Data Analytics is the key to success when it comes to transforming your business
Democratizing data usage is essential for this new customer-focused culture. Do your employees have the skills and tools they need to analyse and draw the conclusions they need for their day-to-day decision making?
When an organisation digitizes its systems, the data generated is of utmost importance. Aspects such as Big Data together with Business Intelligence are the key to aligning the company’s goals with an increase in sales, with a view to improving business prospects. If we change from the business sector to the public administrations, for example, we only have to change “customers” for “citizens”, “profits” for “services” and, in the end, we would be talking about the same things.
The in-depth study of customer data allows you to know where you stand and what you need to improve. The idea is to align the various departments of the organisation so that they all become more flexible, to align goals so that they can respond rapidly to the changing needs of their respective target audiences.
A general overview of customers, combining structured and unstructured information that is also added in real time, will be the first step in offering connected and consistent experiences across multiple channels and offered by all the departments with which they interact.
Easier tools due to a lack of professionals
According to a recent survey by the International School of Technology, Ironkack, 80% of Spanish businesses are requesting staff trained in Data Analytics, and it cites organisations from all sectors, such as BBVA, ING, MásMovil, Next Technologies, Orange, or Ryanair. And this phenomenon is not limited to Spain: it is happening globally. According to the consultancy firm McKinsey, Germany alone is lacking 95,000 data experts.
In 2012, a survey titled Peer Research of Big Data Analytics by Intel, involving more than 200 IT experts, revealed that companies and executives felt that Big Data was one of the main priorities for businesses. Even so, over the years, the shortage persists, while data is growing exponentially.
How can we solve this shortage? Regardless of the desirability of recruiting data experts, such as CDOs (Chief Data Officer) or below, what is important is to provide all users with the tools that allow them to access information and that require simple learning processes, free from complications; what is generally known as data democratization. Without these tools and without the timely availability of information on any device and at any place, it will be impossible to effect the cultural change that this new customer and data focussed business model requires.
And let’s not forget regulatory compliance
The use of information without control is not a sensible approach either for the purposes of analysing it or from a security standpoint. More so when, a few weeks ago, the EU General Data Protection Regulation (GDPR) came into force. This new regulation requires us to be even more careful. It focuses precisely on the prohibition of analysing and collecting data without the express consent of each individual citizen and it also affects the storage of data, anonymity, and the deletion of the data.
As experts in Business Intelligence, we can help you in all these processes to transform your business because we have the corporate and technical knowledge, backed by solutions like Tableau that facilitate access to data and that quickly and intuitively generate all kinds of reports and interactive dashboards.