Only a few years ago the very thought of having the kind of access to detailed, resourceful data that we have today would seem highly unlikely. Making informed organisational based on data from a range of sources was, if at all possible, time consuming and often lacked accuracy.
Today, organisations are collecting more data than ever before and the challenge has become the task of effectively differentiating insightful data from the rest and using it to deliver actionable insight to the business. Whilst terms like big data and advanced analytics are buzz words in the current environment, the importance of knowing and understanding your data cannot be taken lightly if you want to continue to have a competitive advantage.
Making key decisions based on a hypothesis or opinion lacks the certainty that indisputable data can provide and, whilst effective data analysis is no longer limited to multinationals and large organisations, the biggest barrier to entry is how to extract and blend data in order to create insightful datasets.
Where to begin
The first step in deciding what data is beneficial to your organisation is to identify achievable KPI’s that outline the particular objectives you wish to accomplish. Once these KPI’s have been identified, data can be extracted from a range of sources including Finance, Operations, HR and Marketing systems for blending, manipulation and presentation.
Data Exploration Solutions
Whilst there are plenty of tools on the market available for data cleansing and blending, advanced analytics platform KNIME is a market leading open source solution that gives you the ability to explore, manipulate and analyse large amounts of data with a high degree of ease and accuracy. With more than 1000 modules, hundreds of ready-to-run examples and the widest choice of advanced analytics algorithms available, KNIME Analytics Platform is the perfect toolbox for analyists regardless of experience.
For the 5th consecutive year, KNIME has been awarded highest rankings on the Gartner Advanced Analytics Magic Quadrant for its ease of use and innovation in the field. Learn more about KNIME
What if I don’t have the resources for in-house Advanced Analytics?
For many businesses, a flexible and cost-effective alternative option to keeping all data blending, warehousing and presentation in-house is Business Intelligence as a Service (BI-as-a-S). This solution helps obtain a solid Business Intelligence project up and running faster, with less strain on your IT department and without the human and financial capital required with an on-premise project.
Forest Grove Technology’s BI-as-a-S is a simple, flexible option that allows you to focus on the presentation and insight gathering aspects of your data journey. The robust combination of KNIME, Amazon Redshift and your Business Intelligence software of choice makes it an agile solution for a growing business. BI-as-a-S is a fully scalable solution that can start small and grow as your business does thus keeping IT expenditure to a minimum.
BI-AS-A-S allows you to save time, cost and pressure on IT resources and enables you to spend more time analysing and understanding your data. Backed by Amazon Redshift, your data is securely stored in a hosted cloud server letting KNIME blend and extract data whilst you’re working on dashboards and visualisations. Learn more about BI-as-a-S
Forest Grove provides project clarity to Rio Tinto
Forest Grove Technology were given the task of providing the Project Controls team within the Iron Ore division a unified end-to-end solution blending source systems, ensure data governance principles are adhered to, build an agile and dynamic data warehouse and providing interactive Power BI dashboards and visualisations.
Forest Grove deployed a combination of KNIME, Amazon Redshift and PowerBI to create an agile, high performing data platform. This solution aligns with their current IT strategy and existing vendor relationships.
Learn how Forest Grove Technology has helped Rio Tinto gain a complete 360 degree view of their projects and capital expenditure by combining cost, risk and performance information from multiple systems and architectures.
If you would like to know more about Business Intelligence as a Service or KNIME Advanced Analytics we encourage you to contact us.