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!
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?
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.
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 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.