5 Benefits of Data Analytics for Business Growth

There’s always something your company can do to increase margins, improve performance or streamline operations. But without the right data analytics tools at your disposal, the answers remain elusive. That’s why enterprising companies are always trying to eliminate the barriers to timely, user-friendly and trustworthy insights.

Here are the five benefits of data analytics that can drive growth for your business.

  1. Faster Insights
    The speed of our business cycle means information is only useful if it’s fast. Waiting for turnaround on manual reports means less time to actually make decisions. The shorter delay between having a question and getting an answer, the better.

    ThoughtSpot’s Relational Search Engine is an ad hoc query tool allowing users to instantly ask questions of their data using a simple search bar. That means it’s now possible to get a definitive answer in seconds. 

    Furthermore, this engine provides flexibility to answer questions as they arise—an advantage over static reports, which only address a set of pre-existing questions.

  2. End User Accessibility
    Relying on the clunky, siloed BI systems of yesteryear only slows down progress. Without an easy way to disseminate information throughout a company, there’s also room for miscommunication.

    To put it simply: Anyone can use ThoughtSpot if they have permission. And, embedded dashboard tools make it easy for anyone to share intel through centralized workflows and portals.

  3. Best-Fit Visualization
    A built-in BI & Visualization server produces interactive charts so end users no longer have to fumble with spreadsheet tables and graphs. This visualization tool chooses the best model out of over a dozen types—but users can change the appearance at will.

  4. Granular Security
    Speed and accessibility are great, but only when paired with scalable security solutions. You only want the right eyes on the right data sets. Leaders can set authorization permissions for millions of individuals and thousands of groups both inside and outside of an organization.

  5. Verifiable Accuracy
    You click to launch the SpotIQ AI Engine. Its analytics algorithms work to pull insights from billions of points of data. You have relevant insights in front of you within seconds. But how trustworthy are they?

End users can actually trace answers back to the source data from which it came. Furthermore, you can provide feedback to hone SpotIQ’s machine-learning algorithms. Over time, the system gets better at returning relevant insights.

Start using data analytics tools from ThoughtSpot today!

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