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Predictive Analytics vs Descriptive Analytics vs Prescriptive Analytics

Here’s a three-minute guide to understanding and choosing the right descriptive, predictive, and prescriptive analytics for use across your business chain.

With enormous data available to businesses concerning the supply chain, companies are now adopting analytics solutions to extract meaningful and insightful volumes of data to help enhance decision-making.

Deeming all the analytics solutions can be a challenging task. Fortunately, these analytics alternatives are categorised extensively into three different types. None of them is better than another they co-exist and complement each other. For businesses to have a holistic view of the market and how a firm competes effectively within the market need a dynamic analytic environment which encompasses the:

Predictive Analytics: Predicting & Understanding the Future

Predictive analytics follows its roots to “predict” what might occur. These analytics are all about understanding the future. Predictive analytics is useful in providing firms with actionable insights based on real-time data. It also offers estimates concerning the likelihood of a future outcome. Note: no statistical algorithm can “predict” the future with 100 percent assurance. Businesses use these stats to forecast what might occur in the future. Because predictive analytics is based on probabilities. Predictive analytics combines historical data discovered in ERP, CRM, HR, and POS systems to identify data patterns and apply statistical models and algorithms to seize the relationship between multiple data sets. It can be used by companies to forecast customer behaviour and buying patterns to identify emerging trends in sales activities.

Descriptive Analytics: An Insight into the Past

Descriptive analytics does precisely what its name implies: they “describe,” or summarize, raw data and create it into something interpretable by humans. They’re merely the analytics that demonstrates the past. Descriptive analytics is helpful as they enable us to learn from past behaviours, and understand how they can influence future outcomes. This underlying data is a count or aggregate of a filtered data column to which typical math is applied. Leverage descriptive analytics to understand at an aggregate level what is happening in your firm, and when you are willing to summarize and describe multiple business facets.

Prescriptive Analytics: Aforethought on Possible Outcomes

This relatively novel stream of prescriptive analytics enables users to “prescribe” different possible actions and instruct them towards a solution. In short, these analytics are all about advice and suggestions. This analytics attempt to quantify the impact of future decisions to suggest possible outcomes before the decisions are made. At its best, prescriptive analytics not only predicts what will happen but also suggest why it will happen, offering suggestions concerning actions that will benefit from predictions. If implemented appropriately, they can greatly impact business decision-making as well as the company’s bottom line. Biggies in the market have already adopted prescriptive analytics to optimize production, scheduling, and inventory to ensure they’re providing the right products at the right time as well as optimizing the customer experience.

Still, in business, the most compelling areas sakes, marketing, operation, and finance departments are pedestals on descriptive and predictive analytics. Reach out to Smartinfologiks to optimize your business with the analytics solution, today!

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Business Cohesion- Technology Reflux to COVID-19

Covid-19 has a significant impact on humankind and businesses and is likely to evolve in the coming months. A lot needs to be clarified regarding how this crisis could uncover, but technology is well-equipped to help businesses encounter challenges. Our business process software automation is proficient enough to empower businesses to be more productive even during the event of work-from-home culture.

- Business Persistency

Even in these challenging times, our staff is well-positioned and active 24*7 to help our clients globally to run their business operations swiftly. We are striving hard to ensure that the companies stay operational and productive yet maintain social distancing. Undoubtedly, industries are impacted exponentially by the ongoing pandemic but on the brighter side, a lot is awaiting the adoption of technology to combat Covid-19. Our dedicated team is putting in day in and day out to help SMEs to keep up the pace on a productive and operational front. Our business continuity services for small and mid-sized businesses provide end-to-end digital solutions including cloud, infrastructure, employees, business, communication, and operations assuring operational continuity.

Let’s dive deeper for an in-depth analysis

- Cloud Infrastructure

An employee requires complete access to critical business applications outside of the traditional boundaries of your network while operating from home. This eventually leads to a need for a more complex new cloud environment demanding fast and reliable networks. We make certain that businesses don’t miss a rhythm by delivering a reliable cloud environment operating together with recognized cloud providers such as AWS, Azure, etc., thereby allowing employees to be proactive and productive.

- Staff Productiveness

Work-from-home can be productive undoubtedly, but it can also go astray without an apt working environment, a systematic schedule, and on-site supervision, these all are major distractors. With appropriate and effective business management and productivity tools, we authorize your staff to be more productive at the same time staying safe. AI/ML-powered performance evaluation tools help managers analyze staff performance while still maintaining peace of mind.

Cloud Accounting

Accounting can be daunting with limited resources when businesses look for frontiers. Traditional working style doesn’t fit the cup. Modern-day cloud-accounting help businesses say afloat with robust reports availed to the shareholders without any delay. Coact with bookkeepers and accountants, purchase, and sales through a single unified platform. During this event, intelligent ledgers and hundreds of readily available can help drive real-time profit decisions.

Synergic Work Environment

Empowering teams with collaboration software brings people and resources together, streamlining the situational and conditional prerequisites.

Desperate timing requires challenging decisions, it’s time to leverage digital expertise. Covid-19 did wreck the industrial backbone. Contrary to this, you can benefit from digitally enabling your business and staff to emerge using the best technology.

Employ the right technology at the right instance at the right place!

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App Development Platforms - React Native vs Ionic vs Flutter

The Distinction Between Mobile Apps & High-Performing Mobile Applications

A number of applications dominate the market to transit tasks in a dynamic experience. These power-packed mobile applications have altered people's thinking patterns and accomplish routine activities.

Internet penetration is proficient enough to influence users in creating a digitally-enhanced standard of comfort. Geared-up apps are the need of the hour to satisfy your business prerequisites.

UX, speed, and performance are essential facets of any pepped-up mobile application.

For better know-how of one of the leading mobile app platforms specific to your business requirements, let’s aptly compare React, Ionic, and Flutter.

React Native

Supported by Facebook, React Native is used as a mobile app development tool to build cross-platform apps on iOS, Android, and UWP platforms. Came into existence in 2015, react native is a heartening technology for cross-platform app development. React native operates on basic principles- you need to code in JavaScript interacting with native elements of a specific operating system.

Pros of React Native

Performance: Applications designed using React Native are excellent as compared to Ionic.

Code Reusability: A vital fruit considering React Native. Nearly 95% of the code reuse rate accelerates the development process thereby eliminating overheads.

UI- React Native’s user interface parallels with native products using platform-specific UI building blocks. Thus, you can acquire an improvised user experience regardless of the platform or device.

Live Reload: This feature allows users to see and operate with real-time modifications. You can modify the codes at the same time load the application when necessary. Additionally, it allows you to reload a specific section that needs a change to save compilation time.

Affordability: The code reusability nature, helps you save react native’s app development costs by about 40%. No need for two Dev teams to build the application.

Third-party Plugins: Recreating an app would cost you a fortune. Thus, react native offers third-party plugin alternatives including JavaScript and native modules. These plugins serve a hassle-free web view functioning, thus, enhancing the app’s functionality and performance.

Extensive Community Support: Being responsive to the need of developers, react native has a community approach of nearly 50,000 contributors. Supported by Facebook, react native is can be frequently developed and updated.

Ionic

Came into existence in 2013, Ionic is an open-source SDK cross-platform app development. Owing to its credibility and access to different technologies such as HTML, CSS, and SaaS, designing cross-platform mobile apps is seamless with Ionic.

Pros:

It consumes a minimal time frame when operating with native languages. With potential native UI components and other respective features like interactive paradigms, mobile elements, and typography; the development cycle is comparatively shorter.

Engineers can hassle-freely grasp the framework and technologies under an Ionic umbrella.

Embrace swift prototyping with Ionic, thanks to the preset templates.

Flutter

Flutter is built using Dart as its programming language. Applications designed using flutter do not possess UI components but instead include building blocks known as Widgets. They’re either stateless or stateful, additionally, there’s no association between the view and the codebase as compared to React Native. UI components in flutter require rendering on the Skia graphics engine.

Pros:

Do not possess a viaduct considering view and code augments the app’s responsiveness.

Widgets are rendered when resembling a declarative approach such as React.

Stateful Hot reloading leads to instant updates of changes. You don’t need to restart or rebuild the entire widget tree.

Both AOT & JIT compilations are Dart supportive of enhancing app startup time and performance.

Comparison Between React Native, Ionic, and Flutter

Elements

A hybrid development framework, Ionic utilizes PhoneGap or Cordova to reproduce native components. However, react native’s code reusability nature act under the native platform. You can leverage a constant look and feel. This formation delivers the speed and functionality of a native app.

Contrary to this, Flutter utilizes widgets as building blocks and does not possess native controls and elements. These widgets encompass UI controls like text, media, buttons, components, etc. All these can be executed in the graphics engine.

Rendering

React native functioning is mesmerizing when writing applications in JavaScript is considered. React’s rendering feature resonates well with native elements when coded in languages such as HTML and CSS. Real-time rendering without recompilation or rebuilding requirements with immediate outcomes. Thanks to the Live Reload feature!

While Ionic allows immediate feedback, cheers to the instant app previews on mobile devices. Instant refreshes are at your fingertips!

Coded in C++ Skia graphics, flutter renders widgets directly in the engine devoid of OEM widgets, leading to a robust and smooth UI experience. A feature that’s impossible with other cross-platform solutions. Besides; widgets rendering is conducted declaratively when the state changes.

Platform Accessibility

Ionic adapts features to build cross-platform app development a mesmerizing experience. Thereby, you can write an application at a time and run it anywhere with minimal changes.

However, react native operates on platform-specific logic and frameworks. Thus, it can adapt features from one platform to another.

Flutter's widgets exercise material design concepts. Considering iOS design, developers can utilize Cupertino widgets. These building blocks allow engineers to increase the chain and render the UI on respective mobile platforms.

Language Structure

Pedestal on Dart, flutter is built using a young programming language. Dart acts according to a binary code. Thus, you can acquire native performance.

Designed using JavaScript framework, Ionic is created using Angular. Which utilizes HTML templates for its view. Logic and views segregate when building apps with Ionic. This drives cross-platform app development seamless with Ionic as a framework.

React native utilizes JavaScript code that reflects HTML, but in reality, it isn’t.

Device Testing

Ionic is known for delivering immediate previews on smartphones and browsers. Besides, any changes cause instant refreshes.

React showcases alteration results as you make them. It also offers debugging tools to save time when fixing bugs and issues with an app.

With a built-in support feature, flutter enables both logic and widget testing.

Community

An open-source framework enables you to testify to how healthy and supportive is the community surrounding the technology.

Notably; react native & Ionic emerged from an established ecosystem- angular and react. Thus, they’re supportive of online frameworks. While flutter is still gaining popularity and its community size is acquiring momentum.

Popularity

When popularity is considered, every framework distinguishes in metrics when compared.

React native is more established than the other two as many tech stacks depend upon it involving Instagram, Facebook, Pinterest, Tesla, etc.

Ionic scores are good among mobile and web app developers. Cheers to the effortless learning curve. It’s the choice of MarketWatch, Pacifica, Nationwide, etc.

A new entry, flutter is still emerging and becoming popular. It’s the right choice of Alibaba, Hamilton Musical, Greentea, etc.

These frameworks are recognized in the specific niche and are lauded as the FUTURE!

Which Framework Delivers a Competitive Edge?

The platform you determine for mobile app development relies on personal and team preferences. The result should be, you should have a flying business.

Time and budget constraints are driving forces when companies prefer hybrid application development platforms. While they might prove wrong for the time spent on fixing defects and issues. The frequency of such bugs is least in apps developed using react native.

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Spreadsheets Won’t Be a Prerequisite for Business Data

Spreadsheets are a savior when you want to track data, graph simplified trends, or build essential tools. However, they’re not measurable.

The most challenging aspect of maintaining spreadsheets is when your stakeholders expect you to deliver monthly reports. And when you scroll down the sidebars of Google Analytics and other miscellaneous marketing channels, copy-pasting all those parameters into a manual spreadsheet is like banging your head to the wall. After scrutinizing all the necessary information, you land up with the task of formatting data.

Hell Ya!

Spreadsheets play an essential role in statistical analysis and though they’re excellent sources, they’re helpful only to a certain limit. Spreadsheets cannot perform beyond their abilities. They are risky at times.

For a superficial view of your data, a spreadsheet would be sufficient. But when you’re willing to find certain noteworthy information about your data or in case you want to perform a detailed analysis, a spreadsheet will not serve your purpose.

This piece of writing will highlight a few vital aspects when a spreadsheet is not meant for your business.

1. Data Volume and Proportions

You might be aware of excel’s 65,000-row limit before excel 2002 and it facilitates more than a million rows at present. While it’s something very aged-old and doesn’t resonate with the present scenario.

Studies suggest, excel's size limitation resulted in untold stats of nearly 16,000 cases of COVID-19 in 2020 in England. It’s a real demonstration of how excel can produce unproportionate and unhealthy data impacting people’s health. Spreadsheets for data management and databases can seem worse for your business.

NOTE: Spreadsheets are a set of limitations and those limitations are not always apparent.

2. Formula Accreditations

Excel spreadsheets are known for their reference cells in robust and static forms. If you never inserted a row or a column in excel, and your SEM or AVG formula failed to refer the data properly owing to the absence of a new column or shifting down or right the complete reference, then you lack the ability to use the spreadsheet.

However, it’s the initial stage of errors. And avoiding the initial stages may lead to losing hours, maybe even working days.

3. Data Quality Concerns

Spreadsheets are very often used by individuals or professionals for data entry and workflow components. Spreadsheets being supported by data validation tools, spotting users within the time, figures, and other primeval data types form the only basis. Spreadsheets are often not proficient enough to use spreadsheets optimistically and the end result is names, addresses, phone numbers, and other respective information in varying formats.

Smartinfologiks - a data analytics company in India claims, that scaling inputs in spreadsheets is challenging. Spreadsheets are excellent when you desire to track data, graph trends, or create basic tools. But, they’re not scalable. When you consider input validation, user access control, or customization, you’re stuck BUDDY!

4. Spreadsheets are Erroneous

Spreadsheets are meant for manual processes, thus, errors are possible with copied and pasted cells, formula inaccuracies, surplus rows, columns, etc. These all may contribute to misleading and error-prone results.

One of the top analytics companies in India, the team at Smartinfologiks believes that manual processes encompassing pedestrian spreadsheets are responsible for pricey errors, unhitched data silos, and reduced productivity in departments.

5. Spreadsheets are Time-Consuming and Risk-Prone

Generating spreadsheets is time-consuming, in addition to defects and potential issues, and is often difficult to maintain. Miss. Kyshana (Mita) Prava, CEO, and co-founder of Smartinfologiks claims, “maintaining spreadsheets is a daunting and time-consuming process opening gateways to errors and perils. Spreadsheets not only lead to human errors but also pave the way to abundant time consumption which can be otherwise used for other tasks.

6. Spreadsheets Can Impact Comprehensiveness & Lead to Data Silos

Email spreadsheet documents are still a religious practice irrespective of the fact that employees can share access on OneDrive or Google Drive. A lot of people communicating on a single spreadsheet can be challenging as well as tricky.

Spreadsheet collaboration also causes data silos. When data analysts link to data sources, download the data, or create formulas, pivots, data operations, etc., they build a remote data source. The problem takes place when other analysts access the same data and create a duplicate data source.

In worst cases, when employees share the spreadsheets with customer and stakeholders who doesn’t have access to the corporate network.

Leverage Cloud-Based Tool with Smartinfologiks

Being supported by a cloud-based business intelligence tool eliminates the hassle of combining CVs, software crashing, or merely waiting for data analysts to answer your questions- additionally, you don’t need to be aware of SQL to access your data walls.

Innovative Ways Smartinfologiks Drives Seamless Business Intelligence & Data Analytics

Data Governance

We make certain that your data is secure and managed from a single point of contact. The data can be accessed safely and users are assigned necessary roles and permissions.

Data Exploration & Speed

Explore real-time data regularly without any obstacles with a team of tech stack. Analyze billions of data rows quickly and seamlessly.

Association & Ad Hoc

Analyze data between groups and departments without worrying about version control. Our spreadsheet interface creates incessant ad hoc possible and accessible to everyone.

Precise Data Extraction

After data extraction from a BI tool to a spreadsheet, the team loses visibility into how employees use and share the data.

Being one of the leading business analytics companies in India, we allow data explorations and data-driven analysis quick and measurable. Business owners can seamlessly answer varying ad hoc questions within the least time expected.

Foster self-service ad hoc analysis, visualizations, and BI dashboards with Smartinfologiks Now!

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