Business Intelligence for Business (3/5): Big data and BI

Welcome to the third post in this Business Intelligence for business series. In this series, we discuss several aspects of Business Intelligence and its implications on the business. If you have not read the first article on this series, please follow the links below. 

Business Intelligence for Business (1/5): Why Being Data-Driven Matters

Business Intelligence for Business (2/5): How AI is transforming BI

Now let’s dive into today’s topic. Big data and BI 

Business Intelligence (BI) landscape is changing quite visibly. BI is evolving, driven by Big Data, Cloud and Advanced Analytics. 

The combination of these technologies and methods has unveiled the possibility of invoking new use cases that could not even have been considered before.

In the era of Big Data, businesses have a great challenge ahead: Generating more and more value from their data. Organizations gather huge amounts of information, and they do it at such a speed that their analysis involves more and more difficulties. The objective is not only to analyze the data but to separate the useful data from that which is not.

In order to proceed further into Big data and BI, let's understand the traditional BI architecture. A traditional BI architecture comprises of:

1. Extract-Transform-Load (ETL) a tool that periodically integrates data from structured data sources – databases or CSV/Excel files – and transforms and reorganizes the data
2. BI data model made of dimension and fact tables, suited for efficient reporting
3. Data Warehouse (a relational database - RDBMS) that stores the data transformed by the ETL tool
4. The reporting tool that leverages the data in the Data Warehouse by using the underlying SQL engine to create dynamic visualizations that are organized into reports and dashboards for business users.

Big Data, as its name suggests, is all about data the challenges Big Data set out to address are:

1. To capture and store such large amounts of data efficiently
2. To analyze that data so that the enterprise can ferret out a better understanding of its own operations or what its customers want and how it is addressing those needs.
3. To collect huge amounts of data and support the processing and analysis directly in a secure fashion
4. To enable enterprises, sift through the data, ask important questions and visualize the results.
5. To reduce the delays and latency so analysis can be incorporated into the operations of the enterprise.

Now If we integrated all the above-mentioned uses of Big data into a BI architecture and upgraded our Data warehouse / DB technology to leverage the above-mentioned optimizations, we would have the architecture that’s best of both worlds i.e. BI and Big Data.

Here’s how enterprises can turn Big data and BI integration into a business advantage.

Sales analysis:

Integrating Big data and business intelligence solution can assist retail organizations to pull out essential information from a chunk of data, by addressing the question at hand. It can provide definite answers to questions like how much of a product is being sold and the type of client that’s buying the product as well as the store or outlet that sold the product, and the specific time.

Inventory analysis:

BI and big data allow operations managers to have a detailed summary of the operations, so they can eliminate any bottlenecks and enhance efficiency. The access to real-time information also enables finance managers to take care of traditionally narrow margins of profit with greater context to make sure they enjoy maximum gains from investment into inventory.

Consumer Analysis

Having access to real-time consumer demand pattern information allows enterprises to match their inventory to their orders accurately, which results in customer satisfaction. Consumer analysis can also help predict seasonal spikes, trends, and depression.


Summary

Now that the concept of Big Data has had time to evolve, enterprise decision-makers no longer must feel like they’re on their own and that there are no maps, no established roads, and no guides. Our solution experts at PsiberTech solution can guide you about the Big data and BI integration efforts in your organization.

Srivatsan Aravamudan - Sri

Senior Solution Consultant

Mail:  srivatsan@psibertech.com.sg

Call:   +65 62689551

PsiberTech Solutions Private Ltd

Singapore on Human-centric approach to Artificial Intelligence

Singapore’s strategic initiatives to become a regional tech hub has been quite apparent for several years now. There is no debate that Singapore ranks #1 in Asia for innovation, and #8 globally. Over the years Singapore has deepened its capabilities in key sectors such as Advanced Manufacturing and Engineering, Urban Solutions and Sustainability, Health & Biomedical Sciences, Services & Digital Economy and FinTech, earning the title as South East Asia’s regional powerhouse.

An amalgam of factors such as supportive government, highly skilled talent pool, strong IP regime, and well-developed tech infrastructure add nourishes the fertile ground of innovation in Singapore. Singapore’s Prime Minister Lee Hsien Loong identified four technology sectors that Singapore needs to build – namely data science and artificial intelligence (AI), cybersecurity, the Internet of Things (IoT), and future communications infrastructure such as 5G mobile networks. 

Several initiatives such as SGInnovate, AI Singapore were funded with several billion dollars to ensure nurturing deep tech roots in the country. AI Singapore even launched a program called “100 Experiments”, aimed at solving problems with AI in different industries.

According to a study carried out by IDC, in the ASEAN region, AI adoption rates are currently on the rise and growth has almost doubled in comparison to last year. Artificial intelligence has the potential to reinvigorate the state island's economy and boost its industrial profits as, according to a recent report by Accenture, AI could add up to US$215 billion in gross value across 11 industries by 2035.

However, adoption of AI into practical applications comes with its own challenges, organizations that are venturing on AI solution need to understand that

1. Decisions made by or with the assistance of AI are explainable, transparent and fair to consumers

2. Ensure artificial intelligence solutions they deploy are human-centric

Well the government had thought about that as well. Beginning of this year at Devos, Singaporean government announced it was working with the World Economic Forum’s Centre for Fourth Industrial Revolution (WEF C4IR) to help drive the ethical and responsible deployment of artificially intelligent technologies.

This approach comprises three interlinked and multidisciplinary initiatives:

1. A governance framework,

2. An experienced and respected international advisory body, and

3. Cutting-edge academic research.

The framework is the first of its kind to exist throughout Asia and provides guidance which is both detailed and readily implementable to help organizations throughout the city-state navigate the complex ethical questions that often arise when AI technologies and solutions are deployed. The government also understands that this framework needs to be a living document and agile in order to evolve with the fast-paced changes in the digital economy.

While the arena is already set for the revolution, Tech companies like PsiberTech Solution are playing a vital role in being a front runner and contributor to the initiative. 

Psibertech is creating cutting edge custom solutions by utilizing AI and Robotic engineering technologies in providing solutions in Health care and Manufacturing industries. To know more about the AI initiatives at PsiberTech solutions or start a conversation head over here.

Srivatsan Aravamudan - Sri

Senior Solution Consultant

Mail:  srivatsan@psibertech.com.sg

Call:   +65 62689551

PsiberTech Solutions Private Ltd

Business Intelligence for Business (2/5): How AI is transforming BI

AI is bringing robustness to the BI

Welcome to the second post in this Business Intelligence for business series. We discuss several aspects of Business Intelligence and its implications on the business. If you have not read the first article on this series, please click here. Now let’s dive into today’s topic.

Business Intelligence for Business (2/5): How AI is transforming BI

AI was once discussed only in fictional books and movies. However, AI in business intelligence is evolving into everyday business as we know it. Companies can now use machine algorithms to identify trends and insights into consumer behavior and make faster decisions that potentially position them to be competitive in real-time.

The explosion of new big data sources, including smartphones, tablets, and Internet of Things (IoT) devices, means business no longer wishes to be weighed down by heavy static reports generated by BI software systems. They require more actionable insights. This is what powered BI to step out of its zone.

BI software over the years has evolved into:

Descriptive analytics

This is the most straightforward BI system that summarizes data and informs what happened.

Predictive analytics

As the name suggests it “predicts” the future. Predictive analytics enables companies to have future insights.

Prescriptive analytics

A relatively new but robust field that enables users to prescribe various possible actions and advise accordingly towards viable solutions

Adding artificial intelligence (in the form of machine learning) into business intelligence is the surest way to accelerate data insight. 

Establishing a unified AI+BI database—an insight engine—means a business organization can move from an analytics posture that looks back to one that looks forward. This is the difference between asking “what happened in the past?” versus asking “what will happen in the future?”

This close AI integration provides seamless user experience, and deliberately so. People are busy running businesses, not technology, so it’s important for data analytics solutions to explain the logic behind the answers and suggestions, as well as receive live input from users as to how these AI-driven modules are performing in the real world.

Solutions that offer insights on past purchasing behavior, help plan and forecast for the future, and deliver ideas to optimize the business are in high demand. This is a result of their ease of use, ability to help market, buy and sell better, and improve operational efficiencies, ultimately leading to increased profitability — all with the help of AI.

If these were not enough let’s look at why a business needs AI-powered BI systems

1. The Dashboards are not enough.

2. AI helps to avoid a big data overload.

3. AI helps to get insights in real-time.

The journey to a fully operational AI +BI capability that can withstand the requirements of the Extreme Data Economy begins with a single step toward the right infrastructure. Get in touch to set up a no-obligation session with a PsiberTech expert who can help bring AI to your BI.

Srivatsan Aravamudan - Sri

Senior Solution Consultant

Mail:  srivatsan@psibertech.com.sg

Call:   +65 62689551

PsiberTech Solutions Private Ltd

Business Intelligence for Business (1/5): Why Being Data Driven Matters

Business Intelligence for Business - Data-Driven Matters

Welcome to yet another series in PsiberTech Blog. This is the first of 5 blog posts in which we would be discussing Business Intelligence aspects and how it can benefit businesses. So buckle up and get ready for the exiting roundup on Business Intelligence.

Business Intelligence for Business (1/5): Why Being Data Driven Matters

As we are traversing the disruptive data age, this much is clear: the availability of data is changing how business are run, only if the companies find a way to interpret and use it. Business Intelligence (BI) software enables executives and managers to harness data and steer the company with fact-based insights rather than opinions and ideas. Business Intelligence software such as Voyager or Microsoft Power BI would do that for your business.

BI software is nothing new. In fact, they have been around for the last 20 years. However, there has been a spike in interest recently due to the very fact that we are sailing in the data-driven century. In this article, we would explain about BI and why your company should invest in this technology.

Let’s say you want to know the effectiveness of your production or sales your X department has contributed during the last quarter. 

A report from your existing software, or from your IT manager would give you an idea of what happened in the period. However, it will not provide you enough information about why something has happened or did not happen during that period.

The main difference lies in the characteristics of each.

Report 

Records the past activity and data and answers “What happened”

Business Analysis 

Analyses the data to evaluate or anticipates business performances under a given set of circumstances. The BI answers the question “Why did it happen”

BI could consist of:

1. Spreadsheet Analysis – Enables basic analysis of data

2. Ad-Hoc query – Enables users to extract data themselves using customized queries.

3. Visualization Tool – Provides an understanding of data by creating a visual representation of it

BI could do either or both for your business:

1.Monitoring: What’s happening now – Analysis using

a. Dashboards – A centralized display of useful and actionable data/ metrics for the organization. The dashboards can be customized for specific users, manager or for business owners.

b. KPIs- Key performance indicators (KPIs) are the measure of performance, such a click-through rate, return on investment, etc.

c. Performance Management – Systems that are designed to ensure that all performance goals are being efficiently met.

2. Prediction: What might happen – Analysis

a. Predictive Modelling -Any model that attempts to predict the probability of an outcome

b. Data Mining – A way of extracting patterns and correlations from large amounts of data

More and more business users are demanding analytics and BI insights than mere reports. We know that analytics is no longer a function of a few specialists; rather sales, finance, logistics, marketing and other areas of the business are leveraging information to make better data-driven decisions.

Business leaders and professionals across the board now recognize they need software solutions that are easy to use, can arrange, access and analyze data, and are tailored to the business’ metrics, questions, KPIs and demands.

People want immediate answers because data analytics is now pinpointed. And as BI software becomes more industry-specific, organizations are gravitating toward them.

If you are not sure how to harness the power of Business Intelligence in your company or even where to begin, the team at PsiberTech can help

Srivatsan Aravamudan - Sri

Senior Solution Consultant

Mail:  srivatsan@psibertech.com.sg

Call:   +65 62689551

PsiberTech Solutions Private Ltd

11 Advantages of working with custom software engineering company

Lets first address the elephant in the room, Custom software is a big investment. For that reason alone, many companies choose commercial off the shelf applications (COTS), when they need internal or customer-facing software solutions. Besides COTS does cater to the basic needs and they are proven products while custom software is an unknown factor.

The problem, however, is that the money-saving strategy (lower up-front cost of COTS applications) doesn’t tell the whole story. Working with a good software development firm to develop custom software applications unique to your business may cost more in the short term but will pay off big time in other areas such as measurable ROI.

In this post, we share 11 reasons why working with a custom software development company is worth the cost.


1. Expertise and Experience

COTS solutions are never built for a specific business, so they may not address your unique needs. On the other hand, with a custom software development company, you get to choose the one that has experience in the industry you are in. They will be able to build a software application specific to your business. They will also be able to guide you with expertise and industry-specific features in your product.

2. Don’t pay for what you don’t need

Off the shelf products often tend to charge you for features you don’t need and require multiple rounds of upgrades (costing you time and money). If you have configured or customized the COTS, you would have further headaches of ensuring all of these features function as expected after the upgrades and fixes. However, with custom software solution you only pay for the features that you need. Since it's built from scratch custom software often doesn’t need many updates and fixes as COTS.

3. Opportunities that you might miss out

A good software development company will work with you as an extension of your IT department. They understand your business and collaborate to ensure that the solution delivered is in line with your business. As time passes the software development company consultants would be able to identify opportunities for automation, integration, and innovation that you may have not thought about.

4. Rest assured software will meet your needs

This is the primary advantage of using custom software development instead of COTS. Working with a reputable company with a proven track record means that your software is exactly what you want for your business. It will address every challenge you want to solve and there won't be additional tweaking or add-on software necessary.

5. Integration and training

Custom software is built not just to your needs but also to fit perfectly in your environment. The software application will be custom made to interact with your existing systems and processes to deliver a smooth experience to you. Your users will be able to adapt to it quickly and you will spend less on training. One application developed specifically for you can replace many systems in your environment. Thus, saving you cost in training, licensing and add on procurements.

6. It's faster than you think

Custom software development has a reputation for the long-drawn-out process. It is true when using older methodologies for development such as the waterfall model. 

The new lean development methodologies like Agile is aimed at delivering the minimal viable product (MVP) as soon as possible. The model also delivers the product in multiple sprints (installments). You will start seeing workable product faster and be able to contribute to the development by providing valuable feedback throughout the development.

7. The cost won’t spiral out of control

COTS software might look inexpensive on paper, but when you factor in the long-term cost of maintenance, additional configurations, add-ons, working with custom software development firm starts to look more reasonable. Using agile methodologies as specified above can help in lowering the cost by developing exactly what you need in shorter intervals and thus keeping the cost under check.

8. Team effort

When you partner with the right custom software development firm its match made in heaven. Your software goals become theirs and in my own experience, I have seen development company delivering more value and features than what is agreed on. The developers often add their vision to the project while you provide the business rules, nitty-gritty operations of the business.

9. Latest Technology

Custom software development firms invest in learning, updating to the latest technologies so they can provide cutting edge applications to the customers. A good software development firm would able to guide you on using the latest technology solution rather than COTS application which may have been developed several years ago with older technology. Your application is as good as the advancement in the software it has been written in. Thus, by using a custom software development firm you will benefit from up to date innovations without additional investment.

10. Written with security in mind

Custom software is always written with security in mind. COTS applications are also built this way but once the vulnerability is found, everyone who uses the software is at the risk of an imminent attack. The code of the custom software, on the other hand, is known only to the development firm and to you. You may even buy the IP rights when you choose custom software to have full control. Security-conscious firms often choose a custom software development approach mainly for this reason.

11. Competitive edge

When your business offering is unique you also need a unique product to compliment the service you provide to the customers. You obviously have an advantage over competitors if your software is custom-built. Your application can encompass innovation, automation and design features better than that of your competitors. Custom software is also scalable, and you can make modifications to your software to keep an edge over your competitors.

I hope you have enjoyed reading through the advantages of working with a custom software development firm for building your application. Let me know what other factors are you might consider, and let us help you build something amazing.

Srivatsan Aravamudan - Sri

Senior Solution Consultant

Mail:  srivatsan@psibertech.com.sg

Call:   +65 62689551

PsiberTech Solutions Private Ltd

Programming robots for Healthcare

Robots in Healthcare has become the new future

According to a recent market report, the global medical robotics industry is forecast to be worth US$11.4 billion by 2020 – increasing at a compound annual growth rate of 22 percent from 2015.

74-year-old Ms. Tenzin is at the clinic for her shoulder pain. While she waits for her appointment, a robot rolls by and asks for her symptoms. Later, the doctor prescribes a robotic led exercise application.

This could well be the future of healthcare in Singapore. Several organizations including, the National health robotics lab (Center for Healthcare Assistive and Robotics Technology at Changi General Hospital,) are researching and testing new ways to deliver care and improve staff’s productivity.

Smart hospitals are working on the usage of soft surgical robots, soft rehabilitation robots, health games, and personalized medicines. Proof of concept robots are being built and coded with artificial intelligence in order to learn from social situations at health care facilities.

PsiberTech solutions have been a front runner among the custom software development firms in Singapore and have been contributing to smart city initiatives in bringing tangible changes to the health care industry. 

Considering the aging population in Singapore, these assistive technologies would be directed at the well being of elderly patients. 

For the elderly and those with disabilities, developments in assistive technology and robotics can make a real difference to the way they are able to complete tasks and activities.

For example, personalized exercises can help the patient by imitating the human movement and teaching exercises to the patient. It can also record, assess and report the improvements of the patient to the doctor. This, in turn, would create a series of interconnected events that are aimed to help the recovery of the patient.

The advancements in robotic technologies also pose pressure on the software industry to deliver reliable, scalable, and efficient systems to effectively engineer robots to the needs of healthcare.  Therefore, partnering with the right software solution provider is important for organizations that are venturing into the healthcare space.  

Robots greet and guide patients at healthcare facilities

The work at PsiberTech solutions is fast-paced, and we love the challenge of tackling new problems that arises while implementing these solutions. 

We are always ready to get our hands dirty and dive into new AI algorithms to deliver high-quality robotic engineering solutions.

We have a proven record of enabling robots to navigate and manipulate objects in human environments in a way that is safe, robust, and socially acceptable. 

We are focusing on the following areas of innovation:

• Designing and developing robotic systems for human-robot interaction 
• Navigation for dynamic indoor environments
• Machine learning and data visualization
• Manipulation in semi-structured environments
• Customized web-based applications to control the system

Simply put, we have the capability to turn academic theory to practical application. Healthcare is not just a lucrative industry but also a necessity for our future and its vital that we invest in it. We have a lot to chat with you on this subject, contact us here and together let’s create robust robotic solutions for healthcare.

Srivatsan Aravamudan - Sri

Senior Solution Consultant

Mail:  srivatsan@psibertech.com.sg

Call:   +65 62689551

PsiberTech Solutions Private Ltd