Business Analytics consulting

Nature of Business Intelligenc

Imagine the benefits of having a team of business analytics consultants and certified data experts partner with you to set goals, help answer your business questions, proactively identify red flags, inform executive decisions, challenge you, and give you a roadmap to success using our processes (such as our analytics maturity benchmarking software and Measurement For Success framework).


In the past, you may have used data in your organization following these steps: gather data, decide what it means, figure out how to apply it. The evolution of business analytics has led us to a more sophisticated process.

Now ask, what problems am I trying to solve? What critical decisions do I need to make? Then identify what insight is required to formulate those decisions, decide what kind of information would produce that insight, and, ultimately, which data sources would provide that information.

A successful analysis program will produce up-to-date, accurate information not only on past and present performance, but will help you see the future (through?predictive analytics).

EVOLVE Through Data Comprehension

No matter how complex or big your data is, we can support and guide you through every step, even the uncomfortable resistance to change that often goes along with growth.

You are likely looking at more data than you can handle, and we can help you separate the wheat from the chaff — to gain competitive advantage — by providing you the right knowledge, at the right time, so you can make the right decisions.

Understand your customers
Identify opportunities and threats
Respond to business needs
Innovate faster with relevant data
Gain competitive advantage

Experience combined with the insights derived from the data enables you to evolve your business and create a blueprint for building your company well into the future. So. What’s your mission?

SIOT Approach

Over the years, we’ve constantly been?evolving?from what we know, iterating from challenge to challenge to continuously improve our results. Our focus is to help you and your organization do the same, by using data to make better decisions, prioritize, take action and achieve sustainable results.

Speed.?Structured, fast delivery of knowledge from your data. Constant evolution is the priority.
Flexibility.?Change is inevitable, it is constant. Through the understanding of your needs we will adapt solutions to optimize your results.
Ingenuity.?As creative problem solvers, we apply our collective know-how to help you evolve and innovate with data.        

Business analytics has unleashed a whole new world to us and raised decision making to a radically different stratum. Today informed decision is being made by slicing, dicing and scrutinizing the data. But will this analysis have any value if we totally ignore the business aspect of the problem at hand? No. Analytics consulting is a functional role that balances business and hardcore analytics with an aim to deliver value-added analytical solutions

These days most analytics companies cater to clients across different business domains such as Telecom, Financial services, Retail, Pharmaceuticals, Consumer Goods etc., hence the need to thoroughly understand and address the business needs is more pronounced.

Difference between an Analytics Consultant and an Analytics Practitioner

Analytics is a vast field and just like any other organizational?set up it has a hierarchical structure. An Analytics consultant is a level above the Analytics practitioner, who (consultant) apart from having the necessary technical knowledge, needs to possess a high level of consulting skills, which?means Problem-solving, Communication, and Presentation.?While the technical skills can be learned academically, the other soft skills come with experience and practice.

Responsibilities of an Analytics Consultant

Understanding the need of the client, developing innovative solutions, orchestrating the entire life cycle of the project and presenting the solution to the end-user.
Tapping the organization’s existing knowledge base and capabilities to identify the best solution to the client’s need according to their timelines, budget and constraints.
Recognizing new business opportunities for the organization to secure new projects from new or existing clients

What are the skills possessed by an Analytics Consultant?

Exceptional problem solving skills is a pre-requisite for Analytics Consulting. So let us see how do analytics consultants approach a problem?

Problem framing

? ? ? ? ? ? ? ? ? ? ? ? ? ? ?Source:?HP’s Strategic Planning and Modelling team

Before solving any problem one needs to frame the problem. Framing the problem means answering the question “What is the problem that I am trying to solve here”? HP’s Strategic Planning and Modeling team has also explained a three-dimensional approach while solving a problem. Firstly, addressing the higher issues which are the root-cause of the problem, addressing parallel issue, which also needs attention side by side, and lastly addressing the lower issues which could be a deterrent while solving the problem.

Problem structuring

Each of the business problems that a client faces is complex as well as ambiguous in nature. By taking the problem structuring approach, the consultant breaks down the issue into smaller questions and finds answers by targeting the issue with precision. The model followed by HP’s Strategic Planning and Modeling team involves developing an initial hypothesis of the problem and addressing the sub-issues through data and analysis.

Project management, facilitation and collaboration skills

While leading a project, an Analytics consultant needs to be unbiased. He has to allocate tasks in a team according to each analyst’s area of specialization. He needs to communicate the problem in details to the team members, brainstorm the solutions, motivate and instill?a sense of ownership in the team members to perform the tasks. This also calls for good co-ordination skills and multitasking?because in large analytics firms a consultant could be managing more than one project at a time across different verticals.

?Good presentation skills

An Analytics Consulting professional has a client-facing role. After completion and testing of the project, he needs to make a structured report. The recommendations need to be presented in a manner so that the management or client can easily understand and be convinced. A good presentation report is one where each conclusion is backed by deep insights. No matter how complex the problem had been, the solution needs to look very simple and logical.

What does it take to get into Analytics Consulting?

A bachelor’s degree in mathematics and statistics
Proficiency in data analysis tools such as Big Data – Hadoop, Hive, Data Visualisation – Tableau, Qlik as well as Traditional Business Intelligence – SAP Business Objects, IBM Cognos and Oracle Business Intelligence
Concrete knowledge of Predictive and Descriptive Analytics
Around 6-8 years of experience in the analytics reporting with domain specialization
An industry certification in business analytics/ data science from a reputed institute
Strong interpersonal skills to understand the client needs and communicate the designed solution

Conclusion

Analytics consulting is one of the most coveted and financially rewarding profiles today. They are in huge demand by global giants like Accenture, HP, BNY Mellon, Dell etc. Sound domain knowledge, rich experience and exceptional communication skills paves the way for it.

So, what are you waiting for? Start your journey into?Business Analytics?and?Data Science?right now!.