What is the DECIPHER™ business intelligence platform?
DECIPHER™ is our full service business intelligence platform. It encompasses the methodologies, statistical models, and business processes we use to provide our five service categories: price optimization, performance analytics, demand forecasting, market research, and business intelligence solutions. Moreover, DECIPHER’s™ full service solution delivers all nine elements required to execute a business intelligence solution that will successfully optimize decisions and maximize profits. Yet, DECIPHER™ is also modular, empowering clients to take advantage of singular elements within the platform according to their needs.
What does DECIPHER™ deliver to the client?
The DECIPHER™ business intelligence platform provides data-driven answers to questions about your pricing, performance, future demand for your products or services, target market, and all other data-related questions. These answers are delivered in the form of interactive dashboards for your computer or mobile device, which are powered by our rigorous analytical models. DECIPHER™ also provides advisory services to help you contextualize these answers into actionable insight that will translate into bottom line results.
What are the nine dimensions of the DECIPHER™ BI platform?
A comprehensive business intelligence solution must incorporate all nine dimensions listed below in order to successfully optimize decision-making. The business objectives of a BI project will not be achieved unless each dimension is conducted by someone with a high level of expertise within that area. Competitive Analytics has proven expert capabilities in all nine areas.
Many BI projects fail to meet business objectives because they start off on the wrong track by looking for answers to the wrong questions. We help you meet your goals by working together to formulate the right questions, delving deep into your business and data. Every organization must ask themselves Nine Perpetual Questions, which encompass every type of question that should be asked and answered. This exercise of asking and answering questions is a perpetual and iterative process as the data and analytical results continually lead to new questions. At Competitive Analytics, our expertise in perpetual inquiry is based on our business-centric focus, cross industry expertise, robust analytics and custom solutions.
Internal Data Discovery
An overwhelming 95% of businesses analyze only 5% of their data, leaving most of the value in it unnoticed and unused. Most companies have valuable data recorded, but they are missing the opportunity to draw insightful answers from it. In this step of the DECIPHER™ process, we identify, clean, and organize the information you already have internally to draw out the hidden value of your data and key performance indicators (KPIs).
External Data Mining
A business does not exist in a vacuum. You cannot truly optimize business decisions without examining how the local, national, and global economy affects your business. DECIPHER™ tracks over 500,000 data series and research reports covering the global and national economy, all sectors and industries, and over 10,000 public and private businesses. One of the features of DECIPHER’s™ comprehensive and robust approach is to use external indicators from multiple data sources to mitigate the risk of erroneous data.
Contextual Data Crunching
In this step of the DECIPHER™ process, we overlay your internal data with the external data we source. We run over 800 mathematical, statistical, and analytical applications to identify the key external indicators that correlate to and “drive” your business. By running multiple models and scenarios, we mitigate the risk of incorrect or misleading results that are often the consequence of relying on only one method.
Reliable and Actionable Analytics
DECIPHER™ employs rigorous and business-centric analytics that you can rely on to make more informed decisions that can be acted on to improve your bottom-line. Our proven proprietary models and methodologies are used to discover meaningful patterns in the data related to your business performance. This involves analyzing and forecasting key performance indicators such as sales, prices, demand, supply, asset valuation, macro/micro economics, social media, consumer behavior, product segmentation, costs, submarkets, and many other KPIs.
Customized Visualization Tools
We’ll help you visualize your data and analytics by designing interactive and custom dashboards, reports, and scorecards for your exact BI needs. Because you are the expert within your own industry and company, our interactive dashboards provide you with ultimate control of the metrics and allow you to create “what-if” scenarios instantly, giving you the ability to be ready for any situation before it happens.
Interactive Mobile BI
DECIPHER™ Mobile makes it easy for you to harness the value of your data and make informed business decisions on-the-go with your iPad and iPhone or Android device. Being able to access your sales data while interacting with prospective clients, presenting operational analytics within any dimension of your organization at investor meetings, or working remotely can significantly enhance your productivity and efficiency. With our mobile business intelligence platform, you are no longer tied to your desktop to make optimized decisions.
Big data coupled with deep analytics must be contextualized in order to truly be considered business intelligence. As a key component of the DECIPHER™ platform, we help you contextualize your data by delivering both strategic advice and tactical implications of our analytical findings, including actionable decision scenarios. As your “analytics concierge”, we will also deliver BI training, integrate data-driven solutions, and foster an analytics-based company culture.
All components of the DECIPHER™ platform empower your organization to optimize decisions. Our powerful optimization models (run by our analytical experts) output a series of unique recommendations that, when taken together, improve the bottom line. For example, our RVO pricing model (Rent-Value Optimization) within the DECIPHER™ Apartments platform will output unique unit-by-unit rental rates that together will result in the maximum total rental revenue. The high level of expertise required to analyze and synthesize the large number of variables driving demand, price, and consumer behavior into a recommendation should not be underestimated.
How Do These Functions Work Together?
To learn more about the DECIPHER™ business intelligence platform, contact us today.