Data analytics is the process of examining data sets in order to draw conclusions about the information they contain, increasingly with the aid of specialised systems and software. It is used to improve a wide range of business processes, including decision-making, risk management, and cost reduction, as well as to identify new opportunities for growth.
Data analytics can be applied to a wide range of data types, including:
- structured data,
- unstructured data,
- and semi-structured data.
There are many different approaches to data analytics e.g. descriptive analytics, diagnostic analytics, predictive analytics, and prescriptive analytics.
Main advantages of the ServiceNow Data Analytics
There are many advantages of using performance analytics for a company – here are our top 5:
- Improved decision-making: Data analytics can help a company make more informed decisions by providing insights that are not immediately apparent from raw data.
- Increased efficiency: Data analytics can help a company identify ways to streamline processes and reduce costs.
- Enhanced risk management: Data analytics can help a company identify and mitigate potential risks by providing a deeper understanding of the data.
- Improved customer experiences: Data analytics can help a company understand customer needs and preferences, leading to better products and services.
- New opportunities for growth: Data analytics can help a company identify new opportunities for growth and expansion, both within its current market and in new markets.
Overall, the use of data analytics can help a company make better decisions, operate more efficiently, and identify new opportunities for growth, all of which can contribute to improved financial performance.
A key to the successful implementation of the ServiceNow Data Analytics
To succeed with data analytics in ServiceNow, there are a few key considerations:
- Clearly define your goals: The first step in any data analytics project is to define what you’re hoping to achieve. This could include improving efficiency, reducing costs, or identifying new opportunities for growth.
- Select the right tools: ServiceNow offers a range of data analytics tools, so it’s important to choose the ones that are most appropriate for your needs.
- Clean and prepare your data: The quality of your data will have a big impact on the accuracy of your results, so it’s important to ensure that your data is clean and properly formatted before you begin your analysis.
- Analyse your data: Once you have your data prepared, you can use ServiceNow’s data analytics tools to explore and analyse it. This may involve creating visualisations, running queries, or using machine learning algorithms to identify patterns and trends.
- Communicate your results: The final step is to share your findings with the relevant stakeholders. This could involve creating reports, dashboards, or presentations to help others understand the insights you have gained from your data.
Overall, success with data analytics from ServiceNow will depend on your ability to clearly define your goals, choose the right tools, prepare your data, analyse it effectively, and communicate your results effectively.
Want to know more? Reach out and we will be happy to help you or join our upcoming webinar:
ServiceNow ITSM Pro: Performance Analytics
Understand how to get transparent, real-time visibility into service performance to proactively solve problems and accelerate your business forward.