Why Analytics? From Analytics to Insights
By James Hickman, Managing Director
South Africa Qlik Master Reseller
Many managers ask the question; “why analytics?”
John Paul Kirton, CEO of Modernising Management the producers of the Analytics2Insights service confirms that “why” is the right question to ask. “Why certainly is the operating word! Why is the continuous question that the analytics process tries to answer!”
Having recently launched their innovative Analytics2Insights platform, powered by Qlik, Kirton and his team strive to help organisations across Africa create value from their insights – delving much deeper than delivering beautiful reports.
“Reporting provides you with data in nice visualisations but does not provide you with insights into your organisation. When you look at a report and you ask WHY… What happens? Do you need to go to another report? Will your WHY be answered there or will that report generate another couple of WHYs, leading you to download/pull many other reports that mightgive you an indication of an answer… or have you already lost your train of thought?” asks Kirton.
Key WHYs: The Answers ARE in the Data
- Why are we profitable… Or not?
- Why are we under/over our budget?
- Why do customers purchase?
- Why do we purchase from certain suppliers?
- Why should we collect outstanding receivables now?
- Why should we pay a supplier now?
- Why are our expenses increasing or decreasing?
- Why are our margins increasing or decreasing?
- Why should we increase our margins at certain items?
- Why should we sell certain items to certain customer and when?
How to Find the Right Analytics Solution
Kirton believes that a good analytics solution tells a story about your business across many different data dimensions. From your customers to suppliers, expenses, inventory, cash flow, bank accounts, time and more. “With the right solution you can jump into this story at any chapter, page, paragraph or sentence and ask any questions you may have at any time,” he adds.
Essentially, you need to be able to ask a question, then ask WHY and easily find the answers you’re looking for – without being taken down a rabbit hole.
“The great thing about intelligent analytics is that it immediately addresses your question-answer-question-answer scenarios. Good analytics enables you to explore your data and gain insights into your business – not just provide you with data, forecasts and benchmarks based on historical data one report at a time,” concludes Kirton.
To discover the Analytics2Insights platform for yourself, follow the links below and trial it on your own data.
Click on the Access Analytical Applications icon
Click on the Sage Business Cloud Accounting Icon