Why Data should be the lifeblood of your organisation?
Data should be behind every business decision you make.
When data is used effectively it empowers organisations to make decisions based on facts, trends, and statistical numbers. With data volumes growing exponentially, it’s now becoming increasingly more difficult to locate and surface the right information to be able to make better decisions about strategy and growth.
During most initial discovery conversations we are having with with customers, we uncover that many organisations are data rich and insight poor. Data is the lifeblood of every organisation but just by collecting and storing data, this isn’t enough. People at all levels of an organisation need to get better value out of their data and want to be able to use their data in the right way to make better business decisions, faster.
There are also pressures both internally and externally, such as governance and viability audits and ransomware attacks. From an organisational point of view understanding data can lead to quicker and stronger business decisions, lower costs and improved business integration.
So, how do organisations become both data and insight rich?
The data produced by every organisation is invaluable, but many find themselves unable to use it in a way that allows them to make better decisions. In years gone by the question of data usually landed with IT, however, when looking at the opportunity that data can present, the main beneficiary is usually departments that sit outside of IT and have a vested interest in tracking performance and progress KPI’s.
Typically, most organisations will have a number of legacy disparate systems for each area of the business with siloed data spread across an estate from CRM Systems, excel sheets, and finance systems. This requires reporting being extremely reliant on manual extraction and aggregation from a lean BI team. Not only is this time consuming but the lack of standardisation usually leads to a mistrust in the reports, undermining the task and the purpose of analytics in first place. To combat this and unlock the value of their data, organisations need to combine and access data in real time to analyse and make better decisions for both internal and external use.
A modern data platform can consume data in any format, from anywhere and process it in a central location so you can start generating business intelligence analysis whether you’re collating data from internal systems, virtual chatbot assistants or smart sensors.
What’s more, a modern data platform can stream data and drop it as soon as it’s finished analysing it, creating entirely fluid and constantly changing processes. As a result, you effectively get a virtualisation layer that consolidates all these different pots of data into one logical construct. And today, this is more important than ever because that’s what gives you the advanced functionality to move from reactive and predictive analytics to prescriptive analytics enabling you to direct your organisation in the direction you want it to go.
ANS has worked with a number of organisations to build and deploy a modern data platform in order to uncover and act on hidden trends in their data and improve data governance to make intelligent business decisions.
The ANS Modern Data Platform Navigator is designed to help you overcome the complexities of modernising your current data platform while demystifying the complexities of adopting cloud data services. We can help you define and build your data strategy to help unlock the potential of your data and increase its value to your organisation. Learn more about it here.
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