well. People these days live in what is known as a data-driven environment where instinct or luck does not run the business culture, but by honest-to-goodness facts.

There was a time when business intelligence tools served the purpose of providing industry insights, information on consumer behavior, and even consumption patterns. These days, they do more than just provide tools for effective pre-operational business analysis.

BI tools are currently at the heart of multiple organizations where they use technology to make better operating decisions. And what once was information reserved for the higher ranks is now information accessible to all members of the staff, especially those working at the front lines. It is with this small change that businesses in a data-driven culture can truly differentiate the customer experience.

Some of the most important things that business owners need to do are identify which market forces will play a role in their success and focus on which economic components will help them achieve their goals. Given that there are components of modern commerce that are unpredictable the playing field is evened out thanks to BI tools.

BI tools consist of a series of technologies that make it simpler and more efficient for companies that use them to gather data and analyze them. It can include everything from sales metrics to consumer spending habits or even provide accurate measurements about the effectiveness of an operating strategy.

Read more at http://www.infocaptor.com/dashboard/what-is-data-driven-culture-and-how-can-bi-tools-help

Jul
7

KPI Dashboards for Retail Industry

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The retail industry is highly competitive. It is one of the fastest growing industries worldwide.

Based on the 2015 Global Powers of Retailing Report, the US has

seventy-six of the world’s largest retailing companies. With the growing number of retailers, staying on top will be a tough job.

Retailers who want to rise above their competitors must know all the details about their company. This is where a Key Performance Indicator (KPI) comes to place.

KPIs are helpful in evaluating and monitoring a company’s performance in achieving certain targets or goals. KPIcan also help retailers come up with right business decisions.

Having a KPI dashboard which contains the right data at the right time can help improve the productivity and performance of your company.

While there are many KPIs that a retailer can keep track of, we have compiled ten of the most helpful KPIs for any retail business.

Read more at http://www.infocaptor.com/dashboard/kpi-dashboards-for-retail-industry

Jul
7

Benefits of Exetuvie Dashboards for Call Centers

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Managing a call center is no easy feat, hence, business intelligence tools such as an executive dashboard can be tremendously helpful.

Call center management needs constant attention. Managers should focus on the latest performance metricsand important industry KPIs. Taking these into consideration, arming company executives with a reliable call center dashboard is worth its weight in gold.

Keeping a watchful eye on all the activities of the call center that you’re managing can help you increase overall productivity, and business intelligence tools should will play a major role. Not only will you be able to reduce handling times significantly but also be able to meet the obligations of your service level agreements hassle-free.

With the industry of call centers being one of the most competitive these days, providing clients with the highest level of service is the ultimate goal and you can assure service quality when you have an executive dashboard in your arsenal.

It works by increasing the visibility of real-time metrics that are crucial to your business. With a dashboard app, you can access vital information immediately and address any issues before they become potentially damaging to your company.

In any call center dashboard, there are several performance metrics that you have to pay close attention to and here are some of them:

Read more at http://www.infocaptor.com/dashboard/executive-dashboard-analytics-for-call-centers

Jun
6

Benefit of Dashboard Reporting for Government Operations

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Dashboard reporting has never been more important to the government. Considering the humungous streams of data collected through government agencies and programs, the challenge is how to make sense of these data in a way that they will benefit the organization and perhaps save large amounts of money as a result. The use of this type of reporting has been exalted by the US.

In the US

The US administration flaunted the advantages of using dashboards during the presidency of Barack Obama. They said that using a dashboard is an effective way of collating and filtering data so that these data become useful to decision makers. They credited the dashboard for being able to make them see better the implications of data and act on them appropriately.

One example cited by the government is how a dashboard helped them see the status of their investments, particular in pursuing the advance of technology.

The claim from the administration of Obama was that they were able to make better decisions using the data presented by the dashboard. According to them, this led to billions of dollars in savings and cutting delivery time for technological projects.

The US Congress has communicated a positive sentiment on the matter of using a government dashboard for federal decision-making and operations. It expressed interest in increasing the use of transparency tools, such as dashboards, across federal spending programs.

It is expected that more efforts will be exerted towards this goal and the use of dashboards may even be continued to be implemented after Obama relinquishes his office.

Other governments

Read more at http://www.infocaptor.com/dashboard/dashboard-reporting-for-government-and-how-it-can-benefit-government-operations

Jun
6

Importance of BI tools for Pharmaceutical Industry

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The pharmaceutical industry has been focusing much of its energy on producing the next chartbusting drugs.

However, the industry is also facing challenges in terms of the changing regulations, increasing number of declines on drug approvals and the continuing need to develop high value biologics. Refocusing efforts is imperative.

There are existing processes, systems and practices that need to be immediately addressed. Key performance indicators (KPI) using BI tools help corporations identify areas that need continuous development and highlight successes already achieved. This helps pharmaceutical companies grasp their management operations better.

What is KPI?

Simply put, KPI is a measurement of something that is vital in a business’s operations. In the pharmaceutical industry, measurements on drug cost overall trend for a certain drug are examples of KPIs.

What KPIs to Include

Before using dashboard software to view KPIs, it is important that useful KPIs be identified first. Some KPIs are not useful to a certain organization, depending on the operations and the needs of that organization. It is therefore important to have long discussions first before operating a KPI dashboard. Discussions should tackle on:

  • Assessing the organization’s strategies.
  • Determining the business drives that have an impact on the execution of strategies.
  • Identification of long-term and short-term goals.

Determining useful KPIs is one the most important tasks of managers. KPIs based on the organization’s objectives are essential components of an effective and helpful dashboard. What you will see on the dashboard will largely depend on how you specify your KPIs.

Read more at http://www.infocaptor.com/dashboard/dashboard-bi-tools-for-pharmaceutical-industry

Jun
6

How Can Metrics, Analytics, and Dashboards Help a Struggling Entrepreneur

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Startups or even a small business should take advantage of business intelligence tools. Especially for entrepreneurs who are considering themselves to be struggling in making ends meet, leveraging data can be their ticket to better operations, boosted sales, and overall business success.

When we talk about business intelligence, there is no specific reference to just one piece of software but a collection of programs that exist to help people collect and assess good data.

Aside from multiple programs, BI tools also include elements that can help improve business practices, maximize infrastructural investments, optimize performance, and enhance decision-making processes.

Business intelligence tools like metrics, analytics, dashboards, and key performance indicators can help small business owners to pull together a wide variety of details not only from external sources but more importantly from the different parts of the business itself.

These tools then collate raw data and they churn out reports, charts, graphs, and assessments that are easy to understand. Basically, the tools perform all the analyzing and what startups are left with are details that they can immediately use to take action.

The time it takes to collect the data and produce usable insights is significantly reduced. This saves the struggling entrepreneur valuable time that can be used to take proactive actions towards improving the business.

The great thing about business intelligence tools like key performance indicators for example is that they can be used by startups to look at all aspects of their business.

It can provide valuable information showcasing sales performance and strategy effectiveness. Even things like staff performance and costing can be assessed in no time.

When a small business starts to experience problems, often it is because of things like excessive wastage, non-optimized inventory levels, inefficient costing, and undeveloped business protocols.

Business intelligence tools can help address all these issues, if not more, and help a company understand where they are making mistakes and where they need to invest more effort and control.

For a small business, there are several key performance indicators that should be focused on

Read more at http://www.infocaptor.com/dashboard/can-metrics-analytics-and-dashboards-help-a-struggling-entrepreneur

Jun
6

Business Intelligence for the Finance Industry

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Categories: Dashboard Tutorial

The banking and finance industry is experiencing continuous changes brought about by advances in technology. The changes are welcome – however not without the accompanying challenges.

As a result, the kind of market we now have is dynamic and Wall Street is making the necessary adjustments, not to dampen vibrancy in the market, but to improve strategies in line with the changing technology. That requires developing new tools and implementing them correctly.

Business Intelligence (BI) Tools for Financial Institutions

There are a lot of tools that have been developed and ones that are worth discussing about are business intelligence tools that help managers identify better management practices and make smarter business decisions. A finance management dashboard is one of these tools.

Here’s a quick look on how this kind of instruments can help in those areas and in other areas such as profitability, reduction of risks and creating competitive advantage.

  • Operational Efficiencies

Improving efficiency is a key to winning in the competition. BI tools can analyze how efficient are the operational processes leading to maximization of resources and expertise and to reduction of operational cost.

How good are you at customer experience? A dashboard can help you improve this at the point where your employees and customers come face to face.

  • Products and Services

BI tools do not only allow managers to track which products and services are performing well but also give them insights on the needs and experience of their customers.

  • Marketing

Do you want to know the best market segment to target? A simple dashboard is all you need to have a good picture of it. The tool can also show you which customer profile gives you the highest revenue and the one that should be put lowest in the list of priorities.

  • Customer Retention

There are customers who are loyal to you. You need to know the reasons why they are staying with your business, but you also need to identify why others are leaving.

Business analytic tools can help you determine the reasons why and lead you to taking steps to improve your retention rates.

  • Risk Reduction

This is an ever-changing world where nothing is 100% certain. How would you keep track of your customers and internal organizations so that you can early detect possibilities of fraud?

You can use BI tools for this. There are also lots of benefits from knowing your clients’ financial capacities, which a dashboard can provide you 24/7.

  • Investment

At some points, managers run out of invest ideas and strategies. The good thing about BI tools is that they can bring in “new” results from real-time data.

New results mean new things that can be explored further for better decision making and development of new approaches to investing. That’s the kind of data and analysis only a dashboard can bring to your organization.

As an example, the number of cars on a shopping mall’s parking lot can be useful in triangulating consumer research. Recently, images from satellites are used to gather data of the global supply of fuel.

These and more examples clearly show how indispensable BI tools can be in the conduct of modern business.

Read more at http://www.infocaptor.com/dashboard/business-intelligence-for-the-finance-industry

Jun
6