With the Analytics wave hitting the market and influencing industries across the board, Deskera, the leading business software provider in the Asia-Pacific region, has launched its Cloud-based Big Data Analytics tool in a bid to expand its footprint in the tech world and corner a pie of the Analytics cake.
“We are very pleased to inform the launch of our new Big Data Analytics tool. We felt that there is a big gap in market requirements and available applications. Our tool is affordable and it will empower small and medium enterprises and help them take the high growth trajectory by taking better business decisions,” said Shashank Dixit, CEO, Deskera.
Global revenue in the business intelligence (BI) and Analytics market is forecast to reach $16.9 billion in 2016, an increase of 5.2 percent from 2015, according to the latest forecast from Gartner, Inc., a leading global research firm.
“Our tool will carry out predictive and prescriptive Analytics (the most advanced areas of Analytics) apart from the usual descriptive variety, rarely carried out by competitors. We have the most advanced mathematical, statistical and algorithmic models for more accurate capturing, processing, curating, and managing of data,” said Somesh Misra, VP, Operations, Deskera.
Deskera’s Big Data Analytics Tool
Apart from carrying out descriptive, predictive and prescriptive Analysis, the company claims that the new product is also equipped to conduct sentiment analysis for customers by using data from social media platforms such as Twitter, Facebook, Linkedin, and so on. For example, if a company wants to launch a new product in the market or the government wants to announce a new policy, they can both run the Analytics tool on social media feeds and find out the prevailing sentiment at that moment and consequently take a decision as to whether it would be the right time to go ahead.
“Deskera’s Analytics tool is easy to set up and operate. Since the tool is Cloud-based, all data is easily transferrable and safe. There is self-learning inbuilt in our tool, so it adapts and learns in every new situation. Therefore, it is not industry specific and can be applied to any business,” added Misra.
Since Deskera’s Analytics tool is affordable than competition, it has a greater chance of finding favor with small and medium enterprises, which are usually struggling for financial resources. According to a research conducted by Deskera, 73 percent of enterprises think that using an Analytics tool gives them a 20 percent better chance of converting leads into sales.
What is Big Data Analytics?
Big data is a term for data sets that are so huge or complex that traditional data-processing methods are insufficient. Big data analytics is the process of probing those large data sets to uncover hidden patterns and unknown correlations, leading to the discovery of the interpretation and communication of meaningful market trends, customer preferences and other useful business information. Analytics uses several other forms of data that may be untapped by conventional BI programs, including Web server logs and Internet clickstream data, social media content and social network activity reports, text from customer emails and survey responses, mobile-phone call detail records and machine data captured by sensors connected to the Internet of Things. Such semi-structured and unstructured data cannot be processed by traditional data warehouses.
Firms may apply Analytics to business data to describe, predict, and improve business performance. Specifically, areas within analytics include predictive analytics, prescriptive analytics, enterprise decision management, retail analytics, store assortment and stock-keeping unit optimization, marketing optimization and marketing mix modeling, web analytics, sales force sizing and optimization, price and promotion modeling, predictive science, credit risk analysis, and fraud analytics. Big Data Analytics has found wide-ranging applications in areas as diverse as healthcare, crime control, stock markets, and several others.