Do you have a durable data analytics vision in place for your overall data landscape? Do you know how you would handle adding a new data source? Do you have a disaster recovery plan in place? Do you have a good plan to migrate data to a new system? If you can answer no to any of these, we can provide guidance along the way to developing a proper data strategy. There are many other questions to ask and we know how to spur thought when it comes to data.
Since you already have a data strategy in place, we can help figure out what data you have. A large percentage of data, upwards of 70% if not more, goes unused because of many reasons. The biggest reason is not knowing it's being collected. We've seen this firsthand. Gigabytes of data is collected at your company about customers that goes unmeasured. We can help figure out a use for this type of data and how it can help improve your bottom line. Process improvement is our middle name.
Every company has many data sources. Many of these data sources are believed to be completely integrated but aren’t. Is your organization's data kept in spreadsheets? Do you get an export of data from suppliers that needs to be imported? Does someone access a portal to obtain sales from your customers? All of these are examples of sources that aren't always taken into consideration for analysis and can help make your analytics that much more powerful.
Data governance is what keeps your analytics in the best shape it can be in, especially with multiple sources of data. For example, your company has two different brands it operates. You'll want a holistic view of your entire business. How do we keep everything consistent? Data governance. It keeps the sales orders aligned with state values such as OH or Ohio, but not both. That way you can measure how Ohio is doing in sales without having to look at multiple values. Let us help you solve these headaches.
Business intelligence (BI), or descriptive analytics, is where we start to turn data into information. Executing on a BI strategy is what brings the above concepts to reality. All of your data is coming together to make actionable decisions based on what you're looking to improve. Can we improve sales? Can we lower inventory levels? With the proper data anything is possible. If you haven't brought all of your data together, we can help implement an easy and transparent way to do so.
Predictive analytics allows you to explore your data for deeper insights in order to determine patterns and predict future trends. Predictive analytics extends from your current Business Intelligence (BI) investment encompassing statistical techniques such as data mining, machine learning and Artificial Intelligence (AI). These advanced analytics are pertinent to allow your company to take action resulting in optimal outcomes for your bottom line now, and in the future.
Not only do prescriptive analytics anticipate what will happen and when it will happen, but also WHY it will happen. The unique aspect about prescriptive analytics is they allow you to continually use new data to re-predict and re-prescribe. This automatically improves prediction accuracy and suggests beneficial actions resulting in better business decisions. Data generated from prescriptive analytics aids in finding the best course of action for situations your company encounters.