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Do You Really Own Your Data?
Databases generated by companies often hold the key to optimizations of internal processes and valuable market insights. However, many organizations struggle with the process of extracting insights that really matter for the improvement of their strategic results. How should organization unravel these strategic game changers?
Of all the data in the world, more than 90% has been collected in the last five years (IBM, 2018). Almost all companies have started to use integrated software systems, providing the opportunity to store almost all information imaginable in extensive databases. Hidden within these huge piles of data are valuable insights that can make a real difference for an organizations’ strategic decision-making. For many organizations that do not have sufficient data-experts at their disposal, how can these game changers actually be unravelled?
Often the issue lies within the complexity of the available databases. As today’s ERP systems, such as SAP, keep track of almost everything, these enormous databases contain a great deal of irrelevant information. On top of that, multiple databases often lack unambiguous structure, contain both qualitative and quantitative information interchangeably, and do not lend themselves for simple statistical formulas and calculations. Its analysis calls for advanced data analytical skills which often may not be available in-house. This lack of resources can put your organization at risk.
At Deloitte’s Business Process Solutions (BPS) we can help to avoid this risk. Our service line Technology Enabled Services (TES) offers professionals who are experts in the field of Data Analytics. They are skilled in the processes of data validation, sorting, and structuring. With the aid of tools such as Excel (VBA), SQL, Java, Python, .Net and Spotlight, our team establishes a well-organized database. Our data experts will provide the extraction of important information and insights, and also leave you with tools that allow you to merge new data and build a master database with a few simple clicks. This will result in the continuous updating of insights which helps management in optimizing business decision-making. This also applies to situations in which new data is coming in and has to be processed regularly. For example in the case of monthly delivered sales data. Instead of manually filtering the relevant data and perform separate calculations each month in order to visualize the growth and profitability of the company, our TES professionals can write a script that will perform this task this for you. Instead of taking hours of an employee’s schedule to perform the right analysis, the same can be achieved by only a click of a button. Not only does this free up a huge amount of time and resources to invest in other business activities, it also prevents human errors, resulting in data insights that are fully representative of reality.
In addition to these specific examples the possibilities within Data Analytics are endless and can be tailored to your specific company needs. Interested in finding out how? Our team can conduct a data flow assessment and engage in a dialogue about how together we can generate value for your organization.
Do you wish to go further than Data Analytics alone and do you also want to visualize your KPI’s in appealing management dashboards, to be used both internally and presentations outside your organization? Or do you want to improve your data generation by automating standard processes? Find out about our services in Business Intelligence and Robotic Process Automation.