Modern analytics should make data accessible to all users so they can make the right decisions at the right time. An integral part of that is solutions that work in the cloud. Cloud-based platforms enable predictive, real-time decisions – the holy grail for any business. And when you add powerful functionality that is easy to use, businesses can really get the best from their data.
The benefits of advanced analytics
While BI allows your business to see what has happened and respond to situations reactively, advanced analytics gives you the power to use data proactively. You can plan, forecast and predict what is likely to happen for more accurate decisions that will support business growth.
Advanced analytics can help businesses create a competitive edge in developing innovative products and services, predicting supply and demand or improving the customer experience.
A study by Forbes and Cisco affirms that 58% of data-driven organisations that implement predictive analytics “see a correlation between analytics initiatives and a ‘significant improvement’ in their competitive positions”!
Forecasting in the cloud
Predicting what will happen tomorrow is a powerful tool. But fast analytics needs the right architecture.
To date, the adoption of advanced analytics in the cloud has not been mainstream for many businesses. Why? Well, McKinsey states that one of the biggest hurdles has been the set-up of database technologies and the complexity in set-up, interface and visualisation.
Luckily, that’s where Qlik + Vizlib lead the way. Users can access all the benefits of modern cloud analytics with Qlik Cloud + Vizlib!
Greater usability with Vizlib
Vizlib’s advanced analytics capabilities are available on Qlik Cloud (including Qlik Sense Business and Enterprise SaaS) or on-premise, and work exactly the same. You get the same simplicity and user-friendly Vizlib features in the cloud as on-premise.
Easy-to-use drag and drop functionality enables everyone to forecast data And with the latest Vizlib Line Chart update, forecasting is even more accessible to non-technical users. With an update in the forecasting algorithm (from Holt-Winters to ARIMA and SARIMA models), you get more forecasting control – down to a measure level – to cover more use cases.
Users can also plan and predict more accurately with Vizlib’s other Advanced Analytics capabilities.
Linear Progression Forecasting helps leaders predict future business opportunities objectively. Scenario Analysis helps in the evaluation of multiple future scenarios to analyse potential risks, and manage and plan for any unexpected change. You can also easily spot patterns in your data with Vizlib Scatter Chart’s Clustering capability.
👉 If you want to learn more about transitioning smoothly to the cloud with Qlik + Vizlib, watch our on-demand webinar on Vizlib in the Cloud.