Data discovery, also known as data analysis for business users, is one of the top business intelligence trends for 2022. Let’s take a look at how industries like yours are making use of data analytics tools to find patterns and derive insights from data. You just might be surprised at the innovation spanning each sector.

Fintech

As masters of the application of new technological advancements to financial products and services, it’s no wonder that leaders in the financial industry are also leaders in data discovery. Many know exactly how to take BI to the next level, and have enjoyed tremendous success. Some attest to having shrunk planning, reporting, and close cycles by as much as 50%.

Imagine what you can accomplish by leveraging data discovery in these key areas:

Financial Planning & Analysis: Real-time data at your fingertips means action can be taken to adjust plans in response to the ever-changing marketplace events.

Financial Reporting: Take a deep dive into the details of your live ERP data, directly in Excel. Feel empowered as neither IT department or consultants are required.

Consolidation: Automating processes is a game-changer. The end result is a higher standard of quality and at scale.

The use of data discovery can be transformative in your equity management, tax and transfer pricing, financial reporting, and so much more. Take your business to the next level.

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Life Sciences

Whether a researcher or a hospital administrator, professionals in the life sciences arena are constantly balancing a juggling act. How do you control costs and also keep up with compliance? You can’t do it alone. Just like you aim to help others, technological advances can help you too. Check out how you can improve efficiency by leveraging two key embedded analytics capabilities, i.e., real-time data access and automation in you financial reporting. These can help with your most disruptive challenges:

Manual: We all know that manual anything means labor intensive and an invitation for errors. Get out of the Stone Ages and into the Age of Information where automation is the only game in town.

Antiquated Tools: The truth is that existing tools are optimized for financial reporting. Given what’s at stake in biomedical and biotech, being current in technology is the only way.

Compliance: Standards are a constant and global. Data accuracy is #1 and can only be assured with advanced analytics.

BI tools can save the day in the healthcare space as the digital world transforms your every day and you are constantly adjusting to a new normal.

No matter the industry, the benefits of data discovery tools are all encompassing. Want to learn more about how to promote business growth with analytics? Watch a demo of our low-code solution, Logi Composer.

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The post Data Discovery: From Finance to Healthcare appeared first on insightsoftware.

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