The roadmap towards a data-driven future means applying data analytics approaches to reinforce your strategies and maximize tools at your disposal.
Having the right resources sets you on the right foot, and supplementing it with these smart practices will keep your data initiative up and running. In this infographic, we discuss seven proactive ways on how to successfully implement data analytics in your operations.
Every business enterprise starts here. When everyone involved is well-informed, from the executives to the employees, and they know the role they play in the fulfillment of the project, you have the security that you’re all working towards one goal.
You also identify your KPIs in this step, which serves as a guide on where the initiative is supposed to head.
Weave your data together to form a narrative.
All elements in your data — visuals, texts and context — must communicate the benefits and financial returns of capitalizing in data analytics. When stakeholders understand what the insights are telling them, it fuels their interest to further participate.
Encountering unfavorable results and inconveniences are inevitable because you dig through the depths of data. But this doesn’t mean the business is performing insufficiently. These weak points often bring into light practices that are stunting the company’s progress. Uncovering such inefficiencies gives an idea of what needs to be addressed to move forward completely.
An important big data analytics approach you should keep in mind is to apply data analytics to a small part of the business first.
It’s easy to go full-scale once the initiative is proven effective, but until then, consider injecting data analytics in facets where it can be projected as a solution or where it makes a significant impact. If it works, you can begin to build momentum for the project.
Business intelligence tools serve different purposes. Choose the data analytics techniques and tools that best fit into the process you’re currently implementing or flexible enough to grow with your operations through time. Your toolkit will be useful along the way so make sure to build one wisely.
Work with your analyst to identify which bottlenecks should be addressed first. When you know which area to prioritize, you can properly delegate your time and effort to each business facet that needs your attention.
Build a BI team to breathe life and support your data initiative. Your analysts’ collective skills and expertise will be the backbone of your data-driven enterprise for the long haul.
Infused with proper planning and assets, data analytics approaches are extremely helpful in setting your course towards a data-led organization. From gleaning actionable insights to fostering data culture, you add actual value to the business and all of its parts.
Let us help you make sense of your data. D&V Philippines specializes in business analysis and reporting to aid CFOs in improving overall operational performance. You may download our guide The Rising Frontier: Harnessing The Power Of Business Analytics to know more about these solutions or you may schedule a free consultation with us at your most convenient time.