Tag: #dataanalytics

Mastering & Leveraging Business Intelligence

Posted on by annaktaylor
big data with colorful graphic

 

While a broad term, Business Intelligence (BI) has a wide scope of significance involving data, processes, performance, and measurements. BI is the means and infrastructure used to aggregate, maintain, and analyze data to develop business strategies and operational efficiencies.

Leaders utilize BI to improve decision-making and target activities.

BI answers monetization questions, such as:

  • What happened?
  • Where and when did it happen?
  • How often?
  • What is the trend?
  • What should we do based on what happened?
  • What potential optimization can be made?
  • What action can we take to boost performance?

There are a range of data tools that fall under BI including mining, analytics, visualization, benchmarking, reporting, warehousing, and technology-driven planning and processes.

In all instances, data must be prepared before being applied to a tool effectively. 

Data Readiness

  • Extracting and Provisioning
  • Compiling and Cleansing
  • Standardizing and Formatting
  • Parsing and Structuring
  • Eliminating Errors or Anomalies
  • Grouping and Clustering
  • Storing and Securing

 

Continue reading “Mastering & Leveraging Business Intelligence” →

Mastering the Deluge of Data

Posted on by annaktaylor
digital strategy and innovation

 

Attentive, attuned, and analytically inspired digital leaders closely monitor sales and cost metrics, qualitative and quantitative stats, and KPIs (Key Performance Indicators). More broadly referred to as ‘data’.

There are known challenges with data collection, preparation, and validation including:

  • Data overload
  • Data stability
  • Assemble and prioritization data
  • Preventing omission of key data points
  • Organization of data to make it usable
  • Taking advantage of data visualization for optimal consumption
  • Gaining insights that can be tested
  • Craft a roadmap for maximum output based on data
  • Pivoting within a plan or shifting an objective due to data outcomes

Prevailing strategies are architected using business intelligence – this is owned data, sourced from customers, sales, performance, operations, marketing, social media, and industry trends.

Types of Data

Structured, Semi-Structured, and Unstructured

Transactional

Hierarchical and Ordered

Text and Meta

Qualitative and Quantitative

The “V” elements of data are variety, volume, value, velocity, veracity, and variability.   When handling data, pay attention to each of these characteristics.

[Step 1]  Utilize a Powerful Digital Dashboard

Creating an impactful plan of action starts with data visualization from charts, pies, tables, and other graphic representations of data.

When selecting a dashboard tool, here is a checklist of key features:

  • User-friendly, high performing interface
  • Intuitive navigation menu and filters
  • Contemporary cards, charts, and forms
  • Wide variety of pre-set templates
  • Multiple layout options
  • Fast-loading import / export feature (multi-file upload is a bonus)
  • Customized views for different types of users
  • Easy widgets to add new tables and elements to a page
  • Tooltips, bookmarks, notifications, and alerts
  • Calendar, email, and to-do list features
  • Data authentication and identification of errors
  • Editing tools
  • Suite of reports with automation capability
  • Color, font, and background controls
  • Interactive with popular platforms and plugins
  • Cross-browser compatible
  • Mobile friendly and fully responsive

Continue reading “Mastering the Deluge of Data” →