Data Strategy
An Explanation of Data Strategy
Data Strategy brings agnostic technologies and techniques together to align what often seem like IT topics to business needs.
November 11, 2023
BUSINESS INTELLIGENCE & DASHBOARDS
Business decision-makers need timely information on operations. Business intelligence dashboards and reports (BI) can automate and present this information in a clear, up-to-date, and accessible manner.
Ready to have a conversation about Business Intelligence & Dashboards with our team?
BENEFITS OF BUSINESS INTELLIGENCE (BI)
Visualize Data
Data that is presented well visually can be easily consumed to support decision-making. Studies show most learning is visual and that the brain processes visual information at 60,000 times the rate of non-visual information. For most situations and decision-makers, charts and graphs are generally superior to tables and raw numbers.
Pull Real-Time Data
For systems that generate data in real-time, automated business intelligence dashboard updates can improve decision quality over stakeholders needing to wait on reports to be compiled manually. Designing the right data procurement processes and BI solutions is key to making real-time data availability actionable.
Customize and Interact With Data
Having data in a format that’s not easily understandable or accessible is almost like not having any data at all. The ability to filter and drill deeper into curated data sets in a flexible manner allows decision-makers to easily find insights that meet their information needs. The interactive nature of BI, combined with well-curated data procurement, is key to making data useful for decisioning, thus unlocking your data’s inherent value.
Accurate Data Analysis
Although dashboards are often quite visually appealing, their pleasing aesthetics can potentially lend unwarranted credibility to the underlying data’s accuracy. Analyzing bad data can lead to bad decisions and create even worse problems for organizations. This is why managing data quality is so important as part of an effective BI solution and organizational data capture in general. Good data management practices upstream of BI are an important capability to develop in tandem with your BI solution.
Why You Should Employ Information Management Tools
Data is strongly tied to an organization’s strategic direction because your strategy should guide what data you focus on. However, data should also be leveraged to inform strategic decisions. When managed well, this virtuous cycle of information can fuel innovation and competitive advantage.
Competing on data requires a deliberate management focus on data utility and accessibility to drive sound decision-making. This management focus requires strategic consideration of the right metrics and incentive structures to encourage behaviors that will drive performance.
Business Intelligence Dashboards From Keller Schroeder
Keller Schroeder can work with your organization to implement BI solutions that will deliver important information in a clear, accessible, up-to-date manner, allowing decision-makers to make critical decisions at a glance and organizations to innovate toward competitive advantage.
Keller Schroeder has experience helping numerous enterprises perform valuable analyses and determining strategic direction. For Evansville Water and Sewer Utility (EWSU), a provider of water and sewer services to the city of Evansville, Indiana, Keller Schroeder procured data from multiple sources and developed business intelligence dashboards to inform key decisions. One of the challenges was to integrate data from disparate systems and clean it for streamlined and improved reporting. Keller Schroeder also helped EWSU develop a high-value analytics use-case portfolio.
Keller Schroeder facilitated an Innovation Workshop with EWSU executives to identify opportunities and align their analytics priorities using a portfolio approach. A key outcome was the decision to have Keller Schroeder design and build EWSU’s enterprise data warehouse. Keller Schroeder also implemented a TIBCO Connected Cloud middleware solution on Microsoft Azure, then developed BI capabilities using TIBCO Spotfire. In the end, Keller Schroeder was able to integrate data from multiple systems, improve reporting, and identify many additional potential use cases across multiple EWSU departments.
Contact Keller Schroeder for Business Intelligence & Dashboards
Keller Schroeder’s client engagements implementing BI dashboard solutions have made positive impacts on clients’ operations and bottom lines. Keller Schroeder can quickly assess the value that business intelligence solutions can deliver for your business. Contact us to partner on implementing successful data strategies for your organization.
ADDITIONAL DATA STRATEGY SERVICES & TOPICS
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