Leveraging Business Data to Support and Inform Decisions
Over the years we’ve successfully helped businesses get the most out of their data. We have codified our successful approach into a best practice model which, when adopted and maintained as part of an ongoing initiative, can help businesses make informed decisions with greater speed, greater confidence and greater clarity.
Mobile reporting solutions enabled by frequent data updates
Know what your data is telling you and take action accordingly
Data Governance assures the quality and integrity of your data
The prevalence of data in the 21st century presents an opportunity to leverage that data to help inform decisions, in a way that was not possible even 5 years ago. We have developed the Data-Driven Decision Model to help organisations extract maximum value from the data they are generating and gathering every day.
Good quality data is the cornerstone upon which well-informed decisions are built. And, whilst elements of this model can benefit organisations in their own right (for example, good data management or analysis through Business Intelligence tools), we believe they deliver the greatest benefits when they work together.
An Overview of the Data-Driven Decision Model
The key premise of the Data-Driven Decision Model is that data can be used to inform decisions. The first consideration is therefore what decision needs to be made. More than one decision may need to be made in order to get from A to B, and often the first desired outcome is simply to understand “Where are we now?”
Understand what analysis needs to be carried out in order to inform the decision. Analysis usually takes the form of charts, reports and/or dashboards, and when done effectively, provides a quick visual representation of multiple layers of data. Identify key metrics and ‘headlines’ that may be required.
Break down your Analysis requirements into measures, dimensions and descriptors, essentially translating the requirements from natural language into “data-speak”. Consider relationships between different elements of your data and how these will impact both the analysis of the data and the underlying structure of the data model.
Gather the data that will power the analysis and help inform your decision. At this cellular level, look for specific fields within specific data sets. Is the raw data complete, up-to-date and accurate? Since your decision will ultimately be informed by your data, data quality is of the utmost importance.
See how some of our customers have benefited from implementation of our data governance principles.
The intellectual property and copyright within and for the Data-Driven Decision Model and its associated implementation lies exclusively with Change this Limited. The Model may not be used or reproduced in part or whole (this includes graphical or functional / operational) in any way without the express written permission from the Directors of Change this Limited. For IP reasons, the model is not shown here in its entirety.