Data Analytics

Leverage Data with Confidence

Collecting the right data and interpreting it relative to your industry and goals can give you a significant competitive advantage. While many organizations collect data, they often don’t see a high return on their investments because they lack the culture or the technical infrastructure needed for data-driven decision making.

The Challenges Organizations Face

Here are some characteristics of organizations that lack proper data infrastructure:

  • High levels of manual effort spent producing the same reports every period
  • Disparate data sources maintained by multiple owners and stored in various locations
  • Inconsistently defined KPIs and metrics

These issues can result in negative business consequences:

  • Duplicated efforts in preparing reports
  • Difficulty interpreting reports
  • Decisions made on misinformation
  • Money spent collecting data is wasted
  • Strategic decisions made on gut feelings in the absence of sufficient data analysis

Transitioning to a Data-Driven Organization

To leverage data effectively, companies often need to adopt a new approach. By taking a holistic look at your organization and its goals, we work with you to transition to a data-driven organization that uses accurate data and sound analysis to inform all business decisions and processes.

This involves five foundational components:

  • Data Infrastructure: The collection of systems, tools, and processes enable your organization to access data.
  • Curated Information: Data is standardized and uniform so it can be understood across your organization; information is complete, accurate, and reliable.
  • Intelligent Insights: Data is presented with thoughtful interpretation that gives clear guidance on what will likely happen if certain decisions are made.
  • Data Culture: At all levels, the organization is committed to using data to drive all strategic actions.
  • Evidence-Based Decisions & Actions: Whenever possible, decisions are corroborated by analysis and tests of relevant data points.

How It Works

Our Data Strategy and Analytics Assessment reviews critical factors to understand how your organization is performing on each of the five foundational components. We work to gain a thorough understanding of your company’s practices and help you identify strengths, risks, and opportunities for improvement in your data governance model.

After the review stage, we’ll work with you to develop and implement a strategy for achieving your data goals and increase your return on investments in business intelligence.

Consulting Areas

Insights

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