Business intelligence and analytics solutions provider IRIS-TEG has announced the launch of a new service offering, “Insights at the Speed of Business”, to help businesses make better decisions using analytics.
A typical fact-based decision-making process has three steps. First, the analysts crunch through large volumes of data to generate findings, then business managers convert these findings into insights, and finally it is the decision maker who takes the call on whether to move forward or not.
Business managers are always short on bandwidth because they are doing step 1 and 2. At the same time, the decision makers need the insights to make well-informed decisions. The end result is a burnt-out middle manager and frustrated decision maker because they cannot seem to get the leverage required to make the process work well. However, with the new tool by IRIS-TEG, this cumbersome decision-making process becomes simple and effective.
“Insights at the Speed of Business was inspired by the potential that exists for businesses to make better business decisions using analytics,” says IRIS-TEG founder Arvind Nagpal.
Stressing that most companies face several roadblocks in setting up a cohesive Business Insights unit, Nagpal says, “The data mining software itself is fairly expensive and can put a big dent on the capex. People with quantitative skills in disciplines like statistics, operations research and econometrics are hard to retain. And, more importantly, the philosophy of developing actionable insights takes experience, domain knowledge and challenging status quo all the time. It is the need of the hour as companies in India focus on expansion.”
IRIS-TEG partners with companies to offer the leverage required to streamline the fact-based decision-making process. IRIS-TEG essentially becomes the extended Business Insights Group for business teams and works in a seamless fashion to help generate insights.