5 Signs You Need Data

1. 5 Signs You Need Data and Analytics Consulting Many businesses are overwhelmed by the huge volumes of data that they generate, finding it hard to sort through the noise and identify what data and informationis crucial to make key decisions.In this blog, we have compiled a list of five most- common indicators that show that a company needs to invest in data analytics initiatives to get actionable insights from their data. It is worthwhile to consider taking help from a data and analytics consulting firm if any of these indications apply to your organization. 1. Key decision-makers cannot access actionable data In an ideal world, business data is instantly available and easyto access and utilize. But in reality, this is rarely the case. Most organizations have huge amounts of data stored in disparate sources, making it difficult to access and use when needed.If no one knows how to get the required information for solving a queries or business problems—whether you are asking your senior leadership, marketing managers, or IT analysts—then it is time to rethink your data strategy and take help from experienceddata and analytics consulting firms to effectively use your enterprise data. 2. Your company has outgrown spreadsheets Spreadsheets have their uses, but they cannot fulfill the increasing analytics demands of a growing business.Consider switching to more advanced data and analytics toolsif your needs have outgrown the capabilities of spreadsheet reporting. A top-tier solution directs all your data from various sources and keeps it in a unique location to lower the possibility of human error. As the source is updated every time, new information becomes available andbusiness users always have the most up-to- date facts when producing reports. 3. Reporting takes too long Waiting for IT-generated reports can be time-consuming and frustrating. The lengthy wait often renders these documents outdated by the time they reach your desk. Data and analytics consulting firmsdevelop innovative technology solutions with latest and tools to ensure that your data is clean, professionally managed, and readily available for analytical purposes. 4. Your businessusers do not have access to all the data& insights they need in one place Managers need quick access to sales statistics, supply chain information, cost analyses, and other related information without searching for it or waiting for a report. But this becomes difficult to accomplishwithout a dashboard that shows key performance indicatorsin real time. You need persona-based dashboardsthat provides a real-time visual representation of vital metrics that’s important for your business leader to make data-driven decisions for his line of work. Your data and analytics consulting partner can help you build relevant dashboards toto show a variety of critical statistics, alerts, and trends in ways that are easy to evaluate. 5. Reports lack substance Legacy data analysis tools can only generate high-level summary and information that does not go far enough in terms of detail for effective reporting. Data and analytics solution firms can give you modern solutions that allow you to generate more comprehensive and dynamic reports that delvedeeper. For instance, while a high-level summary might show that your company is meeting sales targets overall, a dynamic report may reveal that one store is outperforming expectationsand another is underperforming—all in just a click. With proliferation of data and its increasing importance to stay relevant in today’s digital age, you need to find a way to properly maintain and leverage your organizational data. Itcan become a pain point if you do not establish the appropriate

2. procedures and systems early on as your organization expands. Work withan experienced data and analytics consulting firm to make sense of your data and use it to improve your bottom line.