No data, no metrics, no starting point. We need to understand what we have before we can intelligently work out how to improve it. We also need a known start point to measure the impact of changes. This service not only includes collating data, processing through databases and feeding into reports and dashboards, but help interpreting the data. Working closely with, you to hone the KPIs and help forecast the impacts of potential business, market and regulatory change.
Capital Viewpoint Offers
- Data collation and analysis. Building KPIs and dashboard views.
- Enterprise KPIs – Strategic view. Smart drill downs. Topical detail.
- Customer KPIs – Realise the origin of revenue and cost contribution.
- Preparation / presentation of C-suite level steering meetings.
- Descriptive – What happened? – Hindsight
- Diagnostic – Why did it happen? – Insight
- Predictive – What will happen? – Foresight
- Prescriptive – What should I do? – Propel a better return.
If only we had a crystal ball! Well, with all the data that most businesses get to collect in a digitised environment, you have already paid for an excellent crystal ball. Once we organise the tousled yarn of various raw inputs, the images are often insightful and enlightening .
What is involved.
The first step is to structure the data you have, and begin to make sense of the relationships that exist between the datasets. Other external datasets can also be used to enrich the intelligence. Address geography, socio economic data, weather, market intelligence, industry statistics etc. The data benefits from being organised in a relational database. The loading of the data into the database can typically be automated for future ease.
From the raw datasets, we begin to build queries to extract new data views. Here, we can design some Key Performance Indicators that are likely to be of most interest.
Those views then get visualised in graphical reports. From the reports, we can draw specific items for view in dashboards. Depending on software used, the dashboards can be interactive, offering the ability to find more answers from the data on the fly. These reports and dashboards can be used as the basis for periodic management steering meetings.
The process can be followed in further iterations to improve on the reports. Typically, new questions come to light and answers are sourced.
The Potential Benefits
Efficiency and competitive advantage are the main goals.
Business Intelligence can apply to many areas of the business. Many are using it for sales planning and forecasts, assessing customer behaviours, planning capacity and resources. It’s also relevant for quality assurance analysis, supply optimisation and fraud prevention.
From an owner or senior managers point of view, it is likely to provide new insightful views. It will help add real information to support decisions that may have previously been taken, for better or worse, on intuition alone.