There was a time when Executives wanted their management analysts or Finance team to build a certain set of reports for them on a daily/weekly/monthly frequencies. These reports carried certain standard metrics that helped them understand the overall health of the organisation. Things like Payables, Receivables, Sales, Expenses, production quantities, featured on that prized list of reports. Executives, known for their capability of having the figures on their fingertips quickly used "get" where they are heading.
Then things changed suddenly. Well, not as in overnight. But in a relatively quick pace which is faster than anticipated. I tend to believe that no one actually saw this change coming or even foresaw the kind of impact it would have on the way businesses are conducted.
Suddenly what a random person wrote on social media about your product or service miles away started to have a near real-time impact on your sales and all of a sudden what was smooth supply chain got choked because of accumulating inventory levels at the warehouses. No one knew how quickly the entire thing panned about. And more importantly no one was prepared to take necessary action because they weren't confident whether their actions are really backed by reliable data.
Data coming in from multiple sources needs to be tied together to make sense and actionable. In an inspiring example, Volkswagen combined customer data coming from dealer management systems with vehicle data and mashed it up with data from Social media and qualitative notes taken by technicians and designed marketing campaigns to bring more customer to dealers in preemptive service. This increased customer satisfaction and drove the service revenue for their dealers. (Know more here)
A robust analytics platform in today's world is no longer a "nice to have". It is mission-critical. Everyone in the organisation needs to have the data that they are responsible to look at and at the same time everyone should have a single platform from where they access this data. The days of silos and spreadsheets are numbered and organisations are realising this fast.
Everyone has a story to tell in the context of the data. That is where action crops from. Following an information scent that is triggered by a possible anomaly, sifting through massive amounts of data from various sources the information explorer tracks where the origins lie and share those insights with his fellow travellers in a matter of a story that is not only easily consumable but highly enriching. The story that triggers an action that is strongly backed by reliable governed data is what anyone wants. For instance, new-age visualisation solutions like Qlik Sense now offer this precise capability of stitching the insights into a compelling story that will prompt action. Watch this video to learn more
From the time where static reports ruled the roost to the days where story telling becoming the most reliable way to drive action, we truly have come a long way in a short span of time. In hindsight it just seems so Natural.
Then things changed suddenly. Well, not as in overnight. But in a relatively quick pace which is faster than anticipated. I tend to believe that no one actually saw this change coming or even foresaw the kind of impact it would have on the way businesses are conducted.
Suddenly what a random person wrote on social media about your product or service miles away started to have a near real-time impact on your sales and all of a sudden what was smooth supply chain got choked because of accumulating inventory levels at the warehouses. No one knew how quickly the entire thing panned about. And more importantly no one was prepared to take necessary action because they weren't confident whether their actions are really backed by reliable data.
Data coming in from multiple sources needs to be tied together to make sense and actionable. In an inspiring example, Volkswagen combined customer data coming from dealer management systems with vehicle data and mashed it up with data from Social media and qualitative notes taken by technicians and designed marketing campaigns to bring more customer to dealers in preemptive service. This increased customer satisfaction and drove the service revenue for their dealers. (Know more here)
A robust analytics platform in today's world is no longer a "nice to have". It is mission-critical. Everyone in the organisation needs to have the data that they are responsible to look at and at the same time everyone should have a single platform from where they access this data. The days of silos and spreadsheets are numbered and organisations are realising this fast.
Everyone has a story to tell in the context of the data. That is where action crops from. Following an information scent that is triggered by a possible anomaly, sifting through massive amounts of data from various sources the information explorer tracks where the origins lie and share those insights with his fellow travellers in a matter of a story that is not only easily consumable but highly enriching. The story that triggers an action that is strongly backed by reliable governed data is what anyone wants. For instance, new-age visualisation solutions like Qlik Sense now offer this precise capability of stitching the insights into a compelling story that will prompt action. Watch this video to learn more
From the time where static reports ruled the roost to the days where story telling becoming the most reliable way to drive action, we truly have come a long way in a short span of time. In hindsight it just seems so Natural.
