Monday, 27 August 2012

Business Intelligence Tools are Key to Building Profits

Business intelligence is described as “skills, processes, technologies, applications and practices used to support decision making”.

Data Analysis, BI Reporting and query tools can help business users wade through a sea of data to synthesize valuable information from it and make better business decisions. These tools collectively fall into a category called "Business Intelligence."

The goal of Business Analysis Tools is to help decision-makers easily identify trends and issues, uncover new insights, and fine-tune operations to meet business goals.

Challenges with the spreadsheet approach:-
  • Time consuming and labor intensive to set up and maintain
  • Insufficient collaboration and feedback capabilities.
  • Error prone
  • Inadequate data analysis and BI reporting
  • Lack of timely information
  • Inaccurate or inconsistent data.
  • Difficulty accessing and manipulating source data
  • Ineffective information sharing across the organization
  • Over-dependence on silo spreadsheets.
  • Pressure to comply with increasing regulatory requirements
Benefits of BI:-
  • Produce and Access Information in the Timeliest Manner
  • Easily Share New Insights across the Organization
  • Ensure Source Data Is Correct and Current
  • BI Reporting in Useful Formats
  • Data Analysis and Risk Analysis Reports Ready for Decision Making
  • Control Data Access and Provide Regulatory Compliance
  • Identify the out of the ordinary
  • Compare information about customers, products, cost/profit centers, financial accounts with BI reporting
  • Compare the same type of information in different time periods with BI Solutions
  • Check performance versus formal and informal goals or constraints with Statistical Data Analysis
  • Confirm and sometimes to discover trends and relationships
  • Provide data for a what if analysis or a forecast
Scientists use Business Intelligence Tools in clinical data analysis to improve pharmaceutical production and achieve faster speed to market. Manufacturers use BI tools to enhance statistical process control. Financial companies use BI Reporting for attribution analysis to evaluate portfolio managers and electronics companies rely on BI Solutions to increase semiconductor yield enhancement because BI Tools can be easily integrated with other Statistical Data Analysis Software, Databases and CRM applications etc., Business Intelligence Tools improves the value of those investments.

Business Analysis Tools give businesses a way to streamline and unify the data collection, analysis and reporting process. BI solutions are built on a unified database, so everyone involved in the process gets a single, real-time view of the data. Many BI Tools feature self-service dashboards and BI reporting tools that make it easier and less time consuming to contribute to and manage the process.

Thursday, 23 August 2012

E-Commerce Solutions – Defining A Market Place for Indian Shoppers!!


Indian Consumers are prone to window shopping. They like to make big bargain with vendors even though they find product of their choice and leaves no void to make it a best deal. The shopping freaks mob towards multiple Market Places on weekends to find products of choice and they never mind spending hours of time on it. But how could be these shop alcoholics could be motivated towards online shopping. It’s not that much easy!!

We may think of 2 ways to bring such shopping freaks to the Market Space. The first is giving them the same realistic shopping experience “online” which they seek and enjoy from orthodox Shopping Habits. It’s a bit difficult but ecommerce solutions are making continuous efforts to provide the same. There are many services comprising replacement services, warranties, doorstep services, COD, discounts etc. that are offered by ecommerce players to lure the consumers to buy online. Even to overcome problems related to size in case of Apparels shopping, companies offer trial service and replacement on size. Few ambitious players have introduced 3 D Virtual clothing with which user can visualize what they can do with their own clothing line, change their measurements easily and in real time and get a virtual you with their exact size and features. If you will observe, it’s no different to shopping style of ancient Rich Indian Zamindar’s who have lobby of vendors who were ready to bring stuff to the premises for trial. Lets not confuse, but yes ecommerce solutions are offering the same style but with better communication medium and few constraints. The second way may be bringing the change. The change may be in shopping pattern, Choices, Habits with additional benefits in terms of prices, product line, variety and uniqueness.

Somewhere users, if not for purchasing, but do follow ecommerce websites in their first step of purchasing process that is researching. In one of the study done by eBay, it’s been observed nearly 57% of smart shoppers check prices online before they shop in a mall or a store. At least, this finding is good enough to show how user-friendly ecommerce websites design bringing paradigm shifts in Orthodox Shopping Habits. But, believe me, there will be time where every Retailer will have exclusive ecommerce applications to offer product lines online with set of fixed consumers in his specific territory to offer automated shopping experience and deliver products at doorstep.

Is it possible to have such market space as mentioned above where we have niche ecommerce portals to offer each and every product what we may think of to go to market and purchase?  I know I am too much imaginative but I certainly believe it may happen. Why Not? We have lot many ecommerce websites existing which offers us Grocery for our daily use (foodmandi.com), Home D├ęcor and Furnishing items (fabfurnish.com) , Flower Gifts & Plants delivery anywhere in India ( livinggifts.co.in ), Electronic Items (Naaptol.com, ebay.com etc., Flipkart.com), Apparels( freeculture.com, fashionandyou.com). I am expecting such trend to be followed at least in metropolitan cities where we have Internet user almost in every home and users are aware about ecommerce portals.

It’s just an imagination, but in present scenario, Small and Big Organizations are looking for ecommerce website design and ecommerce website development for their Businesses to offer out of store experience to Consumers. There are Service Providers offering affordable ecommerce website development services, mobile application development services to Businesses giving an impetus to ecommerce Industry. Once every Business, Retailer has an ecommerce application to offer Products and Service, It will no longer be an imagination.

I welcome your comments and suggestions on Ecommerce Markets, Trends and Innovation in India.

Thursday, 16 August 2012

6 ways Mobile Applications can Help In your Business

1.      Enterprise Application:- Customized Mobile Applications Development for smartphone or Mobile devices can assist in your business process. There are many Mobile Applications that businesses are using for their in house processes.

Application in this Category: - Android Based Point of Sales (POS) Android Application Development team of Binary Semantics prepared an Android Based Mobile application for leading food retail chain in India to extend their point of Sales facility to customer Desk. Application is installed on Android based Tab attached with printer with which the user can book order right from customer desk and can present bill through portable printer.

2.      Enhance Customer Relation: - From marketing perspective, Social Media can be used to offer discounts and offers to your customers’ and also engaging customers into your business by asking valuable suggestions/opinions/preferences etc. Android App Developer is required to equip a business with customized applications that can offer communication platform to give prompt response to customer query and thereby build relationship with the customer.
Application in this category: - Social Media Apps

3.      GPS Navigation and Tracking:- The GPS tracking and Navigation Applications are quiet popular for transport Industry and travellers. The Navigation facility can be used to find places and effortlessly move to the destination. Whereas, tracking application are very much in use for Fleet Operators to track the real time location of the vehicles during transit. The application with handy features is quiet Beneficial for Radio Taxi Service Providers, BPO Cab Operators, and Transporters etc.

Application in this category: - Fleet Robo - Vehicle Tracking Solution

4.      Multimedia Communication: - There are lot many applications in market which specifically give platform for personal and professional communication during transit from one place to another. The exchange of Multimedia comprising Audio and Image files has helped Business in pacing the information transfer for business Decision Making.

Application in this Category: - What’s APP, Customized Applications for closed group communication.

5.      Payment processing through Credit and Debit Card on movement: - Security Enhanced transaction could be made through merchant banker on your smartphone.  While you are in field to take orders or in open terrain of food court in mall, payment for the order could be processed through your smart phone or mobile device with internet. Immediate billing is convenient through portable printer.
Such applications are very useful and beneficial that provides opportunities to businesses to do business anytime and anywhere.

Applications in this category:-
·        Merchant WARE Mobile
·        Flagship ROAM Pay Merchant Services
·        I Terminal
·        Square

6.      Remote Information Management and Sharing:-
There are many Smartphone apps that assist you in remote access to documents so that you could edit them on the move and share documents.

·        Primadesk
·        Air Sharing
·        PocketCloud Explore
·        LogMeIn
·        Webroot.com