We rarely find an organization that isn't looking for ways to improve productivity, reduce costs and maximize profits. More than ever this is on the mind of business leaders as prices rise, the stock market falls, and layoffs begin. With an uncertain future, leaders everywhere are trying to hedge bets and create the highest probability of ongoing success. Spoiler alert - it’s all about the data.
It’s Not Too Late
While data remains at the forefront of many organization-wide initiatives, very few are making appreciable progress. A recent McKinsey article shows that over 80% of organizations are not using their data to its full potential. Which doesn’t surprise me at all, because we see it in practice every day. Data resides in a myriad of silos, in multiple departments, from multiple sources, and teams of humans are inevitably tasked with manually aggregating, normalizing and analyzing to glean insights. Often multiple teams from different functional areas - each with its own goals and KPIs - work with the data at the same time, commonly resulting in misalignment on strategic decisions, mismatched data, partial explanations and more questions.
Far too often, in organizations where data normalization and reporting isn’t a standard practice, easily solved problems (and low hanging opportunities) are missed. This can result in million-dollar issues lasting months or even years without being addressed. Mature data-centric organizations are able to solve the same problems (and identify the opportunities) with refined processes, smart infrastructure and data science - reducing risk, saving time and money while increasing revenue potential.
Reasons To Start Today
Our clients tell us that a competitive edge makes all the difference. Many companies aren’t fully aware of everything possible when it comes to enterprise data management - particularly when hiring a consulting firm that's experienced in their industry. The right partner will help ensure:
- Speed to value
- Competitive advantage
- Increased profit
- Reduced costs
- Increased customer retention/satisfaction
- Improved decision making
How To Get Started - Answer These Questions
- Is your data siloed? In Excel? Clean, deduped and integrated - ready for a project?
- Does it take too long to report on exactly what happened last month? Let alone what might happen next quarter?
- Are you investigating a custom data solution? Considering a cloud migration? Thinking about more advanced business intelligence?
- Are you ready to hire in-house/ hire an outside consulting team? Already hired and aren’t happy?
- Is there a budget for the project?
*We’re happy to help answer any questions: info@waterloodata.com
