Data Analysis: Often Overlooked, Always Vital

Data Analysis: Often Overlooked, Always Vital

Business intelligence insights and data analysis visualizations are part of our daily lives. We see statistics and analytical findings presented in graphs, charts, and other data visualizations in news articles, online content, advertising, and marketing. As a society, we are consistently exposed to data insights when we hear phrases like; ‘60% of adults in the U.S. agree with statement X’, or ‘product Y kills 97.5% of all germs’. Food item packaging also includes product data in the form of “Nutrition Facts” and the Percentage of Daily Value figures.

As consumers, we use these facts and figures to make smart purchasing and lifestyle decisions to improve our daily lives.

As employees and managers, it is vital we make smart decisions using data driven business intelligence (BI). The use of daily, weekly, and monthly reporting and Key Performance Indicators (KPIs) are commonplace and important to every organization. But many organizations have not fully incorporated data driven insights into their daily business model due to ‘the unknowns’. In fact, a recent study by Gartner shows more than 87 percent of organization have low business intelligence and analytics maturity.

Some of the most common unknowns are…

What data should we be analyzing and why?
What data do we have in-house?
Do we need other data?
What software do we need?
Do we have staff trained to analyze data?
Do we have the time to analyze more data?
How much would it cost to build a data analysis initiative?

Eliminating these concerns becomes easier when you are working with someone who understands your business and your data, can answer your questions, and help you identify solutions.

Regardless of how a business is positioned, there are smart options to help every organization build and launch their own data analytics plan. CBORD offers a Data Analytics tool and services to help you make the most of the data in your CBORD system.

Contact us today to learn more or request a demo!

 

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