Top Trends in Analytics 2022

Top Trends in Analytics 2022

Centralize, Understand and Trust your Data

Data and analytics continue to deliver increased value to organizations in many ways, from boosting data-focused product offerings to driving those all-important fact-based decisions.

As industries skyrocket, there are several trends that are quickly gaining traction. So, what will be shaping the world of data and analytics for 2022 and where should your top priorities be?

 

Driving Data Literacy

According to Gartner* by 2023 data literacy will become essential in driving business value. As it is fast becoming a critical skill regardless of the role within an organization can you really afford not to address those chronically poor data literacy rates in 2022?

As companies continue the sharp shift towards data-driven decision-making and smart analytics, the ability to understand data and use it as a collaborative tool throughout your organization is vital for success. Organizations need to empower frontline users (not just analysts and data scientists) with the knowledge, skills and technology to make informed decisions quickly and get ahead of the competition.

But it doesn’t stop with merely understanding the data in front of you, users need to become truly data savvy and be able to tell accurate stories around the data. This is where the skillset of the data scientist historically met data visualization and creativity. But, in today’s world we need to arm all users with the tools they need to visualize data effectively, so that insights can be pieced into accurate data stories.  It is no longer just the domain of data specialists to make agile, data-driven decisions in real-time – it’s everyone.

Data Literacy can no longer sit on the ‘nice to have’ list. It needs to become a key priority for every organization. The reality is if you aren’t prioritizing it your competitors will be. And, more crucially, they will be reaching those data-driven conclusions before you’re even off the starting blocks!

Question:
How can you start to improve your data literacy levels when you’ve got data and analytics spread over multiple sources and people working in data silos? How can employees extract insights from multiple sources, analyze and understand them, add narrative and context before communicating them?

Answer:

One way to drastically improve the data literacy rates starts with an enterprise portal. Organizations need to look at consolidating analytical systems and centralizing data to provide users with an easier and quicker way to access information from multiple analytics and information systems. Ensuring ALL key insights (not just half or what they only know exists) can be pieced together in a single storyboard to tell a data story.

Learn more.

 

Centralization is king

We all know that there isn’t one BI or analytics tool to fit every use case. So, if we can’t standardize onto one tool to avoid data sprawl could centralization be the ‘Golden Goose’ you’re looking for? By centralizing access to all data, analytics and information through a master repository you could rid yourself of data silos once and for all and start driving those all-important data-literacy rates upwards in an instant.

Enterprise portals are a pragmatic way to centralize multiple analytics, BI and information assets into a single interface making it easier for end-users to consume the data with modern and app-like user experiences (learn more). Through this modern technology, users are shielded from the underlying complexities of multiple systems and have the information they need to do their job right at their fingertips. Meaning less time searching for information, more time understanding it and driving those data-driven decisions.

Unifying data and analytics into a centralized hub has other benefits. For example, when data is scattered across multiple sources, it can be difficult to ensure the accuracy and trust in data which can diminish the reliability of findings. This could result in decisions being made that are based on inaccurate or biased assumptions.

By centralizing your data and analytics into a central Catalog you can provide access to a myriad of sources where the data can be examined and dissected but with the trust that you are still providing end-users with a single version of the truth. Centralization gives you full visibility of your data and is key to building trust in the insights being presented.

Building Data Trust

 Trust in data is crucial for insight-driven decision-making. As more companies race to unlock the potential of artificial intelligence, machine learning, and automated analytics creating trust in data sources is becoming highly important. The need for accurate and centralized audit and governance capabilities across entire enterprises will be paramount in building this trust. If you can see it, you can believe it.

 Through an enterprise portal you can easily build and administer data policies that ensure data accuracy is maintained. Helping to build out trust throughout your data and allow teams to become more autonomous and self-sufficient in line with the expectations of any multi-generational workforce.

  

Self-service culture

 Self-service is on the rise for all end-users, but for data analytics it’s about more than just the technology. Building a culture around your data and how your users can leverage it to drive organizations forward will be invaluable over the coming months.

 In 2022 we’ll see more companies than ever adopting self-service analytics tools that allow non-technical users to securely access and glean insights from data. This means more end-user involvement in all stages of the data journey, making it faster and easier to extract, harmonize and visualize insights driving better and faster business decisions.

 With a self-service portal, users can easily create and share their own visualizations, dashboards and reports without the need for a technical background – without any intervention from data and IT teams – meaning they have more time to focus on the stuff that really matters. This enables easier access and collaboration for all users leading to the end of data silos across your enterprise. Watch and learn 

 

Wrapping it up

 It’s no coincidence that each of the above links back to the need for us all to become more data-driven. It’s no longer an ideal, but a necessity in the modern business world and driving data literacy needs to be top of your priority list for 2022.

Companies need to encourage and empower users across their organization to become data literate and put in place the infrastructure to make this possible.

Centralizing all analytics and data into a single interface will be key to moving your business towards being truly data driven. As the age of automated analytics is upon us it will be imperative to provide that single version of the truth across your entire data portfolio.

If you build trust in your data, then improved adoption and data literacy rates will follow. The key for 2022 will be to empower all users, not just those with a technical skill set, to understand your data and tell accurate informed stories based on it.

If you’d like to know how an enterprise portal could help you to start your journey and address the all-important 2022 priorities get in touch we’d love to chat. Get in touch

 

*Gartner reference 

 

3 Reasons why an Enterprise Portal can help you deliver the ‘C’ word…Centralization

3 Reasons why an Enterprise Portal can help you deliver the ‘C’ word…Centralization

Don’t worry, you’re not alone if you’re uncomfortable using the ‘C’ word.  Most organizations are still working with data silos that aren’t even close to being centralized, and that’s before we ask whether centralization has even made it to your data strategy. Dealing with information that’s dispersed across a plethora of systems still seems to be the norm. But, as levels of data and information grow it’s becoming increasingly difficult for teams to answer even simple questions quickly and consistently.

In today’s constantly changing digital landscape you need to modernize to remain competitive. However, when you not only have to adapt to a multitude of backend systems but also the new hybrid multi-generational workforce, where do you even begin?

As the ‘C’ word suggests, centralization is all about bringing everything together into one central location where you’ll be able to find anything quickly and easily. By introducing an Intelligent Enterprise Portal you’ll not only give your organization a consolidated view of all critical information but you’ll also be able to operate with greater efficiency and interconnect your systems with external data sources.

Here are three key reasons why moving towards centralization with an enterprise portal might just be what you need.

1. Man cannot live by data alone

Data and insights can be your biggest asset when used effectively but if your users can’t access all the information they need, when they need it, what’s the point in having it?

Think about the last time you were stuck in traffic. What did you do? Did you take out your smart phone and check the ETA, double check the traffic alerts or just get angry? You should’ve just given yourself the right information, at the right time, which would have led to a more effective outcome.

The good news is, there’s a solution that means you don’t need to write-off and replace your data systems to get the required results out of them.  A new class of software – the ‘Intelligent Enterprise Portal’ – is available and lets you repackage and centralize your existing tools and data to drive more value from them than ever before. These sit on top of and provide a consistent interface to multiple existing business applications. They unlock access to reports from legacy tools, enabling users to spend less time searching for data and more time understanding the insights it contains.

So, if your business can’t perform at its best when it should be business as usual, start to think about how centralizing data assets can provide greater value through better visibility.

2. Cookie Cutter solutions just don’t cut it

We all know that one size DOES NOT fit all, however the pandemic and the subsequent rise of the hybrid workplace has highlighted this even further. There needs to be a fundamental change in the way users can interact with analytics and data. Accessing analytics from multiple systems needs to be as quick and simple as using your favorite apps, such as Netflix or Spotify.

Generation X, Y and Z have all been brought up on technology that’s fast, personalized, requires little or no help to set-up and gives them what they want EXACTLY when they need it. User expectations in the workplace are no different to our personal lives, but can the technology live up to these exacting expectations and deliver data and information to users when (or even before) they need it?

The modern enterprise portal adapts to each user with machine-learning based on a user’s behavior and preferences. And with a variety of customization features, users can create their own pages and dashboards with ease – with access to exactly what they need to do their job effectively.

Organizations are under pressure to modernize, and centralization is a key component to help keep up with these multi-generational demands. By adding an Intelligent Enterprise portal to your road map you can re-package your existing portfolio of old and new analytics and BI systems, and create an experience across them all that’s fast, discoverable, personal, smart and data driven whilst still retaining back-end control – there’s no downside surely?

3. Time literally is money

If the success of your business depends on taking action on insights, then using an enterprise portal will allow you to centralize the tools you need in order to act on that data. This means that you can move sooner rather than later with speed and quality decisions. (Read more here)

When everyone in the organization is working with the same data and insights, your company will be well-placed to deliver enhanced and personal user experiences. With centralized data, it’s easier to get every department in-sync to deliver the same messages and experiences consistently, businesses can perform better, drive revenue and boost customer satisfaction.

Removing obstacles to centralization with Digital Hive

Ultimately, if you can centralize your data you will be well-positioned to make better business decisions. When data is decentralized and disorganized, it becomes an obstacle rather than an asset. Intelligent Enterprise portals are the new wave in enterprise technology and enable you to push powerful insights to teams through AI based on roles, department, or user preferences.

Regardless of what is driving you to centralization Digital Hive can offer an intelligent solution that is fit for any user or use case.  Intelligent portals should be at the heart of any modern business because they’ll help you to achieve more than you ever thought possible.

To find out more about Digital Hive’s Intelligent Enterprise Portal and how we can help you start your centralization journey with ease, get in touch.

Making data analytics work for you – instead of the other way around

Making data analytics work for you – instead of the other way around

A very interesting article by one of the teams at McKinsey affirms what many are challenged with, virtually every business today is attempting or at least striving to make better decisions driven by data. Some organizations have one or two data sets and an ‘analytics’ tool while others have 100s of data sets and a dozen or more ‘analytics’ tools.

As per the McKinsey article ‘Making data analytics work for you – instead of the other way around’, there is more to delivering on the value of analytics than plain desire. The article outlines key pillars around executive support, understanding the value and purpose of analytics and embracing the ‘fuzzier stuff’, valuable information that may not ‘feel like data’.

Above all, adoption is key. The ability to bring different informational stories together in one place which is easy to use, compelling and helps find the ‘untapped value’ in the ‘gullies among separate data sets’ will help drive the adoption of your analytics strategy, helping you get close to the reality of making data driven decisions.