Enterprise Be Nimble, Enterprise Be Quick
The old saying of ‘shape up or ship out’ now rings true among larger organisations as they find their smaller counterparts catching up faster than ever before. Undoubtedly, it is more challenging to transform an organization that spans across the globe with tens to hundreds of thousand employees, rather than a small or medium organisation. The digital race is long underway in India, but the dilemma for these businesses is where and how to start change. At the core of this digital era, is the abundance of data organisations are now able to gather and analyse with technology.
Many companies have been able to find a competitive edge by using insights from customer behaviour to react quickly to market trends. How effectively they can do this depends on how agile they can be, which means the speed and scale at which companies can extract and analyse key information is paramount.
This is where self-service analytics and visualisation platforms become king, giving analytical power to employees who aren’t data scientists, meaning they can make quick decisions based on up to date information.
Getting started with data for allIt is often difficult for employees to make intelligent decisions without the right information and resources in hand or they find manual data entry and analysis too burdensome. Data analytics and visualisation, based on an intuitive platform such as Tableau, enables employees to ask numerous questions from a report and get answers in real time, and they can more quickly and efficiently make sense of their information. Supplementing employees across your organisation with self-service data resources, ultimately results in a win-win of more productive workers and improved business results.
Take multinational technology company, Lenovo, which has developed automated dashboards that are accessible to the entire company. It’s empowering employees with easy-to-use tools and access to take the lead in getting the answers they need. “We moved into one single consolidated report with a lot of interactivity,” says Santhosh Nair, Head of Analytics, BI and Visualization. “People can actually look at those dashboards on their own, ask different business questions, get those answers up front and make decisions faster.” We have seen this method of self-service analytics also upskill employees and improve employee satisfaction at the same time.
A picture speaks a thousand words
On top of self-service analytics, employees can benefit from visual reports tailored to their audiences. This is particularly invaluable for interdepartmental communications, where confusion can occur over different terminology and matrices. From the likes of bar charts to time graphs, data can be presented in a digestible, visual format for all audiences to understand. This reduces the time taken to explain, discuss, and come to decisions, helping large organisations become more nimble.
Marico, one of India’s leading companies in the global beauty and wellness space, has reaped the benefits of visualising data across the company including retail behaviour, sales and marketing, inventory movement, to gain detailed insights into the company’s performance. Presenting the data visually to various departments helped drive a change management initiative to provide easy-to-consume and highly customized dashboards/reports (updated with the latest data) to the company’s decision-makers and management.
Customers are kingBesides increasing internal efficiency and employee productivity, platforms such as self-service data analytics and visualisation can help organisations build relationships with key external stakeholders, especially customers. Through the myriad feedback channels available today — from social media and survey sites to eCommerce portals where people share reviews — capturing customer data is no longer difficult.
What data visualisation provides is the ability to “learn from the customer,” as another global technology firm, Honeywell, has seen. With data analytics and visualisation, Honeywell employees can make sense of disparate data points and gain valuable insights to better predict customer needs and improve the quality of their products and services. “It’s the ease of use; it’s the intuitiveness that will make a difference, and how customers perceive your product. So, for us as a financial planning and analysis organization, it's about how our reports can be made easier to read and how quickly the internal customer can make a decision out of it,” said Preetham Shanbhag, Senior Director, FP&A Operations and Transformation.
An agility boost, not a silver bullet
Data analytics and visualisation, while promising great benefits, is not the end all be all. To truly leverage its potential, organisations need to consider factors such as having the right mindset to evolve in the current landscape of change in order to truly realise the value of empowering employees with data visualisation. For organisations that are willing to make the transition, data-driven decision making offers a world of possibilities.