Data Analytics: Make Better Decisions
Data is the currency of the 21st century. And data analytics is how we harness the power of data.
Today, all organizations are amassing data: data on customers, services, processes, business performance, finances, internet-of-things devices … and the list goes on and on. Decisions that were once made by team members’ experiences or “gut feeling” are now made by hard data. But the problem with data is that organizations often don’t know what to do with it, how to organize it, or how to interpret it once they have it.
Data analytics is the process of data aggregation, analysis, and reporting. Organizations use data to find trends and make educated, science-backed decisions. RoboSource has served clients in industries as varied as healthcare to collegiate sports to human resources and recruiting, creating tailored solutions that help organizations use data in meaningful ways.
“Torture the data, and it will confess to anything.”
The Challenges with Data Analytics
An estimated 63% of organizations fail to gain insight from data that’s been gathered. Here are challenges that face organizations regarding data analytics:
Lack of Data Insight
Businesses have increasing amounts of data, coming from hundreds of sources. But that data can be overwhelming if the organization doesn’t know what data it has and how to drill down to get what they need from it. Data analytics and management is needed to make data meaningful and develop an effective data strategy.
Selecting the Right Tool
There are many data analytics tools on the market, and it’s difficult for organizations to know which tool is right for what they need to do. Using the wrong tool can end up wasting time, money, and effort for the organization. And most tools on the market require at least some specialized skills or training.
Data can be coming in from hundreds of locations for a single organization, and the format for reports from each source may vary. Being able to analyze data across sources means combining all of the data into one place. Doing this manually takes massive amounts of time and makes the data unreliable. RoboSource can provide data science and data integration services to keep all of your company’s data conveniently in one location.
Storing data can open any organization up to potential risks with regard to privacy and security. This can be a terrifying challenge, as unprotected data is an easy entry point for computer hackers.
Low Data Quality
Data errors and duplication can result in monetary losses and lost productivity time for any organization. Automation and centralization of processes increase data accuracy. Data cleansing uses artificial intelligence to reduce duplication and inconsistency.
How RoboSource Can Help with Data Analytics
For small- to medium-sized companies that don’t have available data and analytics services or resources in-house, Analytics-as-a-Service is a great option. Analytics-as-a-Service provides access to data analytics software and tools through the Cloud, with payment coming monthly, rather than the large up-front or per-user costs you might see with software solutions. No expensive in-house expert is needed!
Data Analytics Consulting
Sometimes, organizations need expert advice on collecting, securing, or interpreting their data. Bring in a data analytics consultant to help you find areas of vulnerability and help ensure that your data is being used in a way that makes the organization more efficient. A consultant can also help you find areas that aren’t efficient or could be automated.
Data management is all about collecting and using data in a secure, efficient way. Data should be used to help organizations make decisions and take actions that maximize benefit. A RoboSource data analytics consultant can help your organization firm up its master data management strategy.
Once an organization’s data is being managed appropriately, the next step is to make sure it can be consumed in an easy-to-access and easy-to-understand format. RoboSource uses Microsoft Power BI to slice and dice data in ways that are most useful to the organization. Let us build a dashboard that includes charts and graphs representing your data, updated as often as makes sense to your team.
Automating analytics is the process of involving software and/or software bots to handle analytical tasks, rather than relying on human team members. Automation can help you gather more (and cleaner) data, analyze that data in near real-time, and keep dashboards up to date. With automation, data analytics can be done 24 hours a day, even during holidays, time off, or breaks.
Contact RoboSource for Data Management Services
Data is only beneficial if your company knows how to properly organize and interpret it. If your company needs help maximizing and managing its data, contact the professionals at RoboSource. Contact us today to set up an appointment for a free consultation.