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Data driven decisions – summary so far

At DataQuarks, we are truly passionate about data and analytics and have written about various aspects of data driven decisions. Recently a reader suggested writing a super blog post to combine various topics we have discussed until now. Thanks to that excellent suggestion, we are writing this blogpost to summarise our views on all the topics we have written in this quarter. We can definitely see this becoming a recurring exercise. It not only helps our visitors get a high level picture of our direction,

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Part 2 – What-If analysis usecases – Pricing

In part 1 of the series, we covered some of the key aspects of What-If analysis when applied to financial analysis. Pricing is an equally important use case, as probably nothing matters more to the profitability of a business than the price it is selling the products or services at. There are plenty of market forces at play (external factors) as well as the many internal factors that impact the cost to produce the product or service. So, it is easy to see why this as an extension to

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Use cases for What-If scenario modelling

What-If scenario analysis is a very powerful framework for taking decisions. It is a general misconception that it mainly caters to macro-economic scenario modelling. While that is certainly one of the use cases, there are some interesting examples from a micro economic perspective too. In this 5-part series, we plan to cover some of the most common use cases of the same. Financial analysis Pricing Logistics planning Evidence for business proposals Customer modelling Applications in the Blockchain and Smart Contracts space We would like to start

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On a level playing data field for a small business

Running a start-up or a small and medium business has lots of challenges. The ability to get new clients, marketing and media exposure, attracting new talent, everywhere Davids are up against the Goliaths. More so when it comes to the use of data for taking decisions. Large companies have been at the forefront of adopting technologies to foster innovation for strategic advantage. They procure the latest in technology, build strategic partnerships with leading technology vendors, have an large of analysts and developers to build highly focused analytical solutions for

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3 things about a no frills data analytics platform

In a recent conversation with an ex-colleague of mine, he noted while I was demonstrating our platform that small and medium businesses can use it is a no frills tool for building a Data Warehouse (DWH). To be honest, I would have previously never associated that term with a B2B SaaS product. And when I was thinking about it afterwards, it started making sense. Objective Firstly, let’s start with the main objective of such a platform. The big names that would come to your mind when you hear

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Embrace the dark data matter

Companies, big and small, all have the same problem when it comes to data analytics. Despite the best efforts of IT and senior management, business users end up building shadow BI/data systems of their own. Talk to anyone who has been part of a large scale BI implementation, they would readily accept that the end result turns out to be to just take data from the right sources, clean it and provide in an Excel format. So much so that, in many a places, the busiest time for

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Data Utopia – steps to reality

What is a data driven organisation? Getting a bunch of reports delivered to business users in the organisation or building some beautiful looking dashboards that executives have access to is just a start. The next step of using the data and insights to support any decision taken within the organisation seems to be a step too far for most companies. So how do you go from let’s create reports of what happened in the past to let’s take decisions only when we have modelled them

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5 key reasons why your organisation does not need collaboration in decision modelling

If you look at decision modelling as an organisational task, it is no different to development, sales planning, marketing, project planning or the other hundred thousand tasks that we perform in our daily corporate lives. Tools such as Slack, AnaPlan and Atlassian have enabled collaboration for many of these tasks and led to tremendous efficiency gains. No wonder they are market leaders, member of  unicorn club and used by millions of users worldwide. But does collaboration even make sense in decision modelling? Let us look at five reasons

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4 questions about Brexit your business should be asking

With the proposed referendum in the UK about EU membership, businesses have to perform a thorough analysis in the coming months to understand the impact of Brexit. It is not all about trade barriers and access to a wider market though. There are factors within a business that you can measure using data available in the corporate systems and develop mitigation plans if Brexit is found to have an impact on the financial performance. Business leaders should be asking the following four questions to get

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Brexit and its impact on a company performance

Brexit (referendum in the UK about EU membership) is not all about macro economics and trade between countries. It is a potential Operational Risk and has a real impact on individual companies, as the corporate wheel has very various cogs from European Union. Employees, customers, suppliers, investors and investments. What would be the most likely impact on your organisation, what is the worst case extreme scenario that can affect your organisation, or the best case scenario with the least impact that could even result in a positive

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