There are 2.5 quintillion bytes of data being generated and collected every day. The speed at which we create data is strikingly high and projected to multiply every year. Nothing to exaggerate but very soon digital bits of data will surpass the number of stars in the known universe.
The frequency, intensity, and incredible rate at which data is generated raise a simple question: What are we going to do with this enormous amount of data? This vast quantity of data can help a business to make a smart move and turn it into high business value. But the catch is figuring out how to use the power of data. It’s been analyzed that many leading companies currently are able to analyze just 12% of the data and the rest remains fragmented and hidden in silos
Tableau is a powerful and globally known business intelligence software solution, which dice your data in unique ways and provides real-time visibility of business performance on the go. Studies show that companies using advanced business intelligence platforms such as Tableau are “twice as likely to be at the top of their business and peers,” and “Ten times as likely to make predictions and make decisions faster.” But are self-service business analytics such as Tableau only for select companies?
Tableau is meant for all industries and for companies of all sizes. Whether in banking, retail, manufacturing, finance, the public sector, consumer goods, communications, or media, Tableau can bring your data to life and empower you to make data-driven decisions.
Let’s find out the top 4 Industries where Tableau software is extremely useful.
Manufacturing Analytics Unleashing Productivity and Profitability
The manufacturing industry is moving faster at an incredible pace with ever-changing customer demands constantly challenged to reduce waste and latency, keeping assets healthier, managing customer expectations, and continually meeting regulatory requirements. Whether your operations are continuous, batch or discrete, Tableau software can improve process efficiency, uncover production inefficiencies, and surface intelligent and actionable insights to build a more resilient and sustainable business.
Tableau can help you quickly look into any production flaws, optimize production timelines, review resources output, optimize production schedules, and help you run a quick look into micro and macro levels. It also helps you reduce risk and cost whilst driving innovation. The manufacturing industry is embracing Tableau software for various reasons such as;
|Order Tracking and Sales Fulfillment||Inventory Valuation and Assessment||Procurement Analysis||Profitability and Growth Analysis|
|Sales and Operations Planning||Financial Forecasting||Audit Risk and Compliance Management||Production defects Analysis|
Retail Analytics Driving Sales and Informed Decisions
Transform your retail operations by acting on insights. Whatever the retail business you are in– food, beauty, wellness, apparel, or superstore, it is important to stay informed and act in real time. You can gain visibility into the insights into the buying preferences and patterns while addressing changing customer demand. Leading retail businesses understand how important it is to be insight ready and prepared at all times.
For instance, if you are in the apparel industry, you can uncover hidden insights into your customers’ buying habits and stock the product and apparel in greater demand. Tableau also empowers you to know the buying patterns using predictive models and sell the right products to your customers. It also- helps you in –
|Pre-and-Post Promotional Activities Analysis||Shopping Cart Analysis||Sales and Profit Analysis||Customer Churn Analysis|
|Trend Analysis||Online Shopping Cart Analysis||Supply Chain Cost Analysis||Risk Management Analysis|
Pharma Analytics Improving Drug Efficacy and Operational Process
Pharmacy companies today need each and every minute detail to manage their stock levels, sales, revenue, supply chain, procurement, manufacturing, and more. With so much at stake, it becomes tough to manage it all. Tableau empowers leading Pharma companies to transform data into engaging and interactive reports.
With Tableau, it is easy to monitor outcomes of drug discovery, optimize marketing strategies, R&D, and physician education outcomes, allocate apt budgets to various departments, and gain a birds-eye view of the entire business. Businesses dealing in Formulation and API & Medical Devices are uncovering new revenue with Tableau software such as –
|Compliance Management||Order Tracking and Sales Fulfilment Analysis||Inventory Valuation and Assessment Analysis||Supply Chain Analysis|
|Material Requirement Planning Analysis||Expiry Products Analysis||Warehouse and Cost Management||Revenue and Expense Analysis|
Finance Analytics Improving Financial Performance and Forecasting
Finance teams use Tableau to make a bigger impact and drive better business results. It breaks free the finance department from manual processes trapped in spreadsheets and delivers the insights they need to manage credit risk, regulation and unlock critical growth opportunities.
|Finance Planning and Analysis||Treasury Management Analysis||Enterprise Risk Analysis||Cost Management Analysis|
|Tax Management Analysis||Credit Analysis||Compliance Analysis||Profitability Analysis|
This suggests simply that Tableau is worldwide embraced by various industries and at large. Tableau is a game-changer for your fast-growing business as it unlocks hidden insights from your data and makes every day a breakthrough.
However, implementing Tableau software could be challenging if the right partner is not engaged. Uneecops, as a Gold partner of Tableau, delivers personalized and industry-focused solutions to maximize your business performance with Tableau.