BI Support At Your Fingertips
It is no surprise that the world is changing rapidly. The explosion and evolution of data and the acceleration of technology are changing the face of business. Today, data is one of the most important assets of an organization.
Why Analytics in Business Matters
Analytics provides the “fuel” for organizations to unlock business strategies through the analysis, interpretation, and application of data. It can improve a company’s operational efficiency and growth in many ways, including addressing problems, seizing opportunities, and making better and smarter decisions.
Every Business Needs a Data and Analytics Strategy
The proper use of BI Support can become a competitive advantage. However, proper data use starts with strategy, determining what a business wants to achieve, how data can help achieve those specific needs, and what data can be used to get you there. That requires a definition of the key challenges and business-critical questions that need to be answered. The key elements of a good data and analytics strategy include:
- Defining how your business will use data.
- Determining how you will source and gather the data to meet your needs.
- Deciding how the data will be turned into actionable insights.
- Defining the technology infrastructure requirements.
- Evaluating and cultivating data competencies within the organization.
- Choosing the right data technology to utilize.
- Deciding how to provide data governance.
A Solid Business Intelligence Strategy Helps Achieve the Impacts of Actionable Insights
Business intelligence considers the software technologies, applications, and practices used in collecting, integrating, analyzing, and presenting business data. Data analytics provides the platform to drive contextual and informed decisions, like HCM cloud applications. In general, advanced analytics using business intelligence can be used to:
- Identify early-stage trends.
- Unearth new growth opportunities
- Anticipate complex market dynamics.
- Reduce bias in decisions.
HR Analytics Can Drive People and Business Strategies
HR analytics can provide information that can contribute to the development of programs including programs for diversity, equity and inclusion, mentorship, internal mobility, and succession planning. It can be used for effective workforce management, workforce planning, and hiring actions.
HCM Fusion can be used to make the hiring and retention process simpler. It can be used to track employee performance, predict high performers and predict employees who might be inclined to leave the business. It can be used to simplify and accelerate the onboarding process for new employees. HR analytics can be used to increase a workforce’s productivity.
What DataTerrain Can Do to Drive Your Business Strategies with Analytics
DataTerrain utilizes Oracle HCM software, currently being used by 14,000 organizations in 40 countries. This comprehensive service offers integrated modules for core HR functions including payroll, workers’ compensation, tax, talent management, collaboration, performance management, talent management, and workforce analytics. Our applications offer an array of flexible deployment options. With advanced analytics, key decision-makers can rapidly find answers to predictive and statistical questions and provide compelling analytical reports that are comprehensive, flexible, and trusted.
DataTerrain’s team can design and deliver streamlined HR functional reports to increase operational efficiency and reduce costs using real-time reporting and dashboards.
Seek Superior BI Support and Report Analytics
Contact DataTerrain here. Our proven automation technology delivers business intelligence at your fingertips. We provide real-time analytics and reporting to drive business results that are trusted by over 250 customers across North America.