“Business Intelligence tools increase the value of analyst contributions while making work more interesting.
A common strategy these days for growing companies is to hire financial, sales, or operations Analysts to help find ways to better accomplish corporate goals. The job description for these types of roles often includes some type of report design and development, analysis of these reports, and planning around the decisions to be made as opportunities are uncovered as a result of the analysis. I know numerous people who hold these rules, and most of them have one thing in common: They spend a tremendous amount of time on tasks that are not necessary given the technology available today.”
This is so very true in the Philippines. So few people with the word analyst in their title or analysis in their job description are truly empowered to be critical thinkers. They are not generally enabled to let their curiosity lose and discover things that can be significant business opportunities. Most analysts are simply left with running reports and passing these reports off to management or doing basic encoding or fixing things when they break.
Bray continues, “Many people who supervise Analysts were once analysts themselves. However, these supervisors likely worked in a different technological era, and they may not be aware of some of the ways that those long nights of building Excel models and PowerPoint presentations can be made more efficient with modern tools.
Any Analyst who spends 20+ hours a week in front of Excel, relies on IT to gather data to be analyzed, or works with tools that require any type of programming to generate simple reports should be briefed on the new wave of Business Intelligence.”
In a lot of organizations in the Philippines you still see analytics in the realm of IT and not embedded in various business lines like Marketing, HR & Recruitment, Business Development or Strategy. The end users of analytics are not the ones dreaming about what they need, creating the analysis and zeroing in on exactly what they need. Modern Business Intelligence tools like Tableau, Qlikview or Yellowfin among others, allow analysts to:
• Spend less time gathering and structuring information, which allows for more time to conduct analysis and make decisions. This crucial to enable quicker decision-making so that its timely and relevant.
• Conduct analysis that physically cannot be done in tools like Excel, which leads to more valuable insights. Excel is still the primary tool of 95% of analysis and so many insights are being missed.
• Eliminate roadblocks and minimize the need to wait for others to take action.
DMAI is leading the charge to empower analysts to be proactive. Take the initiative and get out on the cutting edge by using free tools and resources like Tableau Public or Piktochart to visual data, provide deeper analysis and lead business towards more data-driven decisions!
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