Data is utilised to lead the decision-making process, utilising it properly creates clear advantages. Insights allow you to quickly make the best decisions for the business and predict future trends so you stay ahead of the game. This is why there are so many advantages, so much so we have previously spoken about some key areas where an organisation can see them. So, here are five more key advantages:
1. Confident decision-making
Your data is presented in automated visual dashboards, providing a current picture of your business. Available in the cloud so you have access any time, from anywhere, you are always prepared to make a quick, data-driven decision.
2. Save time
Insights are gathered and presented to you, saving time spent compiling and understanding reports. Automated reporting and analysis frees up your time to focus on strategy and growing your business.
3. Consistency across the organisation
Every department becomes data-driven, working from one single source of truth. This removes silos and enables real teamwork to drive your business forward.
4. Combine human expertise with factual data
The beauty of data is that it does not replace the human element, but it enhances it. Your skilled staff assess insights and take action based on the data plus their strategic thinking.
5. Enhanced business performance!
A data-driven organisation benefits across the board with data connectivity – increased efficiency and productivity, improved KPI’s, and more focus on action instead of analyzing. You have the ability to quickly adapt to changing environments.
If your business isn’t effectively using data, you are falling behind. Research shows that relying on data makes decision-making five times faster for businesses. A 2021 survey showed that 46% of businesses are currently using data to drive their business with a Decision Intelligence solution, as Covid caused an acceleration in adoption over the past year. If this isn’t you, it’s your competition.
Getting started with data
To be an effective data-driven organisation, a solid data foundation is critical. If the data you start with is inaccurate, how can you expect to make the best decisions?
A Decision Intelligence solution starts with building a data foundation from quality data. The data is then mapped and stored in a data warehouse where queries are run to build automated reports. Reports are delivered directly to the user, and can be accessed anytime from anywhere with an internet connection.
Toustone sets this all up for you with minimal disruption to operations. You don’t have to understand how it all works. We’ll work with you to understand your organisation’s needs and provide a solution.
Empowering your staff with reliable, accessible data means everyone can make confident, consistent decisions. You control who has access to what, so your staff only sees what they need to see. This protects the security of your data while allowing each department to focus on what is relevant to them.
Any organisation stands to benefit from being data-driven. Every department can rely on data, from finance to customer service, to make the best decisions.
To get your business started on the path to being data-driven, contact our team at Toustone today.