Big Data Analytics by Innovation Strategies

With digital transformation and big data, the availability of transmission of large volumes of data has generated a new level of complexity for operational decision-making. Such is this difficulty in the face of the avalanche of information we handle on a daily basis that we are losing sight of relevant data, of vital importance for the success of our businesses.

At Innovation Strategies we believe that today's data analytics faces four main problems.

1. Companies have large volumes of information, but the ability to analyse it and extract the most relevant information is not growing at the same rate.

2. Complicated business models, with multiple points of focus.

3. Complexity in data-driven decision making, where evidence comes later than intuition.

4. Low maturity of analytics systems and high complexity in their implementation.

With these premises we believe that relevant data mining should answer the following questions:

- What do I need to know today? In order to change the role of financier or financial analyst to that of data anomaly controller, focusing efforts on analysing the most valuable information at that moment.

- Why are things not going as expected? Root cause analysis and automated test generation create the basis for a data-driven business operation.

- How can I access my data in the simplest way? Thanks to transparent access to data via push notifications, chatbots and conversational interface with smart speakers (Alexa, Siri, ...).

- Why is it happening like this? I want more details. All metrics are calculated on the raw data. We can use these calculations to create narratives that clearly state the values of the metrics and also the underlying data through natural language generation.

To get the most out of data analytics, Innovation Strategies, as technology experts, relies on three self-service modules that allow your information to be personalised and accessible.

- Self-service web application to customise subscription notifications using the information catalogue, unit filtering, thresholds...

- Self-service

- DUX Personalisation

- Understanding user focus and key insights


- Modelling in Azure Analysis Services the outlook catalogue, trends and security model used by the notification service

- Insights

- Useful and specific information

Notification service that triggers and sends personalised push notifications based on subscription settings and voice-controlled access via various voice assistants (Siri, Alexa...).

- Engage

- Uninterrupted access to data

- New data and insights are notified in real-time

The value of this digital product created by Innovation Strategies lies in its usability by the different audiences that make up your business, providing them with tangible value.

Operational efficiency

    Access to low friction data.

    Deliver ubiquitous data to the organisation.

    Define consistent metrics.

    Time savings by focusing daily tasks around anomalies, deviations and drivers of change.

    Potentially applicable to various finance functions (cash, accounting, FP&A, treasury, audit, risk management, ...).

 

Unique truth of data

    Enriches the model on RAW data, avoiding inconsistencies.

    Rules-based analysis creating consistent and auditable reporting.

    Create a consistent language across all financial functions.

    Customisation to your own financial language or jargon.

    Integrity with your corporate finance narratives.