Uncategorized

Comparison: Business Intelligence vs Excel

Are spreadsheet solutions like Excel becoming obsolete? With data sets getting bigger and bigger, growing companies need intuitive and real-time tools to make the most of their data.  Traditional spreadsheets have been the bread and butter for businesses for decades. Their universal usage has made them the tool of choice for planners, accountants, and entrepreneurs around the world. For growing businesses taking advantage of our current age of ‘Big Data’, however, more sophisticated tools are essential moving forward. Business Intelligence (BI) software is one such tool that gives leaders the power to make informed, timely decisions based on their data. Through the processes of analyzation, visualization and prediction, executives can identify competitive advantages, streamline action plans, find new opportunities, and boost revenues. Spreadsheets, on the…

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Uncategorized

BI for HR: Hire, train and retain with business intelligence insights

“Start with good people, lay out the rules, communicate with your employees, motivate and reward them. If you do all those things effectively, you can’t miss.” – Lee Iacocca   Gone are the days of overlooking human resources as a vital piece of the business success puzzle. Worker well-being, a blended workforce (AI, freelancers, contract workers), continued trainings, workplace experience, inclusivity — all trends that support the emergence of a people-first business world. At the end of the day, employees are a business’s most valued asset, and happy employees directly translate to happy customers and higher profits.  With growing HR initiatives, understanding the impact of data generated during employee life cycles is critical. And what we glean from that data can jumpstart company processes in…

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Dyntell Bi - How Well Do You Know Your Customers’ ‘Price Sensitivity’?

Sales

How Well Do You Know Your Customers’ ‘Price Sensitivity’?

Price sensitivity is a key measure in most industries, especially those with many competing products (FMCG, for instance). Price sensitivity is measured in the economic theory via price elasticity of the demand function. In other words, how demand for a given product is affected by a change in price. High elasticity means consumers are willing to purchase even with increased costs. Inelasticity, on the other hand, means even a small price bump will significantly reduce purchasing. What we want to find is the ‘equilibrium price’, the point where supply and demand meet to maximize revenue. There are many factors to consider when discussing price sensitivity: competition, uniqueness of the product(s), buying process, etc. Other things to consider could be shared cost, like when a group…

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Prediction

Analyzing the Fear Index

The fear index is something that you might have heard before; it’s a phrase widely used between stock market investors and traders as a general term to describe volatility in stocks. ‘Fear Index’, also sometimes referred to as the ‘fear gauge’, refers to the CBOE ‘Volatility Index’ – or the VIX. The VIX is used to measure the expected volatility on the stock market. It makes use of S&P 500 index options to calculate, to an extent, any predicted variance (or volatility) for the following 30 days. How Stock Prices Correlate with Market Volatility It’s hard to say for certain whether the Fear Index is an accurate way to measure or predict future realized volatility, as there are always outside contributions that may affect the…

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