Without context and understanding, data can lose its value and meaning, but when we look at data points collectively, it can help us see patterns we would have never otherwise seen. This is where analytics comes in; it’s the process of discovering patterns and trends from the data. Insights is the “ah-ha” moment when the data and analytics come together into a cohesive story that allows you to better see the reality of what’s going on with your business.
Insights are used to gain a deeper understanding into your business. As you can imagine, good, clean data is crucial for informing strategic business decisions.
There are two predominant types of Insights:
The first is Actionable Insights. Actionable insights are conclusions drawn from data that can be turned directly into an action or a response. These insights are specific and relevant enough that they lead to actions which can increase efficiency, revenue, and profits within a business.
The second is Active Intelligence. Enabling moment-to-moment decision making, Active Intelligence embeds real-time, up-to-date information directly in business processes. Using artificial intelligence and machine learning, it surfaces actionable data points – events, insights, or predictions – as they occur for deeper analysis and immediate action.
GlueData’s Analytics and Insights offering bridges the gap between raw data and wise decision-making. It enables a deep and accurate understanding of your business and its many nuances, easily and rapidly extracting insights, patterns and connections that drive wise and profitable decision-making.
Why is using Data Insights important for your business?
Security & Control
Data extracted directly from the ERP database layer can end up anywhere. It’s better to have a methodology that controls points to monitor and govern exactly what exists in the ERP and what shape it is in. It is also important to implement role-based access policies.
Extracting data directly from your ERP database layer will influence performance and cause issues. As soon as you start extracting data and complexity grows, so does the workload on the ERP infrastructure. A centralised reporting data repository will enable integration to multiple stakeholders that can be scaled for optimal performance.
Being able to look at your reporting data model as the true north star will improve insights and enhance analytical capabilities.
Accuracy & Consistency
Different entities have different perspectives and visions of what the reporting data should look like; but the data will always look different based on stakeholder requirements/perspectives. It’s best practice to design a reporting data model that provides a consistent, accurate and complete base which serves as a base foundation for all internal and external reporting.
Growing curious of integration possibilities is the first sign that your business is ready to embark on the journey of incorporating data insights into every business process or component.
What Data Insights can unlock for your business
Data engineering is one of the key competencies we use to plan, develop, and implement
reporting systems that will promote data insights. It’s the practice of designing and building systems for collecting, storing, and analysing data at scale.
Here’s what it unlocks:
- Integration: The ability to integrate with various data sources using a wide variety of tools
- Enablement: Enabling business processes, divisions, and teams to effectively communicate via data
- Automation: We are living in the future, processes and systems should be fully automated and involve minimal human interference.
- Insights: This is the end goal: companies will be able to trust their data in order to improve efficiency, revenue, and profits.
Let us assist you to easily access and understand the insights needed to steer your business optimally and efficiently and deliver trust in your data and conviction in your decisions.