Getting More Business Value from Data and Analytics
Analytical applications that extract value from data have become a vital part of every successful business. But understanding and managing the real use of that data to generate optimal business value remains a big challenge for most organizations.
It’s about more than understanding the underlying data in the database and how it gets accessed and how it’s performing. At the business intelligence and analytical application layer, organizations need to understand what questions are actually being asked by business users and if the queries are effectively driving good business decisions.
Better Serving the Business
Teleran has built solutions help business derive quantifiable value from their data and analytics—and simplify and reduce the cost of managing those systems. Teleran’s solutions track, analyze, and make visible what business users are doing, actually providing real-time guidance on how to improve the user’s productivity and how to adjust the underlying resources to better serve the business as those needs change. Using automated AI-based query controls, Teleran’s solution prevents users from making some of the common errors that reduce productivity and increase IT costs.
Enabling a Brokerage Firm to Grow Their Revenue by 5%
Improving data and analytics usage can directly add to the bottom line. Teleran often works with business users and the analytics staff to correlate business Key Performance Indicators (KPIs) with analytics and data usage KPIs. In the case of a brokerage firm with over 15,000 brokers and 2 million retail accounts, the business wanted to look at the top 10% of its brokers to understand how they actually used their data and analytical applications and if that usage could be understood and correlated to more business. For the brokerage, the primary KPI was money under management (MUM).
Broker Performance Analysis – Correlating Data and Analytics Usage and MUM
With Teleran’s Data and Analytics Visibility and Optimization solution the firm was able to evaluate the usage patterns of the top brokers and correlated that to the data accessed and analytics used. With the statistics gathered, the company was able to identify the data and analytics the top brokers used to drive more business. Then the company was able to train all its brokers to leverage that best practice. Within 12 months, the client increased MUM by 5%.
In my next blog I will discuss additional cases how companies increased margins and grew revenue using Teleran’s solutions.
Chris is VP Marketing and a co-founder of Teleran. He has over 30 years’ experience in helping companies manage, leverage and protect their business-critical information.