About Us

IT Services

Electronic Security

Knowledge Center

News & Events



Contact Us

  • 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
Thursday, January 17, 2019

Captcha Image

Mobile? Grab this Article!

QR-Code dieser Seite

Tag Cloud

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

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