Business Modeling

What is business modeling?

Business modeling is a strategic process in modern analytics that helps companies understand the relationships between their organization’s data and business objectives. This process produces business models that reflect an organization’s business processes and logic. With them, organizations can better identify opportunities, then prepare strategies to achieve competitive advantages.

It does not require a specific data structure, database, or dataset. Rather, it is almost always driven by data queries or query fragments associated with advanced analytics. They are usually expressed in an employee-centric tool, such as a spreadsheet.

Why is business modeling important?

Business modeling extends the value of data models and analytic models. This enables decision-makers to easily incorporate real-time data within the more fluid process of strategic planning and execution. The business models it produces help stakeholders make more informed and reliable decisions that impact the direction and success of their organizations. They also create a common strategic “language” within an organization, which leads to more effective communication and collaboration across teams, departments, and stakeholders.

Key benefits:

• Improved visibility into activities and data sets
• Enhanced understanding of business objectives and strategies
• Increased accuracy in forecasting potential impacts on operations
• Greater ability to identify opportunities or threats in changing market conditions

How can Pyramid Analytics help?

Pyramid Analytics, a Decision Intelligence Platform for modern enterprises, supports business modeling via its Tabulate module—an in-platform, browser-based virtual spreadsheet powered by live data. Tabulate helps employees of all backgrounds use query mashups, multi-query visualizations, and flexible formatting to build them within the platform. With the support of interactive dashboards and formatted reports, employees can embed these models in presentations or share them with other team members, departments, and stakeholders within the organization.