7 Ideas for your Data and Analytics Strategy
10 May, 2022
Chief Sales Officer: Sales and Marketing
at Decision Inc. Group
Data and analytics are becoming more and more important in the business world. As technology advances, we are able to collect and store more data than ever before. This data can be used to improve our understanding of what is happening in our businesses and how we can improve our performance. Analytics tools can help us make sense of all this data and see what trends are emerging. By using data and analytics, businesses can make better decisions, boost their efficiency, and stay ahead of the competition.
1. Select the best technology to accelerate your data journey
The data journey can be a long and difficult one, full of twists and turns. But with the right technology in place, it can be a smooth and speedy process. The first step is to identify the data that is most important to your business. Once you have a clear understanding of your data needs, you can choose the technology that will best meet those needs. There are a variety of options available, from data warehouses to data lakes, and each has its own strengths and weaknesses. The key is to select the option that will best help you achieve your business goals. With the right technology in place, you can accelerate your data journey and get the insights you need to make better business decisions.
2. Enabling data literacy and building the workforce
A recent study by the Harvard Business Review found that only 33% of employees feel they have the data literacy skills they need to do their jobs effectively. Data literacy is the ability to read, work with, and understand data. It’s an essential skill in today’s economy, and yet many workers feel ill-equipped to deal with the increasing volume and complexity of data.
There are a number of reasons for this lack of data literacy:
- First, schools often don’t teach data literacy skills.
- Second, even if workers have the necessary skills, they may not have the opportunity to use them on the job.
- And third, companies often don’t invest in training their employees in data literacy.
Fortunately, there are a number of ways to address this problem. One is to provide more data literacy training in schools. Another is to create opportunities for workers to use their data literacy skills on the job. And finally, companies can invest in training their employees in data literacy. By taking these steps, we can enable workers to thrive in the economy of the future.
3. How do I move my analytics to Power BI?
If you’re like most people, you probably use Excel to do your data analytics. It’s a great programme, but it has its limitations. Power BI is a tool that was designed specifically for data analytics, and it offers a lot of advantages over Excel. But how do you move your analytics from Excel to Power BI?
There are a few different approaches you can take. One is to simply start using Power BI instead of Excel for your data analytics. This approach has the advantage of being very straightforward. However, it can be difficult to learn how to use Power BI if you’re used to using Excel.
Another approach is to export your data from Excel into Power BI. This approach can be slightly more difficult, but it has the advantage of allowing you to continue using Excel for other tasks while you learn how to use Power BI.
Finally, you can use a hybrid approach, which combines the two methods. With this approach, you would continue to use Excel for some tasks and use Power BI for others. For example, you might use Excel for exploratory data analysis and then switch to Power BI when you want to create visualisations or perform more complex analyses.
4. Rebuilding the data platform in the cloud
The data platform is the backbone of the company’s information infrastructure. It stores and manages all of the company’s data, and makes it available to applications and users. The platform must be highly scalable, highly available, and easy to manage. In the past, the platform was built on-premises, using physical servers and storage arrays. However, as the company grows, it becomes clear that the on-premises approach is no longer feasible. The company then has to decide to rebuild the data platform in the cloud. The cloud offers a number of advantages, including infinite scalability, high availability, and pay-as-you-go pricing.
In addition, the cloud provides a number of features that are not available on-premise, such as data encryption and disaster recovery. Companies are currently in the process of migrating data to the cloud, and expect to have the new platform up and running effectively.
5. Decision Inc.’s expert consulting services
Decision Inc. is a world-renowned consulting firm that provides expert services to businesses of all sizes. From start-ups to multi-national corporations, our team of consultants has the experience and knowledge to help your business grow and succeed. We offer a wide range of services, including market research, competitive analysis, financial modelling, and strategy development. Our team takes a customised approach to each project, ensuring that we deliver the best possible results for our clients. Contact us today to learn more about how we can help your business achieve its goals.
6. Implementing analytics workloads
As organisations continue to generate more and more data, the need for effective analytics tools has never been greater. However, implementing analytics workloads can be a challenge. Firstly, it is important to have a clear understanding of the organisation’s data needs. What types of data are being generated, and what insights are needed? Once this is understood, it is possible to select the right type of analytics tool for the job. There are a number of different platforms available, each with its own strengths and weaknesses. It is important to select a platform that will be able to support the organisation’s data needs now and in the future. Secondly, it is necessary to have the infrastructure in place to support the chosen platform.
This includes ensuring that there is enough storage capacity and computing power available. Thirdly, it is important to have the right people on board. Analytics is an interdisciplinary field, requiring expertise in areas such as statistics, computer science, and business. It is important to have team members with the necessary skills and experience in place before starting an analytics project. By taking these factors into account, organisations can increase their chances of success when implementing analytics workloads.
7. Artificial Intelligence and Machine Learning
These days, it seems like everyone is talking about artificial intelligence (AI) and machine learning (ML). And for good reason – these technologies have the potential to transform the way we live and work. But what does that actually mean? For businesses, leveraging AI and ML can create new opportunities for growth and efficiency. For example, by automating repetitive tasks or analysing data to identify trends, businesses can free up resources to focus on more strategic initiatives.
And by creating personalised experiences for customers or employees, businesses can create deeper relationships and build loyalty. In a world where speed and agility are key to success, leveraging AI and ML can give businesses the edge they need to stay ahead of the competition.
Decision Inc. Pursuit of Progress
Decision Inc. helps organisations develop and deliver the Technology and Digital Operating Model to support their strategy. We create the capability for clients to innovate and compete by connecting the technologies, platforms and data they need to thrive in the Modern Era.
Decision Inc. brings a deep business and technology understanding and provides functional insights, embedded in the technology platforms of the industry, to help clients make an impact. We help the best businesses in the world to power their business, enable their people and accelerate digital progress.