Category : Market & Business Analytics | ID : BLOG108935

Data usage to back up businesses

ETALING JAYA, June 23 — Dreamer, aristocrat, knight or doubter.

Four words hardly associated with data but this is just one way Qlik, a leader in business intelligence, helps entrepreneurs get ahead in the game.

Qlik Asean managing director Suganthi Shivkumar said the key factor behind a business lies in data, adding that to further boost a data-driven society, Qlik has developed an online data personality diagnostic test which assists entrepreneurs in knowing how well they understand data.

“By taking part in this, you understand what personality you fall under and we have broken it down into four ? a data aristocrat, data knight, data dreamer, or a data doubter,” she said.

A data aristocrat is someone who has advanced skillsets and experience in data analytics while they can serve as a mentor to help others while a data knight is confident but driven to become more data literate.

An entrepreneur falls under the data dreamer category if they are still in the beginning stages of data literacy while a data doubter is a person who is too often sceptical of the value of data-driven decisions and the importance of it.

“Depending on the result, Qlik will provide a pathway to guide them to be more effective in their data journey.”

Successful entrepreneurs have always relied on some form of data to boost profit, reduce losses, when managing a crisis situation and to monitor performance within the organisation.

As we move forward, collecting data is more than just reporting some numbers on a sheet of paper with tables and graphs.

Collecting data can be tricky because of the financial cost, time, difficulty of execution and more problems associated with data collection.

Suganthi Shivkumar is hoping to build a more data-driven community.
Suganthi Shivkumar is hoping to build a more data-driven community.

Suganthi said the key factor behind a business lies in data.

“Data tells you a very powerful story. With data an entrepreneur can increase revenue, decrease cost and manage business risks in a more organised structure.

“If they carefully understand the story their data is telling them, they can take corrective action, cease opportunities and avoid sub-optimal operations ? it won’t only help a business to survive but to thrive.

“Traditional businessmen used to depend a lot on their gut feeling, it works to some extent, but wherever there are limitations, data will back it up.

“If every business is backed up with strong data, it can only improve,” she said.

Qlik has over 25 years of experience, along with 48,000 customers and 1,500 partners who provide customers data analytics or solutions in various institutes such as banks, insurance companies, retailers, manufacturers, public sector organisations and educational institutions.

She added that 100 per cent of their efforts is focused on helping organisations harness the power of data and to provide them insights into their business.

“Everyone knows they are flooded with data. But how do you truly make use of it?” Suganthi said.

She added that although the company’s focus was to provide companies an in-depth look at their data what she truly hoped for was for the birth of a data-driven culture especially in Malaysia.

Qlik contributes to this aim by having a data literacy programme, which has been very well received by their clients.

“For instance, as kids, we went to school to write, but it’s never enough. You are still writing years down the road, but you improve your skills and that is what data literacy can bring.”

The programme, she said enables an entrepreneur to understand four key factors in relation to data ? the ability to read, work with, analyse and argue with it.

“The reason behind our programme is simple, the stronger the root, the stronger the tree ? strong data insights helps you make strong decisions.”

Earlier this month, Qlik announced the start of its Qlik Sense Tour, which spans across 48 countries alongside 100 partners, to showcase the power of analytics to transform data into powerful business tools.

Over the course of the tour, they will showcase exciting new feature releases including its multi-cloud strategy and innovations in augmented intelligence that surface the most important insights from an expanded set of data discovery.

In Malaysia, iEnterprise Online Sdn Bhd — a subsidiary of Ancom Berhad ? has been partners with Qlik since earlier this month.

It was awarded Qlik’s New Asia Pacific Partner of the year in June 2018.

Loh said Qlik can help increase sales by 10 to 30 per cent.
Loh said Qlik can help increase sales by 10 to 30 per cent.

iEnterprise Analytics and Big Data chief executive officer Loh Chian Hong said its customers have seen a substantial growth since switching over to Qlik from other data collective and reporting methods.

“It’s quite fair to say our customers have easily seen an increase of sales by 10 to 30 per cent without doing much additional work and just by analysing the data they have.

“International customers primarily have talked about the higher percentage of improvement since the switch.”

Loh added that with Qlik, a company can achieve its goals three times faster.

“We can develop something faster with a lower risk. In business, if you take too long, it changes and time to market is important as you would like to take competitive advantage over competitors,” he said.

“Most businesses focus on outgoing issues — sales and marketing primarily. When one does not get the results they sit back and question themselves — What happened? How can I avoid it?

“Most of the time they will tell you they do not know they have failed because they hardly analysed. There’s a reason to why things happen and where do we get the clarity? Through data.”

Source : Malaymail

© 2019 Sajid Rashid. @visitsajid