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Are you spending your year-end budget wisely?
October 10, 2019

It is the time of the year for most of us to start thinking about our year-end spend. Whether it’s at home for Thanksgiving and Christmas gifts or at work where we’re rushing to spend year-end budgets because well – if you don’t use it, you lose it.

Instead of spending resources on low-value, one-off projects, here’s a suggestion: Spend it on setting your people up for 2020. It will go a long way and will be money well spent. After all, according to a study made on procurement spending by the U.S. Federal Government, year-end IT projects have substantially lower quality ratings.

Here are my tips for spending your budget wisely:

AI-powered analytics

Are you or your team still spending hours to consolidate data and build reports using Excel? By leveraging a secure cloud environment, you can enable your staff to combine their data to create rich quickly, interactive visual analytics, get AI-generated insight suggestions automatically and most importantly, facilitate collaboration amongst the team in a governed environment. You can start with a free 30-day trial with Qlik Sense Business, get access to free training videos and start to make an impact on your business with modern analytics.

Conversational Analytics

Is it an everyday challenge to drive your stakeholders to work with analytics and increase the value of your data? Bring data to them by enabling them to talk to your analytics directly through conversation analytics using their innate communication skills to get the information they need. Enhance their data literacy with Qlik Insight Bot, which offers a fast and easy way to ask questions and discover insights using natural language. With each question, it instantly surfaces relevant charts and insights, including key drivers, comparisons, predictions and more. And its self-learning AI makes the system progressively smarter.

Smart Data Catalogue

Beside data literacy, data access is another critical barrier to analytics adoption. Data is still locked up in transactional systems, data warehouses and data lakes. It can take weeks or months for business users to extract the data for analysis and sometimes in an ungoverned manner. Empower your business with on-demand access to analytics-ready data with a shopping cart experience. Using Qlik Data Catalyst, business users get a single, go-to data marketplace to find, understand, and use any enterprise data source to gain insights. For instance, TD bank created a data-as-a-service platform with data onboarding from over 200 applications and made data accessible to thousands of users. Qlik Data Catalyst has helped the bank cut delivery times from months to days, and reduced data management costs by 40%.

The end of the year is often the busiest period for most, since everyone is trying to plan for the next year while trying to take your remaining vacation days. You will want to look for opportunities to spend your extra budget on projects that matters to the business and one that does not take months to realise its benefits. Hope these tips has provided some inspiration on how you can invest in your people by providing them with the best-in-class tools for them to make better decisions every day. Now, you can start planning your year-end shopping list for your loved ones.