Press release: How exciting is your financial data? (It depends who you ask)
Three steps to making your business data more exciting and useful.
What makes data 'exciting’?
You could say it’s what the data can tell you. You could say what it can tell you depends on how well whoever’s listening can hear what it’s saying.
Typically folks who find data ‘exciting’ are the data scientists with niche skills; the folks paid a small fortune to turn their excitement for data into interpretations that bring leaps of profitability.
What if anyone with a stake in business performance could get excited about business data, without the PhD in data science?
Answering those kinds of ‘what ifs’ has been central to how Enterpriseworx encourages clients to think about their data utility; as something to be appreciated and maximised by anyone, without a rare passion for data.
The three steps to making your business data more exciting (and useful)
Part of the reason only specialised remits see the charismatic side of business data is the decades-long legacy relationship business data has had with Excel spreadsheets.
You won’t excel with Excel
Because Excel has dominated for so long, data literacy has been a specialism of those trained in the most advanced arts of Excel.
Even with the most robust Excel skills, capturing full business-data utility is limited by Excel’s lack of computational power and flexibility.
The first step to unlocking your business-data excitement is to make the conscious decision to set your data free from the silos and confines of endless Excel spreadsheets scattered across endless locations.
The second step is to combine all of that data under a single virtual roof where it can speak to itself and to you in more powerful ways.
That virtual space, where your data can play freely and create new business-performance potential is your data warehouse.
Once you have a data warehouse at your disposal—of consolidated, purposeful data with pre-set schema, you need to deploy the tools and interfaces able to retrieve, interpret and analyse. In other words, you need your Business Intelligence interface.
Taking your data on the ‘data-to-decisions’ journey
The three steps that combine to make your business-performance data actually exciting make up your data-to-decisions journey.
Completing that journey means knowing what destination you’re currently at, before applying the right approach to arriving at the next destination.
That might mean undertaking any of the following projects that Enterpriseworx can consult with you on and implement.
If your current data landscape is still without real purpose and definition—perhaps with repositories of inert Excel data that can’t tell you much individually—bringing excitement and utility to that data could require a preparatory phase of data management.
If that’s where you’re at on your data-to-decisions journey, EnterpriseWorx can help with the first phase of managing and migrating your data into your data warehouse.
If you’re at the stage of your data-to-decisions journey where you’ve already created your data warehouse, but lack the tools and expertise to find the exciting business-performance lessons lurking inside it, then you need a BI interface.
Even if you’ve progressed far along your data-to-decisions journey, with purposeful, intelligent, we’ll-managed data giving you big-picture strategic insight, having a strategic partner help you sharpen that insight can go a long way.
We work with global organisations in commerce, retail and finance to help them push the data-to-decisions further and further by discovering ever more innovative ways of interpreting financial-performance data.
Whether you’re just starting out or are far along your data-to-decisions path, speak with us and we’ll explain in detail how we can take your data and business-performance journey to new places.