5 Ways to Use Your Leftover Analytics Budget

It’s that time of the year again – just a few short weeks in 2019 and 2020 is going to be knocking at your door.

But in order to keep your analytics budget from shrinking next year, you need to make sure to spend all leftovers.

So, how do you spend it? Simple! You invest it in something that will give you a head start for 2020.

Without further ado, here are five ways you can spend your leftover analytics budget that will help you be more efficient in 2020.

Data Auditing

Data auditing is an important part of your data strategy and hence an ideal way to spend your leftover budget.

An effective method of weeding out errors, data audits can help you tackle major business concerns by identifying anomalies and data breaches. It also helps:

• Reduce errors
• Maintain compliance
• Improve customer service

Integrations with Connectors

Data is growing rapidly.

Analysts are faced with more disparate data sources than ever. Being able to access this data and incorporate it into their analysis is critical to improve the accuracy of their results.

However, retrieving data from different platforms for analysis has always involved some amount of manual work, thus costing and reducing productivity!

Grazitti’s Alteryx connectors empower you to perform better analysis with Alteryx by automating the data fetch from a variety of platforms.

Data Migration: On-Premises to Cloud Data Warehouse

According to a report by Rightscale, 96% of companies now prefer using cloud computing. As cloud technologies proliferate, cloud-based data warehouses have become a popular option.

A dedicated cloud data warehouse is a great option if your data and query complexity grows or if you want to prevent your heavy-duty analytics workloads from interfering with the performance of your OLTP workloads.

For starters a cloud data warehouse –

• Is self-service and user-friendly
• Requires lesser investment
• Helps you identify business trends, make future predictions with machine learning, data science, and AI
• Builds reports pulling anything you want to know from multiple data sources
• Track data and performance across your organization with mixed-load analysis

Dashboard Redesigning

Dashboards make it simple to comprehend vast amounts of data and facilitate faster decision-making. By redesigning your dashboard for 2018 and matching it with your branding through company colors, logos, and style, you can ensure that it does not lack any essential elements that encourage easy understanding, such as:

• Whitespace – Surrounding the graphic elements, it improves readability and understanding.
• Charts and graphs – Knitting and presenting your data story through charts and graphs is always better over a data table.
• Maps – Presenting customer data based on locations and markets on a map, helps discover the strongest sales areas.

You can simplify a busy layout by tailoring it for your target audience. This makes the dashboard user-friendly and intuitive. Also, it can help users easily identify the latest trends and predict outcomes.

Intelligent Modeling for Complex data

1. Predictive Analytics Models –

Every day more than 2.5 quintillion bytes of data is created! Somewhere in this data lie patterns. Uncover them and you stand at predicting future outcomes.

This is exactly what the branch of data science, predictive analytics focuses on. It is said that predictive analytics is the backbone of data-driven marketing. If you haven’t invested in it, the time is now! Here is where you should invest in –

• Customer Churn
• No Show Analytics
• Lead Scoring Model

2. Chatbot & NLP Models:

According to a study, 63% of people prefer messaging an online chatbot to interact with a brand.

Chatbots have become even more prevalent over the last few years! However, the introduction of Natural Language Processing (NLP) in chatbots means adding a more human touch.

If you’re looking for some guidance on some of these points, get in touch now! Don’t wait until the end of the year; reach out to us today and we’ll help you finish 2018 with a bang!

Want more help to spend your analytics budget? We’ve got your back!