Business Intelligence for the Finance Industry

The banking and finance industry is experiencing continuous changes brought about by advances in technology. The changes are welcome - however not without the accompanying challenges.

As a result, the kind of market we now have is dynamic and Wall Street is making the necessary adjustments, not to dampen vibrancy in the market, but to improve strategies in line with the changing technology. That requires developing new tools and implementing them correctly.

Business Intelligence (BI) Tools for Financial Institutions

There are a lot of tools that have been developed and ones that are worth discussing about are business intelligence tools that help managers identify better management practices and make smarter business decisions. A finance management dashboard is one of these tools.

Here’s a quick look on how this kind of instruments can help in those areas and in other areas such as profitability, reduction of risks and creating competitive advantage.

  • Operational Efficiencies

Improving efficiency is a key to winning in the competition. BI tools can analyze how efficient are the operational processes leading to maximization of resources and expertise and to reduction of operational cost.

How good are you at customer experience? A dashboard can help you improve this at the point where your employees and customers come face to face.

  • Products and Services

BI tools do not only allow managers to track which products and services are performing well but also give them insights on the needs and experience of their customers.

  • Marketing

Do you want to know the best market segment to target? A simple dashboard is all you need to have a good picture of it. The tool can also show you which customer profile gives you the highest revenue and the one that should be put lowest in the list of priorities.

  • Customer Retention

There are customers who are loyal to you. You need to know the reasons why they are staying with your business, but you also need to identify why others are leaving.

Business analytic tools can help you determine the reasons why and lead you to taking steps to improve your retention rates.

  • Risk Reduction

This is an ever-changing world where nothing is 100% certain. How would you keep track of your customers and internal organizations so that you can early detect possibilities of fraud?

You can use BI tools for this. There are also lots of benefits from knowing your clients’ financial capacities, which a dashboard can provide you 24/7.

  • Investment

At some points, managers run out of invest ideas and strategies. The good thing about BI tools is that they can bring in “new” results from real-time data.

New results mean new things that can be explored further for better decision making and development of new approaches to investing. That’s the kind of data and analysis only a dashboard can bring to your organization.

As an example, the number of cars on a shopping mall’s parking lot can be useful in triangulating consumer research. Recently, images from satellites are used to gather data of the global supply of fuel.

These and more examples clearly show how indispensable BI tools can be in the conduct of modern business.

Read more at http://www.infocaptor.com/dashboard/business-intelligence-for-the-finance-industry

Comments Off on Business Intelligence for the Finance Industry

List of “Dashboard” Startups and Products

The idea of building a dashboard application has become synonymous to the idea of a developer thinking let us build a "To-do" application.

This is evident by the sheer amount of dashboard related applications that developers/founders have submitted to Hacker News over the past several years.

The dashboards range from wide spectrum, on one side to personal dashboards, project management dashboards, network dashboards to full blown social media dashboards.

If you are looking to build the next dashboard application or just shopping, it is very interesting to look at all the "Show HN" Dashboard submissions

Read more at http://www.infocaptor.com/dashboard/list-of-dashboard-startups

Comments Off on List of “Dashboard” Startups and Products

Benefits of Dashboards and Analytics for Hospitality Industry

Briefly, dashboard software offer a method of collecting and organizing data. Using simple access points and display functions, this software can provide their users with snapshots of measurable metrics that they can then use to make better decisions, in this case, on running their establishments.

Enabling informed decision-making is one of the primary benefits and use of dashboard for hospitality.

The hospitality industry is rapidly growing. And with competition at every corner, it is important for hotels to properly manage their operations. Also, to have access to reliable metrics that will help them develop business strategies that can be capitalized on.

This is one of the reasons why business dashboards are essential. For one, a dashboard can help hotel managers facilitate the different departments under their supervision.

One of the highly-valued benefits and use of dashboard for hospitality is obtaining valuable analytic data that clearly presents how each sector operates, their efficiency, and of course, how every action translates to costs and savings for the establishment.

Basically, a dashboard provides you with a picture of how well your hotel is running. It offers easy-to-understand charts, graphs, and measures at a glance. Simple and effective, there is no need to exhaust valuable time and energy reading and interpreting data as the system does these for you.

Read more at http://www.infocaptor.com/dashboard/how-can-hospitality-industry-benefit-from-dashboards-and-analytics

Comments Off on Benefits of Dashboards and Analytics for Hospitality Industry

Benefits of Dashboards for Healthcare

Data backing is extremely important; measurable, accurate metrics more so. In industries, such as healthcare, metrics allow for better strategy formulation and implementation.

Although it is not as easy to convert users of so-called tried and tested management methods, there is a chance of effecting change when increasing costs and decreasing revenues enter the picture.

These days, data is not as difficult to obtain. And when you are running a healthcare business, this is not something you can just turn your back on.

Health costs are always on the rise, leading to the entry of service providers offering to provide healthcare services at a fraction of the price. This then, makes the competition for consumers fiercer every day.

Thus, it is essential to have measurable data for everything from patient spending, operational costs, profits and losses, and the like. These are what KPI performance dashboards for healthcare aim to provide.

Comments Off on Benefits of Dashboards for Healthcare

Importance of Analytics for Higher Education

More institutions are now taking advantage of Analytical Dashboard Software, whether it be in the form of Excel Dashboard Software or Online Dashboards using some kind of SAAS service - study plans are developed based on data taken from students. Because of Analytics, courses have been tailor-made for classes, and one class is unique from another. Analytics also provide a gauge for academicians to rate their institutions and themselves, using it as a tool for improvement and solutions-based programs.

The Role of Analytics in Higher Education

In a study for ECAR 2012, various words and themes emerged to define analytics. These are classroom use, prediction, automatic data, Google, course distribution, data mining, and metrics. Synthesizing these terms, analytics is defined as the process of gathering and interpreting data to address, give light to, or answer a strategic question.

Read more at http://www.infocaptor.com/dashboard/benefits-and-use-of-analytics-for-higher-education

Comments Off on Importance of Analytics for Higher Education

5 reasons you should use dashboards in marketing industry

What's the first thing you look at when you flip on your computer screen in the morning? What's the item you peek at on your phone even when your dinner partner wishes you'd leave work behind for the evening? For most people that addictive checking-tendency applies to their emails, but the truly business-savvy marketers are addicted to looking at their dashboards!

And why is that? It's because dashboards provide a true and comprehensive look at everything important that is happening in your business.

With a well-constructed dashboard, you can see exactly where things stand with your business, literally at a glance. Let us just break down the benefits for you!

Read more at http://www.infocaptor.com/dashboard/5-benefits-of-dashboards-in-the-marketing-industry

Comments Off on 5 reasons you should use dashboards in marketing industry

Google dashboard for lazy businessman

Categories: Dashboard

Once you start your own business or startup, the very first thing that comes to mind is "How many visitors did my website receive?"

Google Analytics provides tons of metrics and it becomes quite a chore to keep up with all the dashboard pages and filter options. As a small biz owner myself, I went through a phase where I ended up spending significant amount of time checking out Google Analytics

To save time and mental energy on a daily routine task, I asked "What are the most basic metrics I need to measure from Google Analytics?"

The answer pretty much came down as a need to have "one page dashboard that displays various metrics".

Read more at http://www.infocaptor.com/dashboard/what-are-the-bare-minimum-traffic-metrics-that-i-can-track-easily

Comments Off on Google dashboard for lazy businessman

Google dashboard for lazy businessman

Categories: Dashboard

Once you start your own business or startup, the very first thing that comes to mind is "How many visitors did my website receive?"

Google Analytics provides tons of metrics and it becomes quite a chore to keep up with all the dashboard pages and filter options. As a small biz owner myself, I went through a phase where I ended up spending significant amount of time checking out Google Analytics

To save time and mental energy on a daily routine task, I asked "What are the most basic metrics I need to measure from Google Analytics?"

The answer pretty much came down as a need to have "one page dashboard that displays various metrics".

Read more at http://www.infocaptor.com/dashboard/what-are-the-bare-minimum-traffic-metrics-that-i-can-track-easily

Comments Off on Google dashboard for lazy businessman

Importance of visualizations and analytics for small business owners

Categories: Dashboard

Small business owners are all about "Getting the biggest bang for the buck". We as small biz owners want everything to work efficiently and make sure no resources are wasted that includes human resources, time and money.

The question now is "How do you make sure your operation is efficient?" Not by any magic! But you already have the data that can be used to your advantage. Times have changed and Business Intelligence tools are no longer limited to rich corporations. Forget the full Business Intelligence stack, with your data and an easy to use visualization tool can quickly help you deliver "Gold mine" of information.

There is no doubt that the right visualization tools can help small business owners in their way to success. It is just matter of putting your focus on "being more efficient and nimble".

Read more at http://www.infocaptor.com/dashboard/benefits-of-visualizations-and-analytics-for-small-business-owners

Comments Off on Importance of visualizations and analytics for small business owners