Digital transformation enables the retrieval, analysis, and display of complete and accurate data. This results in insights to improve business operations, reduce risk, and enhance decision-making. Typically, analyses to help develop competitive advantages are conducted using either of these four methods:
- Descriptive - real-time streaming and reporting on data as it arrives in dashboards/scorecards.
- Diagnostic - root-cause analyses to determine the reasons why certain events are happening.
- Predictive - forecasts for what could happen next based on previous patterns and trends.
- Prescriptive - actions determined from simulations most likely to maximize business outcomes.
SMI Consulting Technologies' helps enterprises use data visualization, storytelling, and algorithms to transform data into new, actionable insights. These new ideas improve business models, customer experience, products, and services. Popular areas of focus are factory, inventory, spend, and audit analytics.