The 5 questions you need to ask about your Data Strategy
January offers an ideal opportunity for us to wipe the slate clean and start afresh, shrugging off the hangover of Christmas excess. It’s time to review our actions of the past twelve months and set resolutions to be a fitter, healthier and happier person for the next year.
But it’s a perfect time to set some new business resolutions too. Take the time to look back at how your data has been working for you and evaluate how you can improve analysis. Are you getting the right information from your business to make powerful decisions? Recent research from Gartner suggests poor data quality can cost the business financially and as more data is generated, both by business expansion and technological innovation, so too does the potential for a degradation in data quality.
Consider forthcoming changes that are on the horizon in 2018 and how you can accommodate these. Will your Business Intelligence solution be able to cope with the demands of changes in legislation, such as the GDPR, an increase in demand for access to data from within lines of business, and the emergence of new ways of processing data, such as augmented analytics? These are all questions that form the basis of a data resolution.
At AVORA we know how to make your data work for you. We challenge you to review your data strategy by focusing on the 5 important questions below.
1. Does your data strategy offer complete end-to-end data management, preparation and warehousing?
A fully hosted and managed service allows access to all the data when you need it. The solution implements data connectors that work in conjunction with existing architecture to accelerate decision making in the business.
2. How quickly can you access the raw data when you need it?
A fully extensible data strategy solution offers seamless access to all relevant data loaded into the business for the users who need it. Data users can extrapolate and interpret the data per their requirements, and even share it externally with approved users.
3. Are you able to connect and see all your data in one place? Do you have data blind spots?
Centralised, integrated data sources bring together hundreds of streams of information so users can see all the data they need in one shared location. Unstructured data can be coalesced with an unlimited data capacity. It’s simple for users to add new sources and build new reports rapidly.
4. Do you have the ability to access and share insights in real time?
An effective data strategy enables users to develop, access and securely share dashboards, reports and alerts with internal and external teams to evaluate campaigns and support decision making.
5. Is your data strategy utilising machine learning to automate and speed up analysis?
Machine learning technology detects trends, anomalies and related occurrences from the data. Automated analysis and reporting alerts help surface accelerated insights allowing users to explore the underlying reasons behind trends and changes.
Moving into 2018, many businesses will continue to reactively mine and analyse data without appraising performance or giving sufficient consideration to future data challenges. The new year represents an opportunity to improve upon the old. Having a future-proof solution in place that offers limitless data capacity and is able to adapt to user need ensures organisations will always have access to real-time insights that can drive the business forward.
AVORA’s data intelligence platform provides companies with simplified, better decision making. AVORA consolidates data sources across the organisation, enables users to seamlessly access all critical data, and our proprietary machine learning provides automated insights and reporting to drive business performance across the entire organisation.
Hopefully we’ve given you food for thought to challenge your data strategy and set some new resolutions for your business in 2018. Get in touch to find out more.