Influence decisions and drive change
Would you like to create real business value from all that data and information you receive on a daily basis?
What you need are actionable insights from data and information.
Back in 2016, Forrester reported that 74% of businesses said they wanted to be “data-driven,” but only 29% are actually successful at connecting analytics to action.
Your business may well be drowning in data, and struggling to connect the dots despite being surrounded by more information than ever before.
So What? is a question I have heard many times from senior executives, when presented with yet another lengthy report or dashboard.
These typically provide views of what HAS happened; usage metrics, key performance indicators, sales over time, and so on.
Reports and dashboards can inform – but information alone is not insight.
More data is not the answer. Neither are more reports and dashboards
Data and information provide the foundations, but actionable insights are generated by analysing information, applying knowledge and drawing conclusions.
That’s the value add.
Many businesses are getting to information about what HAS happened. By improving their data literacy (the ability to read, work with, analyse and argue with data), businesses can maximise all of their data, information and knowledge to highlight:
- what is likely to happen if things continue as they are
- what to change to affect a different outcome – where the real power lies
Then will they be able to provide their decision-makers with actionable insight.