About Us

IT Services

Electronic Security

Knowledge Center

News & Events



Contact Us

Prosper IT
  • Register

Prosper Solutions Blog

There Are Answers In Your Company’s Data

There Are Answers In Your Company’s Data

When you’re making important decisions for your business, you need solid data to back them up. Through the use of business analytics, you can take advantage of your quantifiable data to find the right decisions for your business. We’ll discuss the process of using business analytics and how it can be used to your business’ advantage.

What Are Business Analytics?
To get started understanding business analytics, let’s use a hypothetical scenario. Let’s say you have a spinner with five sections numbered 1-5. Whenever you spin the spinner, it has an equal chance of landing on each section. If you spin it 100 times, you will encounter varied results, but let’s say that the results are like this: 1) 13 times, 2) 22 times, 3) 18 times, 4) 18 times, and 5) 29 times.

Predicting the results of another spin might seem random, but looking at the trends, we can make an educated guess. We could say that the spinner will land on an odd number relatively safely. The odds are in favor of this (3 out of 5 compared to 2 out of 5), but the historical data also correlates with this. Out of the 100 spins made, the outcome was odd 60 times.

The ultimate goal of this is to make decisions based on pre-existing results and statistical likelihood. In the above scenario, we’re using information to figure out which section (or sections) is most likely to be landed on, and the result is that an odd number is most likely.

Business Analytics in Action
Analytics are admittedly more complicated than this, but the basic idea still applies. You collect data, find patterns, and make the best decisions you can based on those patterns. A business can use this process in a variety of different ways:

  • Data Mining: Data mining can be used to identify trends and opportunities that may have been overlooked, and it’s all thanks to the incorporation of business analytics.
  • A/B Testing: A/B testing can help your business make better decisions, but it can also help remedy mistakes made in the past.
  • More Accurate Predictions: Statistical analysis and predictive modeling can be used to make educated decisions and optimize the chances of achieving the wanted results.

Using Analytics to Your Advantage
Business analytics can be used to directly influence your business’ operations and procedures. You could improve your sales process using data and insights gleaned from analytics, allowing you to identify who your primary clients and customers are, as well as optimizing how you target them. Analytics can also be used to streamline your inventory management, business finances, and many other critical tasks.

How would your business use analytics? Let us know in the comments, and be sure to subscribe for more great blogs from Prosper Solutions.

Technology Basics: Proxy Server
How to Thwart Targeted Phishing Attacks


No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Monday, March 25, 2019

Captcha Image

Mobile? Grab this Article!

QR-Code dieser Seite

Tag Cloud

Windows 7 Music Remote Monitoring Virtual Assistant SSID Safety Database Office 365 Big data Navigation Company Culture uptime Windows10 Office Consultation Emails Private Cloud Phishing Rental Service Read Application Windows Business Intelligence Vendor iPhone Best Practices Mobile Payment Vulnerability User Tip Specifications clout services eWaste Apps Best Practice Black Market Upgrade Unified Threat Management Small Business Information Technology Document Management Regulation VoIP Cooperation Gadgets Encryption Computer Repair Computing Infrastructure Compliance Network Security Productivity Error Computers Security Cameras Outsourced IT Managed IT Services Virtual Reality Troubleshooting Internet of Things MSP Software as a Service Internet Quick Tips Saving Money Telephone Systems Google Maps Computer Malfunction Business Growth Domains Travel Running Cable Analytics Mobile Security Comparison Excel UTM Phone System Start Menu Data Analysis Websites Content Tip of the Week Avoiding Downtime Dark Web Cache Patching Disaster Password Username Security Uninterrupted Power Supply Congratulations cyber security Writing Social Hard Drives Wi-Fi Smartphone SharePoint Permissions Word Relocation Data Protection Micrsooft Cost Management Data Loss Data Breach Social Network Scalability Migration Technology Politics Legal Employer-Employee Relationship Chrome Bandwidth Recovery Unified Threat Management Disaster Recovery Website Printers Training Trends Business Owner Competition Fleet Tracking Scam Laptop Mobility Redundancy Information Money Wireless Distributed Denial of Service Trending Chromebook Government VPN Workplace Tips Saving Time Networking Network Congestion User Tips Business Computing Pain Points Operating System Best Available Wireless Technology Windows 10 Gaming Console Touchscreen Shortcut Router Robot HIPAA Cybersecurity Cryptocurrency Hiring/Firing Printer Net Neutrality Deep Learning SaaS Time Management Directions Nanotechnology Tablet Enterprise Resource Planning IBM Displays outsource cloud computing Processors A.I. Augmented Reality Backup Tech Term Paperless Office Rapid City Medical IT End of Support Cortana Memory Data Management Intranet Hard Drive Cybercrime Blockchain Alert Server LiFi hardware Modem Multi-Factor Security History Legislation Network email scam Language Vendor Mangement Managed IT Service IT Support Messenger Screen Reader Healthcare Digital Payment PowerPoint IT service Thank You Proxy Server Voice over Internet Protocol Twitter Securty Keyboard Streaming Media Audit Wireless Headphones BYOD Fraud Public Speaking IT consulting Administration Settings Computer Accessories Licensing Access Control Applications Windows 8 Tracking Solid State Drive Tech Google Calendar Access Data Warehousing Gmail Presentation CrashOverride Machine Learning Spam Microsoft Work/Life Balance the Internet of Things Tech Terms Desktop Logistics Analytic Update DDoS Monitors Bitcoin Advertising Mobile Devices Product Reviews cloud Device security Hackers Evernote Health Digital Signature Email Communication Technology Tips Employer Employee Relationship Notifications Emergency Hack User Error Devices G Suite Business Cards Integration Productivity Browser Patch Management Firewall Download Virus Mobile Computing Efficiency Physical Security Google Play IP Address Cleaning Hard Drive Disposal Windows Server 2008 Microchip How To Solutions Miscellaneous Marketing Text Messaging Electricity Sync Proactive IT Business Metrics BDR Automation Citrix Xenapp Ransomware Entrepreneur Heating/Cooling Sports Google Docs Social Media Human Resources Gamification YouTube Skype Office Tips Bata Backup Entertainment User Business Public Cloud Lithium-ion battery Mobile Device Social Engineering Risk Management Identity Theft Business Continuity Customer Resource management Browsers IT Support VoIP Downloads Telephone System Finance WiFi Reading IT Plan Tech Support Business Management Search Smartphones Management Managed IT services Two-factor Authentication Law Enforcement Fileless Malware Knowledge Microsoft Office Windows XP Processing Tactics Virtualization Administrator Content Filtering Android Virtual Desktop IT Data storage Regulations Computer Care Computer Microsoft 365 Supercomputer Worker Motion Sickness Conferencing Windows 10 Cabling Cost Holiday Service Level Agreement Hacks Antivirus Environment Business Mangement Electronic Medical Records Upload Tablets Artificial Intelligence Programming Chamber Taxes Automobile Experience Help Desk Spyware Digital PDF Vulnerabilities HTML Drones CCTV Data Security Backup and Disaster Recovery Printing Value Banking Education cloud computing Managed Service Provider Business Technology GDPR Computing Save Time Hacking Data switches Google Drive Addiction Asset Tracking Current Events In Internet of Things Assessment Inbound Marketing Vendor Management Retail Facebook Collaboration Storage Mobile Device Management Webcam Managing Stress Upgrades Microsoft Excel Processor Budget Startup Remote Computing Software Hacker File Sharing Fake News Save Money Health IT Mouse Smart Tech News Hosted Solution Monitoring Managed Service IT Management Bring Your Own Device Web Server Corporate Profile Data Recovery Customer Relationship Management Freedom of Information IT Services Capital Connected Devices Going Green Reliable Computing Google Wallet WannaCry Mobile Technology communications Television Flash Malware IT Consultant outsource cloud storage Piracy Botnet Flexibility Privacy Term Books Outlook App Equifax Tip of the week Documents Project Management Co-Managed IT Innovation Data Backup Customer Service Maintenance Users Accountants Teamwork USB Multi-factor Authentication Software License Telephone Unified Communications Statistics Distribution Bookmark cloud storage Staffing Productuvuty Professional Services Passwords Samsung Managed IT Society Apple Bluetooth 3D Printing Workers Social Networking Electronic Payment Meetings Telephony Fiber-Optic Google Hosted Solutions Downtime Visible Light Communication CIO Network Management

Latest News & Events

Prosper Solutions is proud to announce the launch of our new website at http://www.prospersolutions.com. The goal of the new website is to make it easier for our existing clients to submit and manage support requests, and provide more information about our ser...

Contact Us

Learn more about what Prosper Solutions can do for your business.

Call Us Today
Call us today
(617) 369-9977

150 Eastern Ave, Second Floor
Chelsea, Massachusetts 02150