Data Analysis Software Solutions and Risk Assessment Tools

Data Analysis Software Solutions and Risk Assessment Tools: 

Statistical analysis refers to a collection of methods used to process large amounts of data and report overall trends. It provides ways to objectively report on how unusual an event is based on historical data.

It is required in Risk analysis, Optimization, Six Sigma, CMMI, Financial analysis, Forecasting and almost everywhere, even in our day to day life. With statistics involved in our analysis we can be sure of our results/reports etc.

If we have small data then we can manually perform statistical tests, simulation, time series forecasting, clustering, data mining, modelling etc.

But this is not always the case. So for getting insight into our data and get the more out of it, which is of importance to us, we use Statistical analysis software.

Below are the software which covers all Basic and Advanced Statistics and help us get the best solution of our problem:-

Risk Analysis & Simulation:-

Oracle Crystal Ball & Decision Optimizer :

It is simplest and most complete tool for Monte-Carlo simulations, time-series forecasting and constraints-based optimization for Microsoft Excel spreadsheets and models.

Crystal Ball automatically calculates thousands of different “what if” cases, saving the inputs and results of each calculation as individual scenarios. Analysis of these scenarios reveals the range of possible outcomes, their probability of occurring, which input has the most effect on your model and where you should focus your efforts.

Optimization :-

What’s Best :

What's Best! Is an add-in to Excel that allows you to build large scale optimization models in a free form layout within a spreadsheet? What’s Best! combines the proven power of Linear, Nonlinear (convex and no convex/Global), Quadratic, Quadratic ally Constrained, Second OrderCone, Stochastic, and Integer optimization with Microsoft Excel.

LINGO :

LINGO is a comprehensive tool designed to make building and solving Linear, Nonlinear (convex & nonconvex/Global), Quadratic, Quadratically Constrained, Second Order Cone, Stochastic, and Integer optimization models faster, easier and more efficient. It can connect to any Database.

LINDO API :

With the LINDO API, you can easily create your own optimization applications. It allows you to plug the power of the LINDO solvers right into customized applications and mathematical programs that you have written.

Statistical Modeling:-

TIBCO Spotfire S+:

With S+, statisticians and statistical programmers can apply, prototype and deploy statistical models and predictive analytics up to five times faster than with competing modelling environments. S+ is the only commercially-supported statistical analysis software that delivers a

cross-platform IDE for the award-winning S programming language, the ability to analyse gigabyte class data sets on the desktop, and a package system for sharing, reuse and deployment of analytics in the enterprise and in validated environments.

SPSS :

IBM SPSS Statistics is an integrated family of products that addresses the entire analytical process, from planning to data collection to analysis, reporting and deployment. With more than a dozen fully integrated modules to choose from, you can find the specialized capabilities you need to increase revenue, outperform competitors, conduct research and make better decisions.

Data Mining & BI :-

SAS :

SAS is an integrated system of software products which enables programmers to perform:

Retrieval, data management, and data mining,

Report writing and graphics

Statistical analysis

Business planning, forecasting, and decision support

Operations research and project management

Quality improvement

Applications development

Data warehousing (extract, transform, load)

Platform independent and remote computing

In addition, SAS has many business solutions that enable large-scale software solutions for areas such as IT management, human resource management, financial management, business intelligence, customer relationship management and more.

TIBCO Spotfire :

TIBCO Spotfire Professional makes it easy to build and deploy reusable analytic applications over the web. Or perform pure ad-hoc analytics, driven on-the-fly by your own knowledge, intuition, and desire to answer the next question. Spotfire analytics does all this by letting you interactively query, visualize, aggregate, filter, and drill into datasets of virtually any size. Ultimately you will reach faster insights with Spotfire and bring clarity to business issues or opportunities in a way that gets all the decision makers on the same page quickly.

Econometrics:-

Eviews :

A combination of power and ease-of-use make EViews the ideal package for anyone working with time series, cross-section, or longitudinal data. With EViews, you can quickly and efficiently manage your data, perform econometric and statistical analysis, generate forecasts or model simulations, and produce high quality graphs and tables for publication or inclusion in other applications.

LIMDEP:

LIMDEP is an integrated program for estimation and analysis of linear and nonlinear models, with cross section, time series and panel data. LIMDEP has provided many recent innovations including cutting edge techniques in panel data analysis, frontier and efficiency estimation and discrete choice modeling.

NLOGIT :

NLOGIT is an extension of LIMDEP that provides programs for estimation, model simulation and analysis of multinomial choice data, such as brand choice, transportation mode, and all manner of survey and market data in which consumers choose among a set of competing alternatives. NLOGIT has become the premier package for estimation and simulation of multinomial discrete choice models.

SHAZAM :

Shazam is easy-to-use, comprehensive programmable software package for econometrics. The primary strength of Shazam lies in the estimation & testing of many types of regression models.

Quality – Six Sigma & CMMI :-

Sigma XL:

A powerful but easy to use Excel Add-In, that will enable you to Measure, Analyze, Improve, and Control your  service, transactional, and manufacturing processes. This is the perfect tool for Six Sigma® Green Belts, Black Belts, Quality and Business Professionals, Engineers, and Managers. SigmaXL is a fraction of the cost of any major statistical product, yet it has all the functionality most professionals need.

JMP:

Discover Dynamic Data Visualization. Discover Things You Never Expected. Statistical discovery software that’s fast, powerful and totally interactive.

For Further Information, Helpful Resources and Queries, Kindly Visit http://www.binarysemantics.com/SoftwareProduct/Index.htm

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Mobile App usage in India – Eye Opener for Organizations!!

With the penetration of Smartphone and internet enables mobile phones, the Mobile Applications and Mobile Websites have witnessed surge in its usage opening up a new window for Companies to enhance their market share with Utility mobile application development company that can offer great assistance to prospective and existing users that may increase customer satisfaction. India has witnessed strong growth in usage of Mobile phones over past decade emulating the traditional landline phones. The same trend is seen for Smartphone usage and Mobile Applications. Indian Youth is finding the mobile applications quiet useful for shopping and gathering product updates. According to eBay India Mobile Commerce Survey Mobile Assisted Commerce (MAC) has grown to a new level as over 94% of Indian smartphone users access the internet on their mobile. The study of eBay says that 68% of users have made an online purchase using their smartphones. Youths are the driving market for m-commerce and the survey reads that gadgets are the most popular online purchases. Over 68% of mobile internet users have bought gadgets on their smartphone followed by 40% who have bought clothes and footwear and 34% who have bought books.

It is been observed that m-commerce is proving to be an extension of service desk for ecommerce portals and local retailers. The people like to surf about product and related information on internet using their smartphone itself before they go for purchase. 84% of the M-commerce users use their smart phones to check product prices. 65% users used it to locate a store, 57% users researched product features before making a purchase, 55% of users looked for deals and 48% users said that they checked product availability. Samsung & Nokia (40% each) are the smartphone of choice for the mobile Indians. The iPhone (17%) is the third most popular smartphone brand.

All this depicts, mobile apps are proving to be an out of store and in pocket shopping facility to consumers these days and they are also happy to follow the trend with convenience. It would not be wrong to say, people are no more willing to make shopping as burden and time consuming activity. They like to find things whenever hey like and not willing adopt time bound shopping.

Businesses need to think to give the best experience and easy accessibility of their store, products, services, facilities etc. Small or large enterprise, all have their specific needs and scope to enhance consumer services by adopting the new medium where in Mobile Application Development is the current trend. India being an IT hub has pool of iphone applications development Why to wait in this competitive world? You may give your business a better push by adopting latest trends!!

Things for Interactive E Commerce Application

1. Landing Page: It’s in demand and becoming necessary also. With Online Advertisement and PPC, It becomes very important to make a very good impression on customer with your e commerce website design. Aesthetically designed landing page can entice customer to go for the next pages. Remember to claim in landing page what you really offer.

2. User Interface: It’s the most basic thing required for buying user time on e-commerce solutions that everyone organizations thinks to provide yet gets confused to provide the same. Hitting the bull’s-eye with best offering which is in Demand and also profit making for Business. It will produce impetus for consumer to dig in more into the website.

3. Online Chat Box: It is good to integrate a chat box on your ecommerce website design. It helps you convert visits on your website into conversions. The online chat box may help the user for clearing possible confusion in his mind. Assistance with 24 Hours of helpline is always a plus Point!!

4. Social Media Widgets: Everyone is active in so called Social Media Bubble these days. It becomes trend if it’s of worth. As a business organization, try and open discussion on every product you offer and give its integration with Social Media Channels. All people to share with friends, family through email, Social Websites etc. Observations: - www.flipkart.com which is India’s one of the biggest retail giant recently advertised about its reply back on twitter within 10 minutes. The company is actively present on Social Media Channels and focusing on Prompt Customer Services.

5. Build Online Reputation: With accessibility of online medium, there is urgency for Online Reputation Management Also. Your product/ Services can get viral for Positive and Negative remarks both. Establish a complaint cell on all Online medium where you have presence and actively think to respond on daily basis. You should be sporting to listen about your mistakes. It will help you improvise your services.

Tools: www.socialmentions.com

This website finds real time discussion about keyword, topic, and brand across universe on Social Media Websites. It bifurcate the view points into positive and negatives

6. Feedback Form: It’s a recurring practice that businesses need to understand its importance. A feedback is a mirror image to your service offerings and proactive step to aggrandize the quality commitment in services Offered.

Is it Better Choice to Outsource SEO Services to India For Affordable Budget?

SEO is a set of practices that supports in building your business online to get traffic to your website and convert this traffic into profitable customers. In the era of internet the world is swiftly shifting towards new technologies that are building the businesses outpouring. A business can choose different ways that benefits it to get reputation. Outsourcing SEO Services to India is one beneficial way that aids in making online existence. Outsourcing SEO services has come to be a drift and many entrepreneurs keep an eye on it to get more profit from their venture. India is one of the ideal destinations to outsource SEO Services. Major motive behind this is convenience of large technical capability and state-of-the-art, low cost SEO Services.

Seo Services in India can comfort both the clients and SEO agency. The clients can emphasis on more vital business deeds while outsourcing the SEO activities to a SEO agency in India that focuses in SEO work. India has well status in providing ITES services. Companies can get SEO results at a very low rate from India as equated to the other counterparts around the world. The experts here are proficient in conduct the client's assignment proficiently and have familiarity in management such SEO workout as India has been providing SEO Services for more than a decade now. In India class of the SEO services is engaged utmost attention. An owner of a website or a company desiring to acquire a high rank in the search engine needs a lot of carry on and truthful hard work to achieve top ten organic rankings in major search engines. Best SEO Services comprise lot of undertakings like upholding the website individuality with fresh content and thus alive it more valuable than other opponent's website.

There are two forms of outsourcing practices .Either you can outsource Seo Services to a well established company or outsource to a freelance professional. However, a company is the faithful destination as SEO is directly concern with online reputation of your business.

6 Simple Ideas for Innovative Mobile App for Your Business Growth

We come across requests for Mobile Application Development from different Businesses. We also get excited when we understand innovative Ideas that erupt in mind of Business Professionals. It’s a fact that a person owning a business posses better knowledge and understanding about application of modern day technology and communication tools. Whether a small retailer, medium enterprise or big organization, everyone wants to implement mobile application for various business objectives that includes building customer engagement, customer satisfaction, increasing market share, increasing sales, enhancing customer experience, optimizing business processes etc. and are in need of quality mobile application developers.
Following are few Ideas for Mobile Application Development that may help you in your business:-

1.Beauty Tips
Genre: Informative App
Objective: Enhance Customer Engagement and Satisfaction
User: Beauty Parlors
Description: You may develop a Mobile App wherein you offer beauty tips for skin, the precautions to be taken etc. and can publish new ways to protect skin. You may add functionality wherein you advice the food intake as per season that can benefit customers.

2.Food Delivery
Genre: Business App
Objective: Increase Revenue and Enhance Customer Services
User: Restaurants
Description: The mobility has provided out of store and in pocket solution to customers. Consumers may prefer to sit back and order from comfort of their home. With such Mobile Application company can increase revenue by increasing number of orders through convenient Applications and Enhance customer services.

3.Daily Deals
Genre: Business App
Objective: Increase Market Share and Customer Engagement
User: Restaurants, Health Spa, Retailers etc.
Description: Indian Consumers are prone to Window shopping and they love to bargain. In a strategic move to highlight new products or to increase sales of specific products and services can go for customized mobile application development to keep your existing customers engaged in your brand by offering them attractive discounts. You may add functionality to share or tag on social networking sites and tagging sites. It will bring overall benefit comprising increased market share, customer services, market buzz etc.

4.Navigation and tracking App
Genre: Business App/ Personal App
Objective: Optimize resource to increase efficiency
User: Transporters, Radio Taxi Service Providers etc.
Description: This app is quiet popular yet to be implemented by many. We understand the utility of vehicle tracking system to ensure safe transit of passengers across terrains. With such app you may track down location and save time usually consumed in communication and job assignment. It may be used for personal vehicle tracking when chauffer is driving your vehicle.

5.Recipe Guide
Genre: Utility and Business App
Objective: Customer Services
User: Restaurants, Chefs, Magazines Publishers etc.
Description: In India, female spend time on Smartphone applications equivalent to male. It’s been observed women are engaged more in social media and informative apps. You may go for iPhone Application Development or Android Application Development with such application. The professional working women would like to try new things or even regular things through these mobile applications.

6.Education Games
Genre: Education with fun and entertainment
Objective: User Engagement and Performance enhancement
User: Play School & Schools
Description: Indian education system is developing with good pace and more emphasize is now given on overall development instead of what it was earlier that focused on educational and academic development. As a school or play school you can go for iPad Application Development or Android Application Development for Tabs that may give education and entertainment together. The availability of E Learning Chapters on Tabs may increase interest level.

I have given few ideas wherein I have not given detailed application, functionality and features that can enhance the utility of Mobile Application for your enterprise because it may vary with individual Business Process. My attempt is to bring out ideas from organizations itself for Mobile Application Development and its application for Business Processes and Customer Engagement.

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.

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 Décor 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.