This week, we were able to use our AI Analysis tool, Ipiphany, to measure the impact of COVID-19 on the New Zealand events industry and gather valuable insights that the Government is using to assess additional income support.
Implementing Agile Business Intelligence with AI
The Ipiphany system is comprised of two parts - each dependant on the other and equally important to business success. First, of course - the software itself. The AI Analyst: capable of processing thousands of rows of data per second producing actionable insights, and providing relevant and specific reports for relevant stakeholders in your organisation.
For a moment, let’s imagine Ipiphany as a human analyst within your organisation. When your analyst comes up with an insight, what do they do with it? Where is it sent, and how do you use it? Getting these insights from your data is only the first step in the process. It’s only when combined with the Ipiphany agile improvement process that you’ll start to see radical breakthroughs in business performance.
Let’s take a look at how the Ipiphany Agile Business Intelligence (BI) system compares to an unstructured approach:
The Ipiphany Agile BI system is specific and actionable:
The AI Analyst provides insights at a granular level which your organisation can use to implement concrete changes and improve business performance. Let’s say you have an excel spreadsheet with 10,000 rows of unstructured text responses to an NPS survey. Within Excel, you find out with a few quick clicks that your NPS is very low, and with a few more clicks, that many of the low scored comments contain the phrase “Customer Service”. It would be fair to conclude at this point that there’s something wrong with customer service. That’s an insight - absolutely - but it’s not actionable and too high level to be useful. What do you do with “there’s something wrong with customer service”? How do you fix ‘something’?
Using Ipiphany, the same data, and a few more quick clicks - your insight might look a bit more like this:
This is a specific and actionable insight. You have enough information about a problem that many customers are experiencing to implement a solution, and you know exactly the effect it will have on your business (in this case, measured by NPS).
The Ipiphany Agile BI System is frequent:
Imagine you’d asked a human analyst to categorise that same set of 10,000 rows of data. How long do you think that would take? Would your analyst be able to keep up if you were analysing 10,000 fresh rows of data each month? Each week? Ipiphany can analyse well and above that amount of data in less than 10 minutes. This allows you to produce reports as frequently as required, draw relevant insights from the data as requested by stakeholders, and keep a close eye on trends as they’re occurring rather than identifying the cause of a revenue drop months down the line. Ipiphany isn’t a replacement for your analyst, rather it’s an incredibly powerful tool your analyst can use to gain more valuable insights from larger data volumes.
The Ipiphany Agile BI System is cost and time-efficient:
Time is money, they say; The Ipiphany Agile BI System can save your organisation both. By increasing the frequency of data analysis, you open the doors to more robust practices which will ultimately lead to improvements in business performance. Ipiphany can process raw data in minutes, rather than days, giving you the opportunity to gather more insights, track more trends, and stay on top of customer analytics in a way that was never before possible. It gives you the power to invest in larger opportunities, and the insights necessary to make data-driven decisions. The key here is in the agile improvement process. We work with your organisation to tailor Ipiphany’s strengths to your needs, and to implement business processes that will help you take advantage of the powerful insights Ipiphany has to offer.
What Does Agile Business Intelligence Mean for my Business?
The agile approach to business is, at its core, about being able to make decisions and execute strategies quickly, efficiently, and in a way that both includes and benefits the entire organisation. It requires constant assessment of data that is up to date and relevant and demands a high level of communication between all areas of a business. With the Ipiphany agile improvement process, you’ll be able to shift your organisational focus towards a more data-driven, agile approach and reap the rewards almost immediately. It’s about more than just the software; it’s about what you do with it that will truly drive success.
Contact our team to schedule a demo with your data, and find out how the Ipiphany Agile BI System can work for your business