data science

The New Age Of Business Intelligence And Data Visualisation
The New Age Of Business Intelligence And Data Visualisation 1024 512 Jon Hogg

Businesses have always amassed data, however the rate at which it is created has grown exponentially. Globally, we output 2.5 quintillion (that’s 18 zeros) bytes of data every day. Estimates suggest that 90 percent of the total data in the world was created in the last two years.

There are now myriad electronic devices, all connected to one another in an ever-expanding network of data generation. However, for all the data amassed, organisations are barely scratching the surface of what it is capable of doing and translating this into real commercial value.

In short, there is a vast amount of data at your fingertips, just waiting to be utilised.

Data Visualisation for Any Business

Until recently, business intelligence (BI) solutions were only available to global organisations with vast budgets at their disposal. One of the key barriers to entry was the ability to interpret these immense datasets that businesses were acquiring. As inter-connectivity has come to the fore, so too have BI solutions that answer the question of ‘what can I actually learn from this data?’

Tools such as Microsoft’s Power BI have bridged this gap, opening data visualisation up to more businesses than ever before. Businesses and organisations of all sizes and industries can now take advantage of the value in data visualisation and business intelligence. It has helped to democratise data, enabling powerful data analysis and decision making in a fast, accessible and easy-to-use platform.

Business Intelligence to Inform Decision Making

Power BI provides the tools to not only assimilate data from vast sources, but to interpret it as well. This is a crucial factor for executives, who can now immediately examine the data that is relevant to them and draw immediate conclusions. This leads to more informed and responsive decision making across a business, driven by actionable data insights.

Today, every business is a data-driven business. Utilising this data properly could create tremendous value for businesses. From greater market understanding, to more effective trend forecasting, the answers are now there for anyone to see. Powerful analysis can link the dots between data and performance, revealing new insight and opportunities.

Customisable Data Visualisation for Businesses

More importantly, platforms such as Power BI are customisable to the needs of a business. All businesses have different requirements and needs from their data, so a customisable and interactive platform is essential. It can help bridge and connect data silos from marketing, finance and sales, breaking complex data into clear insight across all departments and functions.

Even now, BI solutions and their applications are developing at a rapid rate. That’s why the BI market has exploded and is set to grow to a value of $22.8 billion by the end of this decade. It will become the cornerstone of high-level strategy and decision making, which was once impenetrable without vast budgets and specialised resource.

If you’re interested in business data solutions and would like to discuss your business requirements, talk to us today or call us on 0203 281 7342.

2018 – The Year of Data Visualisation (across every department)
2018 – The Year of Data Visualisation (across every department) 1024 432 Anthony Peake

Departments across companies of every size have been screaming out for better ways to visualise the data they have into real actionable insight. However, until today, the IT teams have struggled to help each line of business to deliver their own dashboards easily. Now with advanced, yet low-cost tools like Microsoft PowerBI it has never been easier to build interactive dashboards and finally deliver timely management information that is helping companies to deliver real-time insight for Sales, Marketing, Finance, HR, Operations and IT Management.

Making data more engaging, internally and externally.

At Software Solved, we are called upon by the smallest and the largest organisations to help them not only bring their data to life internally, but to also make this highly engaging data available via customer portals so their customers, resellers, partners and suppliers can build much closer and interactive relationships. It is based on this increasing demand, and the fact that these tools are becoming increasingly easy to use and cost are rapidly lowering that I predict that 2018 will be the year for Data Visualisation across every department.

In a recent survey that Software Solved undertook in the Insurance Industry, we found that 78 of insurance companies stated that sharing real-time data with customers and brokers was either Important or Very Important, and yet when asked how advanced these Insurers are today with delivering real-time data, only 22 felt they were Good or Very Good.

Increasingly, sharing real-time data internally across your Sales, Marketing, Finance, HR, Operations and IT, and externally with your customers, resellers and suppliers is becoming a huge competitive edge that I believe no business will be able to afford to ignore in 2018.

So, who should be looking into Data Visualisation in your company?

Head of Finance

Finance usually get good data from their accounts systems, but have lots of departments requesting data and PowerBI would be a great tool for them to make the departments have self-service (drawing on data from multiple systems / spreadsheets)

Head of Sales

No matter which CRM system you use, sales management very rarely have good dashboards showing leads, pipeline funnels, proposals sent, targets, performance and upsell/cross-sell opportunities. Therefore, PowerBI will be a great tool for you to overlay on Salesforce, Dynamics, Sugar or whatever the CRM or sales tools

Head of Marketing

Marketing would kill to be able to demonstrate the ROI from marketing campaigns and also to control sales and ensure all their wonderful leads are properly followed up and the results into pipeline can be tracked.

They also would kill to know which campaign, to which industry, hit with which target demographic, so that in future you can target your campaigns better and manage the marketing budget more effectively. Tools like Microsoft PowerBI are ideal for this.

Head of Operations

Tracking manufacturing, stock levels, spares and workshop activities involves so many different supply chain and operations systems. The ability to get visibility across all these processes and then to deliver increased operational efficiency and greater customer service, should make Data Visualisation a must for Operations team.

Head of IT

IT not only needs dashboards for themselves, to be able to track server up-times, system patches, security vulnerabilities and roster staff, but also are key influencers in delivering systems and dashboards for every other department. Therefore, Data Visualisation should become a key tool for IT teams in every industry.

Head of HR

Tracking employee sickness, holidays, training as well as issues and advancement is key to HR management and is an ideal opportunity for using Data Visualisation. Delivering dashboards of recruitment campaigns to each line manager as well as tracking the effectiveness of university undergrad recruitment programmes and apprenticeships will deliver increased efficiency and effectiveness to the HR function and can be delivered quickly and inexpensively with tools like Microsoft PowerBI.

If you’d like to know more about Data Visualisation, and PowerBI in particular, you can find out more by  talking to us today.