EzDataMunch - BI Dashboard & Consulting Services

[ezdatamunch]

QlikView Vs Qlik Sense Comparison – Which is Better BI Tool

The demand for business intelligence tools has increased over the past few decades. BI tools are becoming a new source of providing efficient data storage and transportation. Well, many companies have already experienced with Qlik and realized the power of Business Intelligence tools. Whereas if we talk about business intelligence tools, then Power BI and Tableau are also the most popular sought-after tools.

Analyzing the reviews of the company, we can positively say that Qlik delivers some great results to its customers. With Qlik businesses not only gain deeper insight into their business but also analyze, consolidate and search data with ease. We may use Qlik products when we are working in Qlik's companies, but we cannot identify the differences between two of Qlik's essential products, Qlik View and Qlik Sense.

To help you identify those differences, we provide this article, and we cover all the essential differences between Qlik View and Qlik Sense. Let's look in detail.

What is QlikView

QlikView is a guided data analysis and visualization tool that enables users to explore, drill down, fetch, integrate, process and analyze data from various data sources. QlikView allows very limited control for the user to create their own visualizations.

QlikView can be used to develop data models, analytical applications, dashboards, visualizations to create analytical reports and they can be delivered to the end user through access points. QlikView is offering the best when you want to create business applications for data analytics.

What are the features of QlikView?

·       QlikView is capable to run on both locally or on an on-premise server

·       Optionally QlikView is also a cloud solution

·       QlikView is famous for pixel perfect design

·       Promotes a dynamic BI ecosystem for better interactions

·       QlikView is known for easy creation of complex dashboards

·       Guided and advanced analytics

·       Capable of building guided analytics applications and dashboards

·       Presence of connecters that are both custom-made and default

QlikView Dashboard Example

What is Qlik Sense

 Qlik Sense is a powerful self-service data discovery and analysis tool focused on ease of use for the user. Qlik Sense gives the user complete control over access to pre-built charts, which means you can be a more active, engaged user.

Qlik Sense is introduced in the business intelligence tools market with updated technology which means users can make use of various user-friendly features like visualization and trendy data analysis. Qlik Sense has a simple drag-and-drop interface that allows for the creation of flexible and interactive visualizations that are displayed in a clear, orderly manner. Qlik Sense's user-friendly approach helps users quickly and easily create a visualization that tells a story without involving the design elements

What are the features of Qlik Sense?

 ·       Qlik Sense provides smart analytics visualization with drag and drop capabilities

·       Quick and reliable connections to multiple data sources

·       Fully web base with HTML and JavaScript supported

·       Mobile responsive supported in all screen mobile sizes with easy touch response. Available in iOS and Android apps

·       User-friendly and open API

·       Smart search options like Google and associative functions

·       Self-service data discovery

Qlik Sense Dashboard Example

What are the new capabilities in Qlik Sense?

Qlik Sense is a next-generation, self-service data visualization and analysis application that enables individuals, groups and organizations to rapidly create and share visualizations and dashboards without specialized development skills.

·       Qlik Sense does not require a 'build-and-publish' approach, as each user can simply drag-and-drop to build or enhance their visual analysis.

·       Qlik Sense allows users a smart search experience. Simply type numbers or words to start analysis from the entire data set.

·       For beginners, learners or trainees Qlik Sense provides smart visualization that helps to detect patterns with visualization by dynamically updating and highlighting new information and associations based on selection.

·       The data storytelling feature in Qlik Sense allows people to capture and share their insights one at a time in a presentation format.

·       Open Standard APIs support web app development for complex applications, allowing organizations to use Qlik Sense in new ways, among other technologies.

Difference Between QlikView and Qlik Sense

There are many similarities between QlikView and Qlik Sense, but each caters to particular markets and needs, with different purposes. In the below infographics, you can see a complete difference along with the features.

List of QlikView and Qlik Sense Common Capabilities

Centralized sharing and collaboration

The important operation in a situation where a team or group of users are involved in data analysis is sharing and collaboration. You can also use RESTful API connectors to connect and integrate with data sources such as LinkedIn, Facebook, Twitter, Adobe etc.

Mobility and Ease of Access

Mobile touch capabilities are making better and better with every new version of Qlik View and Qlik Sense. Thus, users get great mobility and ease in data analysis, report generation and sharing on the go. We can use Qlik View and Qlik Sense mobile capabilities on any device like a tablet, phone or laptop. Qlik View and Qlik Sense is compatible with platforms like iOS and Android. Thus, Qlik View and Qlik Sense can be used across all the mobile devices in its full capacity, loaded with all the features.

Security, Scalability, and Performance

Security, scalability and performance are the three important pillars of Qlik View and Qlik Sense's efficient functioning. It comes complete with centralized, rules-based security, multiple security layers, authentication security.

 Smart Visualization and Analytics

The Qlik product are very helpful in visualization as they are dynamic and smart. They are preloaded with varied types of charting options like pie, column/bar, line/area, scatter, plot, tree map, gauge, and combination charts.

Qlik Geo Analytics

This feature is a value-added service which can be used both in Qlik Sense and QlikView. The geo-analytics feature includes a geospatial analysis of location-based data by performing advanced geographic calculations on location and non-location data.

User-Driven Creation

There are many features which help the individual users to create their own application without essentially needing a technical hand. With Drag and Drop Feature You can load data files or create sheet objects by easily dragging the source item from the destination window and dropping in on the Qlik View and Qlik Sense application dashboard.

 Customization and Extension

Qlik View and Qlik Sense functionality can be developed, extended and embedded through an open API platform. Custom web applications can be developed, supported by the Qlik Engine. Web technologies like HTML5, JavaScript, and CSS3 are used, also, libraries like D3 and other JavaScript libraries are supported. While developing applications using JavaScript API, you can incorporate pre-build charts through code commands in the script and the associations between charts and other sheet objects occur automatically by the associative model of the Qlik Engine.

Associative Model

The associative model creates a relationship in the data which you can comprehend and use to draw better insights. The associations formed in the data answers a lot of questions regarding the hidden messages and patterns in the data.

 Will QlikView and Qlik Sense merge into one product?

Each product has different capabilities and is appropriate in particular situations.

They are separate products with their development roadmaps. QlikView is great for guided analytics while Qlik Sense is best for self-service visualisations.

Since they have different purposes, one isn’t intended to replace the other.

Because QlikView and Qlik Sense are based on the same core analytics engine, all future engine developments will benefit both product lines, and Qlik will continue investing in both platforms.

Why do people use QlikView and Qlik Sense?

If you haven’t used Qlik products before, here’s why users say they’re great:

They are easy to learn and simple to use

They open up a world of possibilities for making your data work     harder

They help make time-saving and accurate decisions and bring a new     level of insight to your data.

Advantage of using QlikView and Qlik Sense

QlikView Advantage

·      QlikView has a simple, relational data model that is really fast. Filtering and transforming data are dead simple, with results available almost immediately.

·       The free version of QlikView is almost fully featured, so you get a pro-level product rolling out across the department for really cheap.

·       QlikView is really flexible - if you can imagine it, you can build it.

Qlik Sense Advantage

·       Qlik Sense provides one of the most flexible data modelling experiences with load scripts and data manager.

·       Qlik Sense continues to iterate on the user interface and provides new charts and features regularly.

·       Qlik Sense delivers a true enterprise-level administrative experience, especially for security management.

Should I choose QlikView or Qlik Sense? Do I need both?

If you are new to Qlik and starting to use Qlik product then you should use Qlik Sense. Compared with QlikView, Qlik Sense provides users with a full range of capabilities for modern data analytics.

If you already have knowledge of QlikView, you can take it to the next level with Qlik Sense. With Qlik Sense, you can get the most out of self-service visualization, custom development, and embedded analytics.

While QlikView and Qlik Sense share the same engine, a lot of the work required to integrate and transform data from multiple sources can be shared between the two products. Many organizations use both QlikView and Qlik Sense because of their very different features and uses.

Conclusion:

From the above discussion we can conclude that both the tools offering a wide variety of capabilities. QlikView and Qlik Sense both users same Qlik engine which makes a powerful tool. Both the tools let to visualise a data with an ease and explore data. Business users select from this tool as per their requirements and developing potential. Both the tools help to view business insights and help business to make its future better. If your business is also generating huge data and need to view the business insights then you can register with EzInsights Free Trial Demo.

[ezdatamunch]

The Ultimate Guide to Build CFO KPIs Dashboard and Template

To improve your company's financial position, you need to assess every aspect of your business and identify areas that need improvement. There are many factors that determine the overall financial condition of your business. But it is not that easy if you are still using the traditional approach to managing your business data.

Business Intelligence has made your job as easy as ever. It plays a vital role in any business to automate the reporting task and reduce the burden of high-level executives.

The Chief Financial Officer is always seen as the backbone of the company to strengthen the business financial position. The role of the CFO is quite difficult as they not only have to manage the ongoing financial strategy of your organization, but are also expected to provide timely, accurate reports to various stakeholders. Therefore, by having the utmost responsibility of Chief Financial Officers, CFO dashboards can enhance the performance of strategic planning as well as analytical efforts related to every financial aspect of your business.

What Is A CFO Dashboard?

CFO Dashboard is a type of financial dashboard that helps CFOs (Chief Financial Officers) and Financial Officers to organize key financial indicators in one place and communicate the most important financial information to your team in a simple and beautiful manner.

The CFO Dashboard enables faster, more accurate decision making, allowing financial managers to assess, understand, influence and optimize financial and operational performance. It typically consists of ad-hoc, static, and formatted reports and graphs that help locate financial issues and risks on the fly.

What is CFO a Report?

A graphical and visual representation of key financial KPIs in a CFO report that can be shared via dashboards, shared URLs, or embedded in any website or application.

CFO reports can be viewed through the CFO Dashboard which contains all business financial information of past, present and predictive real time business insights.

CFO officers create and implement financial strategies that manage an organization's past, present, and future financial conditions and operations. The CFO oversees financial statements, manages liquidity, analyzes financial reports, and forecasts future cash flows within the organization. The chief financial officer typically reports to the CEO, as well as the board of directors.

Things to Keep in Mind When Creating a CFO Dashboard

Focusing on the below points and the right tools will help in building a successful CFO dashboard:

Understand final financial goals

The initial steps are to understand your business financial goals ultimately it helps you to manage analytical efforts behind the dashboards. Collaboration with financial staff will also help to understand the objectives and you can easily manage dashboards accordingly.

Choose the appropriate key metrics

If your goals and objectives are defined then you should focus on selecting the right

CFO Dashboard KPI

which will give a clear picture of your business in the dashboard and the company will be able to take necessary decisions at a specific time.

Useful advantage of analytical capabilities

Choosing the right BI reporting tool is an important process for any business user. Business users have to collect all the details of the business and select a tool that can fulfill all the requirements of the business. Some basic features that all BI reporting tools should include:

Tools must be flexible to customize the dashboard as per the requirements.

Simple and easy to use UI interface with less numbers of iterations

Dashboards must have a visual appealing element

Dashboards must be mobile supportive

Easy customer care support

Collaborative and In-built Dashboards

Your dashboard should provide comprehensive data and a drill-down facility to the CFO for better estimates. This will help the CFO to better examine the business financial position and know the answers to all business-critical questions.

Useful KPIs for CFO Dashboards

The following are some of the top metrics commonly used as part of a CFO dashboard.

Working Capital

Working capital is the difference between a company's current assets and liabilities and is a measure of a company's liquidity, operational efficiency and its short-term financial health.

Gross Profit Margin

This is one of the most important KPIs in a CFO. These KPIs are measured in percentages. Gross profit margin is calculated as the total sales revenue that your account for all direct costs associated with the production process.

Operating Cash Flow (OCF)

Operating cash flow is a measure of the amount of cash carried by a normal business operation and specifies whether it can generate sufficient positive cash flow to maintain and grow its operations.

Current Ratio

The current ratio, also known as the working capital ratio, measures the ability of a business to meet its short-term obligations that are due within a year. The ratio considers the weighting of total current assets versus total current liabilities.

Quick Ratio

The quick ratio, also known as the acid-test ratio, measures a company's ability to pay all of its outstanding liabilities when they are due only as assets that can be quickly converted into cash.

Net Profit Margin

Net profit margin is a profitability ratio that expresses profit from business operations as a percentage of revenue or net sales.

Current Accounts Receivable

Current accounts receivable measures the amount owed a business by its debtors. The current accounts receivable metric helps to forecast upcoming revenue and plan cash flows more accurately.

Current Accounts Payable

The Current Accounts Receivable and Accounts Payable metric displays the current money owed to your business as well as the amount your business owes creditors.

Cash conversion cycle

The cash conversion cycle (CCC) is an important metric for a business owner to understand. CCC is also called net operating cycle. This cycle tells the average number of days it takes a business owner to purchase inventory, and then convert it to cash.

Budget variance

Budget variance is a periodic measure used by a company to measure the difference between budgeted and actual figures for a particular accounting category.

P/E Ratio

The price to earnings ratio (P/E ratio) is the relationship between a company's stock price and earnings per share (EPS). This is a popular ratio that gives investors a better understanding of a company's value.

Payroll headcount ratio

Payroll Headcount Ratio used to identify and reduce unnecessary labor costs, the payroll headcount ratio gives a clear indication of how many employees are engaged in the payroll process compared to your total number of employees.

CFO Dashboard Examples

So far you now know what is the importance of CFO dashboard and what should be included in your report to make your report financially successful. Now let us discuss some real-life examples of CFO dashboard.

CFO KPI Trend

The EzInsights CFO KPI Dashboard is equipped with an important visual metrics design to help you make informed top-level financial decisions with a quick glance. This powerful CFO KPI dashboard provides in-depth insight into essential financial aspects including cash conversion cycle, working capital and budget variance.

Our executive level dashboard helps C-level who always see dashboards to make quick reference. This will help managers quickly identify areas of the business that need immediate attention, allowing you to remedy the situation before it is too late.

Primary KPIs:

Working Capital

Quick Ratio / Acid Test

Budget Variance

Vendor Payment Error Rate

Cash Conversion Cycle

 Customer Analytics Spending

Our customer analytics dashboards help you understand the customer journey and relationships with organizations. It also helps managers figure out what customers will pay you. Get customer insights and trends in a minute with our real-time customer analysis dashboard.

Primary KPIs:

Customer churn rate

Net Promoter Score

Customer Satisfaction

Average Resolution Time

Customer Acquisition Rate

Conversion rate

Sales Analysis Customer Trend

Our sales analysis dashboard provides detailed analysis of company sales. Our dashboard enables C-level executives and managers to effectively control and monitor sales KPIs in one central location, while guiding teams through detailed analysis of sales performance, cycle length and sales funnels.

Primary KPIs:

Monthly Sales Growth

Average Profit Margin

Monthly Sales Bookings

Sales Opportunities

Sales Target

 CFO Expense Dashboard

Organizations have many types of expenses and they plan not only the budget for revenue and income but also plan the expected expenses for the future. Our CFO Expense Dashboard lets you record monthly target and actual costs and compare to see target achievement percentages.

Primary KPIs:

Current Accounts Receivable and Accounts Payable

Quick Ratio / Acid Test

Accounts Payable Turnover

Benefits of using CFO Reports

Improve Business Agility

A modern CFO report is a robust and reliable tool of financial reporting. CFO Repots will enable CFO Managers to make financial decisions more easily and more effectively. Hence it will improve the overall business agility.  

Avoid Financial Error and Fraud

CFO Dashboard examples and reports will help you easily identify any potential issues or inefficiencies, helping you eliminate them early on before they harm the financial health of the business.

Forecast Cash Flow

BI tools allow users to generate reports for greater business insights. By using business financial reports, the financial officer has gained the analytical ability to combine the different data areas of your business to produce insightful reports. It gives the complete business scenario of a business which helps in forecasting the cash flow.

Facilitate Business Growth

Business managers start their business to make profit from it. In a business, CFO is playing a very important role. All financial activities are dependent on him. CFOs use the CFO dashboard and make healthy decisions for the business. Running a business is complicated. There is a lot at stake, but a CFO helps reduce risk by allowing you to make the most informed financial decisions.

Strategic innovation & decision-making

The CFO always has to make an important financial decision on the spot. Traditionally, CFOs have put a lot of effort into creating a static spreadsheet and fiscal figures. They have to do manual work in every change. Today it is possible because of business intelligence to study relevant information in-depth and view dashboards at a glance. Due to this effective approach, CFOs have reduced their burden and can make safer decisions with ease.

Conclusion

In this article, we have explored all the key points of the CFO Dashboard. Companies are different and focus on different goals and criteria of success. But one thing is common if they are selecting the right KPIs which will definitely help you to take fast and well-established decisions. If you're also interested in modern analytics and looking for a CFO dashboard for your companies, sign up with EzInsights for a free trial demo.

[ezdatamunch]

EzDataMunch - Executive Dashboard

Make Better Predictions, Get Detailed GeoGraphical with EzDataMunch

Get a free lifetime Access sign up Now: https://ezdatamunch.com/ezinsights-nlp-free-trial/

[ezdatamunch]

With EzDataMunch Now anyone can find insights hidden in their company data in seconds. Use search to analyze your data and get automated insights when you need them.

Sign up now for life time free trial :https://ezdatamunch.com/ezinsights-nlp-free-trial/

[ezdatamunch]

EzDataMunch

Customer segmentation is the practice of dividing a customer base into groups of individuals that are similar in specific ways To Know More Visit: https://ezdatamunch.com/ Lifetime free access: https://ezdatamunch.com/ezinsights-nlp-free-trial/

[ezdatamunch]

EzDataMunch

Revenue Analysis Dashboard

To know more: https://lnkd.in/gkwvthq

Lifetime free access: https://lnkd.in/gKx_PjR

[ezdatamunch]

EzDataMunch

Scrap Analysis Dashboard To know more: https://ezdatamunch.com/industry-solutions/manufacturing-analytics/production-analytics/ Lifetime free access: https://ezdatamunch.com/ezinsights-nlp-free-trial/

[ezdatamunch]

What is the difference between Data Science vs Data Analytics?

Data science and data analytics are the trending terms of the year. Everyone knows that business success without data is unknown. Many tons of data are generated daily by the user and importance is given to carrying out the day to day activities of the business. If this data can be analyzed in any way and interpreted what the user wants and can innovate accordingly, we can bring a revolutionary system where businesses can solve problems faced by a common man and at a lower cost. This revolution is data science and includes data analytics, machine learning and more. 

Data Analytics vs. Data Science

Both data analytics and data science work depend on data, the main difference here is what they do with it. Data analysts examine large data sets to identify trends, develop charts, and create visual presentations to help businesses make more strategic decisions. Data scientists, on the other hand, design and build new processes for data modeling and production using prototypes, algorithms, forecasting models, and custom analysis.

What Are Data Analytics?

The term data analytics can be defined as the collection of raw data that can be used to analyze in a proper way to achieve business benefits. Such collection of data and receive information from multiple sources further convert it into a meaningful insight to solve business problems.

What are the skills required to become data analyst?

Data analyst should have the ability to take specific questions or topics, being able to analyze how the data looks, showing how relevant the data is to stakeholders in the company. If you are looking for the role of a data analyst, then you should have these seven core key skills:

Structured Query Language: SQL is the universal industry standard database language and is highly recommended for its data analysts. In almost all companies, the SQL database language is required, whether managing and storing data, relating to a manifold database, or building or changing a database structure.

Knowledge in

Microsoft Excel: When we talk about Microsoft excel, every data analyst should know the basic of Macros and VBA lookups. These are still widely used for smaller lifts and lighter, quick analytics.

Critical Thinking: If you have chosen the profile of a data analyst then you should have the ability to think like an analyst. It is the role of a data analyst to uncover and synthesize connections that are not always so clear.

R or Python Programming: R and Python programming languages can work much faster than Excel. They are powerful statistical programming languages that are used to perform advanced analysis and predictive analysis over large data sets. So, it's up to you in which language you should go R vs Python.

Data Visualization: Data visualization is a technique that is used to gain insight of data in visual representation. Data visualization is the effect of your data that presents high quality charts and graphs to represent the data. Tableau visualization software is an industry specific analytics tool that features sharing and collaboration, live and in-memory data, advance visualization and many more.

Presentation Skills:

Presentation skills are important because presenting information. But this skill does not come naturally to everyone. It will be a habit while practicing.

Machine Learning:

Machine learning is a key component of becoming a data analyst. While not every analyst works with machine learning, it is important to know the tools and concepts to advance in the field.

What Is Data Science?

Data science has a wider scope than a data analyst. Data science is a combination of various tools, algorithms and machine learning principles, in which to search for hidden patterns from raw data. They understand data from a business point of view and can provide accurate predictions and insights that can be used to make important business decisions.

The term data science can also be understood by Venn Diagram which contain math and statistics, subject expertise and hacking skills. These three skills make you perfect data scientist.

What skills are required to become a data scientist?

Many organizations have understood the ability to make data-driven decisions. But to become a data scientist you can have desirable skills:

·       Knowledge in statistics

·       R/Python programming language

·       Understanding machine learning algorithm

·       Big Data Processing Frameworks 

·       Data Wrangling and Data Exploration

·       Data Visualization

·       Deep Learning

What are the responsibilities of Data Analyst and Data Scientist?

Responsibilities of Data Analyst:

·       Writes SQL queries to find answers for complex business questions.

·       Analyze and discover patterns from various data points.

·       Implementing new metrics to find the best business solution.

·       Identify data quality issues and partialities.

·       Map and trace the data from system to system for solving a given business problem.

·       Design and create data reports using various reporting tools.

·       Applying statistical analysis

Responsibilities of Data Scientist:

·       Identify new business questions that can add value.

·       Data storytelling and visualization.

·       Data Cleansing and processing.

·       Develop new machine learning models.

·       Correlate disparate datasets.

Which is right for you?

The difference between data science versus data analytics can actually have a big impact on a company. Data analysts and data scientists have job titles that are deceptively similar given many differences in role responsibilities, educational needs, and career trajectories. Once you consider factors such as your background, personal interests and desired salary, you can decide which career is right for you and move on to the path of success.

[ezdatamunch]

EzDataMunch

Digital Marketing Dashboard

To know more: https://ezdatamunch.com/digital-marketing-analytics/

Lifetime free access: https://ezdatamunch.com/ezinsights-nlp-free-trial/

[ezdatamunch]

EzDataMunch

Aggregate Cost Dashboard To know more: https://ezdatamunch.com/industry-solutions/manufacturing-analytics/production-analytics/ Lifetime free access: https://ezdatamunch.com/ezinsights-nlp-free-trial/

[ezdatamunch]

EzDataMunch

Expense Analysis Dashboard To know more: https://ezdatamunch.com/industry-solutions/financial-services/banking-analytics/cfo-dashboard/ Lifetime free access: https://ezdatamunch.com/ezinsights-nlp-free-trial/

[ezdatamunch]

Inventory Metrics and KPIs Best Practices for Your Warehouse

Inventory metrics are the key element that helps to increase business performance and they can measure it every week, month, quarter, or year.

EzDataMunch

Inventory Metrics and KPIs Best Practices for Your Warehouse

[ezdatamunch]

How Big Data Analytics helps in Crime Prediction and Prevention

Big data analytics helps businesses analyze and examine large amounts of data. Read more on crime prediction big data and ways of detecting crime.

EzDataMunch

How Big Data Analytics helps in Crime Prediction and Prevention

[ezdatamunch]

EzDataMunch

CFO Dashboards To know more: https://ezdatamunch.com/industry-solutions/financial-services/banking-analytics/cfo-dashboard/ Lifetime free access: https://ezdatamunch.com/ezinsights-nlp-free-trial/

[ezdatamunch]

EzDataMunch

Sales Analysis Customer Trends To know more: https://ezdatamunch.com/industry-solutions/financial-services/banking-analytics/cfo-dashboard/ Lifetime free access: https://ezdatamunch.com/ezinsights-nlp-free-trial/

[ezdatamunch]

EzDataMunch

Sales Management & Customer Analysis Dashboard To know more: https://ezdatamunch.com/customer-analytics/ Lifetime free access: https://ezdatamunch.com/ezinsights-nlp-free-trial/

[ezdatamunch]

EzDataMunch

#Insurance Analytics Dashboard - #Premium Analysis To know more: https://ezdatamunch.com/industry-solutions/insurance-analytics/premium-loss-analysis/ Lifetime free access: https://ezdatamunch.com/ezinsights-nlp-free-trial/