Successful companies, regardless of their size and industry, utilise the power of business intelligence and analytics. Business intelligence leader Effective Intelligence (EI) recently shared a range of advantages that its analytics solutions offer.
EI serves a discerning client`ele, having developed and optimised numerous state-of-the-art business intelligence solutions. The company talks about eight major differences between the analytics it offers, and those offered by conventional analytics.
First of these relate to modelling techniques. Unlike conventional analytics that are often constrained by credit experience and only primarily based on availability of standardised data, EI uses more refined modelling techniques based on data quality and data enhancement.
In the case of model interpretation, EI maintains a more robust model by combining expert statistics with deep business experience. This is in contrast to conventional analytics that relies too much on standard statistical metrics.
Effective Intelligence also revealed that it ensures better correlation to roll out campaigns by developing special testing techniques while most companies are restricted by their standard statistical approach.
Model deployment is another important analytical aspect where EI better serves its clients. Where conventional analytics companies are busy battling for the business to buy in as they deploy models operationally, EI takes a better approach. It utilises a combined team of analysts and business specialists, which is backed by an in-house Data Quality (DQ) bureau and software team, ensuring optimal deployment.
Speaking of modelling environments, EI revealed that its environment comprises analysts using a number of statistical solutions specially developed to solve South African problems and not reliant on SAS or SPSS algorithms only.
EI also revealed how its data structure quality standardisation is significantly better. Most providers have limited tools and lack sufficient experience. Effective Intelligence, on the other hand, has a full-fledged DQ bureau with advanced tools such as its proprietary InfoArchitect, which enables EI to provide unique data enhancing and supporting, improved predictive models.
The majority of conventional analytics companies don't perform customer data content updates because they don't understand why it is important. EI, on the other hand, ensures content correctness, as a prelude to data enhancement as it can affect outcomes.
Data enhancement itself is one of Effective Intelligence's eight analytics advantages. While most conventional analysts only perform ID linked enhancement to credit performance data, EI's enhancement is more comprehensive, covering details related to persons and households, local geography, address type, and many others.
Talking about the competitive advantage EI delivers, Julian Ardagh, CEO of Effective Intelligence, remarked: "Our competitive advantage is their (EI clients') competitive advantage." He added that "other business intelligence companies offer analytics tools, but close to none offer analytics solutions that cover the entire business enterprise". According to the CEO, this is where Effective Intelligence's superiority shines across diverse industries.
These differences indicate a sharp contrast between Effective Intelligence's ability to provide a comprehensive analytics solution and that of conventional business intelligence companies.
In light of these recently revealed advantages, which have always been part of Effective Intelligence's solutions, it's clear that all analytics are certainly not created equal.
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