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Through Data Visualization Towards Business Optimization
An ever-increasing number of organizations and associations involve gathering and reporting a wide range of information and data. But how can you unravel the relationships and predictive information that can make a difference for your business results? More importantly, how can you ensure that you can quickly detect red flags that help identify and prevent risks?
Visualization of Big Data
Ownership of big data is a good start, but ownership alone won’t enable your organization to win the information war. Data, in its original form, is just raw information with the potential to become knowledge. The real value lies in using these databases to create descriptive and even predictive models usable for business purposes. Doing so will allow authorized employees from all layers of your organization to easily extract the essential insights from enormous amounts of information (Big Data) and effectively apply them as part of their daily business routine. These insights can take forms of management information systems, dashboards, and reports. Besides, the right visualization of multiple performance indicators in one dashboard allows for easy comparison and the discovery of surprising relationships between business elements that otherwise would have remained unnoticed.
What are the potential difficulties with Data Visualization?
Unfortunately, many organizations do not have the essential in-house knowledge and capacity to visualize their data. Where data visualizations are being made, it is mostly in such a way that it becomes nearly impossible to discover meaningful correlations and relationships that are not already known. It has proven to be challenging to generate ‘real-time’ dashboards as filtering and sorting newly acquired data is often a time-consuming process for many organizations. Some businesses are guilty of making various reports for different business purposes, resulting in inconsistent reporting with different definitions and data interpretations. This makes it difficult to interpret these different reports’ insights and results in confusion rather than an edge over competitors.The pitfalls of inaccurate data visualization, if unaware, can cause essential insights to remain hidden within the databases. Insights that otherwise would have supported the company in determining valuable information such as market trends, budgeting, timely detection of unnecessary costs, and other ‘Red Flags.’
How can we, as Deloitte, help you with Data Visualization?
To ensure that organizations do not miss out on opportunities derived from these insights, our service offering Center of Analytics & Robotics Excellence (CARE) gives you a solution. CARE is part of Deloitte’s service line, Business Process Solutions (BPS). BPS has IT, financial, accounting/reporting, and project management experts; this gives us a better understanding of your organization’s situation and enables us to find the best solution for your business. Our CARE team has experience translating Big Data into standardized and structured reports in the form of visually appealing, easily usable dashboards. These dashboards can process real-time data, making sure your organizations’ insights remain accurate and relevant.
Our CARE experts will make sure that the way the data is visualized, Clearly reflects the purpose of underlying insights. We believe this to be a vital element of good dashboarding. For example, a graph that can be perfectly suitable for discovering correlations often proves insufficient to signal trends and vice versa. Our expertise in Data Visualization results in an ideal tool that gives you proper insight into your organization’s most relevant management information. These insights also lend themselves perfectly for commercial purposes, such as sales pitches due to their visual attractiveness.
Transform your company into a data-driven business
Are you ready to transform your business into a data-driven organization?
Do you want to gain a maximum advantage by visualizing your big data?
Does your organization require more balance between technical intelligence, insight generation, and creative design?
Our CARE experts will gladly engage in an informal dialogue to show you how their tailor-made solutions can optimize your business operations.
Our expertise reaches far beyond only Business Intelligence. Are you interested in extracting insights from data, but do you only have databases at your disposal that are extremely extensive and unstructured? We support the validation, sorting, and matching of data. Besides, we can build tailor-made software robots that fully automate repetitive processes.