Our first step when approaching a BI initiative is to conduct a thorough project assessment which lays the foundation for a successful project strategy and deployment. During this phase we evaluate the project’s scope, timing, resources, requirements, and especially the project objectives. This is the time to pin down precisely the questions that the project is geared to answer and make sure they are the right questions. We also investigate the client’s existing technologies and assess the structure and quality of the available data in terms of its readiness to support predictive analytics. Finally, we build a project plan to ensure a smooth and well-designed flow for the project.
Drawing on the knowledge gained during the assessment, we design and build the models that will yield the desired intelligence – using the appropriate for the business situation – while ensuring that the data is accurate and the models are geared towards answering the right questions.
The key to successful deployment is not simply installing and executing the model, but rather interpreting the results and making them useful.
Ultimately, we evaluate the output and measure recent performance results – and reassess. Are there new questions that need to be answered? Can the models be enhanced to produce more targeted results? With an iterative approach, knowledge discovery is ongoing, as each stage of the process can drive further opportunities for deriving business intelligence from raw data.
Tools of the trade
Business intelligence relies on accurate and reliable data. Our experts can quickly create a database that fulfills your needs, integrating information across multiple systems and platforms, or, if necessary, we can enhance your existing database. We ensure that you’re capturing everything that’s relevant and that the data is significant, clean and reliable.
Once the data integrity is confirmed, the BI process uses state-of-the-art software to sift through your data and identify meaningful patterns that traditional reports don’t reveal. We then build customized models – abstract representations of reality – to solve your particular business challenge. Our tools can yield powerful solutions to problems such as attrition, retention, and profitability – answering questions such as:
• “Which customers are most likely to default on their loan payments?”
• “Which customers are most likely to respond to my latest product offering?”
Finally, using methodologies, we help you investigate past performance and develop fresh insights that can drive present business decisions.