A leading US commentator on technology recently commented that “if you choose not to embrace the cloud you are retiring in five years”. Scary stuff, and it is not just the preserve of our transatlantic colleagues, this is also happening across small businesses in Europe. So why is cloud accounting for small firms now garnering […]
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Predictive Analytics and Data Science is a new spin on already existing topics. It’s a combination of business analytics, operations research, business intelligence, competitive intelligence, data analysis and modelling and knowledge extraction.
Combine all the above with knowledge of how to use the latest statistical techniques and code and you have a pretty good working definition of what Data Analytics and Data Science is.
What can I do with it?
Previously all of the analysis tools would have been available only to large corporations. With changes in software and hardware, more data is now collected inexpensively by nearly all organisations. Combine this with the lower cost of the tools of the trade means that small business, internal organisations, nonprofits and individuals can use the latest data analytic techniques to discover new opportunities, increase profits and improve services.
The main barrier is just learning it.
Who can learn this?
The pathway we will show you can guide someone from basic computer knowledge right up to junior data analyst. If you have never coded before or your mathematics are rusty we have additional pathways on how you can get up to speed with those too. Cloud Accounting can show you how to productively use data analytics in your job or business.
What are some examples of people who would use data analytics?
These are just some possible examples, the items covered by data analytics can be used in a wide variety of fields:
Research and analysis campaigns. See trends and discover patterns in the marketing data from Facebook, Twitter and e-mail.
Used to predict and forecast new markets. Calculate and discover patterns in the costs of an organisation. Investigate new market opportunities among existing customer data.
Program Managers and Developers
Use data science in the development process and as a part of a product. See the efficiencies and bottlenecks in a team. Discover ways to improve the team management process. Create new ideas for product features from patterns and usage data of existing products.
Improve the supply chain of the company. Manage inventory and improve the process of stock management and purchasing. Measure the performance of different tasks and calculate the resulting costs due to changing conditions.
Business Owners and ENTREPRENEURS
Use data science to discover new opportunities in the market. Build data-driven products that use data gathering and analysis to provide value to a customer.
Currently, there is a highly favourable environment for businesses and those who invest in them. In addition to the growing diversity of sources of finance, such as crowdfunding and peer-to-peer lending, there are tax relief schemes and small business incentives devised to help companies of all sizes secure funding. If your business meets certain criteria, it may […]
HMRC’s Making Tax Digital – MTD – is a stop date, HMRC have basically said ‘from this date on: everything will be in the cloud.’” Equally, it seems the digital transition will also be a stop date for cloud companies, and Cloud Accounting NI is here to help small businesses shift to this software oriented […]
How do we know that equity Crowdfunding has finally arrived on the scene?….well Crowdcube have just raised £1.5m, through their own Crowdfunding platform, in just three days from just over 250 investors. The investment, which sets a new world record for funds raised via an equity crowdfunding platform, will be used to fuel Crowdcube’s next phase of growth.This comes on the back of FSA approval meaning investors using Crowdcube will now be able to claim compensation from the Financial Services Compensation Scheme and access the Financial Ombudsman Service if they have a complaint, giving people have that confidence of the additional protection they’ll get as a result.
Crowdcube has helped 36 small businesses raise a combined £5m since it was founded two years ago. Consumers can back small businesses by buying stakes with as little as £10.
For small businesses, selling shares through crowdfunding remains a very niche activity, but it is an option that is growing in popularity.
Seedrs, another UK crowdfunding website, is already authorised by the FSA, but it does not facilitate direct investment in small businesses. Instead, it holds shares in a company as a nominee and manages them on investors’ behalf.
It is obvious the UK’s financial services industry and its regulators are reacting dynamically to new models of business finance, such as equity crowdfunding, so that the UK can maintain its position as world leaders in this space.