What role does Quantrix and B.I. Play in Decision Making?
Quantrix greatest benefit is the ability to assist any business decision making, this does just not happen by accident. There are three important components that every business needs to intersect in a good decision-making model. The first is business intelligence, which is useful analytics of internal enterprise data. The second is external market data, including competitive and economic information. The final is domain knowledge, which includes information your in-house experts have about your business and your future plans. Quantrix and Business Intelligence is about putting these components together for the benefit of your business. Business intelligence is important, but it needs to be combined with the other two elements for successful business modeling. Quantrix not only brings these three elements together but also allows you to create visualizations and dashboards built around your date.
Quantrix differentiates in that you can then create forward-focused models from that historic analysis. The structure of your Business Intelligence analytics often matches the structure of your decision-making process. For example, in a structured model, you will connect your internal data on products, business groups, and sales with the external business drivers and business knowledge into an analytic process. A structured modeling environment such as Quantrix enables companies to feed their historical business intelligence directly into an intelligent decision making model that enables them to factor in information such as what new products you plan to introduce, and external market factors. Information on sales history during the past 10 years is important, but is not enough to develop a sales forecast for next year. So business intelligence is an important piece, but ultimately it is only once piece of the puzzle and Quantrix is able to provide the other missing pieces.
Quantrix provides a dynamic connection to enterprise data. Time is wasted when business professionals need to re-query the enterprise database and re-populate a model every time they need updated information. For most BI tools, the analysis is the "end of the road". They are not adding value or additional context to the data. You can get very good insights, view trends and exceptions, but then you still would likely create your budget, plan, “what ifs” and other models in spreadsheets. As we know from the economic crisis, historic patterns don't always predict future activity. To quote Warren Buffet, "If past history was all there was to the game, the richest people would be librarians." So are you looking forward, clients that use Quantrix are.
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