Staying on top of ever more complex data
It is no news that businesses are being flooded with ever increasing amounts of data from multiple sources. The task of extracting, processing and investigating ever more complex data structures can cause difficulties for businesses, both in terms of speed of reporting and insight, but also how frequent they can get to the insight. Consequently, valuable data is often not used to its full potential.
This is where someone who understands the importance of simplicity and relevancy of data comes into action – to be able to manage that data and clean actionable insights from it. A lot of the work we do at Brightblue consists of gathering and merging data from various sources, cleaning it and then transforming it into an easily readable format for our clients.
This process in itself holds a lot of value for our clients. We find that simply feeding internal and external data in an easily digestible way back to our clients often leads to interesting discussions and insights. However, we also find that simply presenting charts and tables in the form of a PowerPoint deck can be limiting to this process. One chart often leads to a whole range of new questions, which are not easily answered during the meeting, as they require a further dive into the data.
This can cost valuable time or lead to some questions simply not being investigated at all.
Dashboards automate our services
This is why we are focusing on combining traditional presentations with dashboards as a new form of presentation. The combination allows us to follow a logical story whilst staying flexible enough to quickly drill down on unanticipated questions in front of our clients. Moreover, we can make the dashboards available to our clients for further interrogation after the initial presentation.
Another key advantage to the dashboard is that, once it has been put into place, it can be easily updated. Various sources of data are online and can be directly accessed through an Application Processing Interface (API) connection. On top of this, other sources can be updated semi-automatically from scheduled reports or File Transfer Protocol (FTP) connections.
The key benefit of this is that it allows for more frequent reporting of monthly or weekly data and modelling updates. It also means that there is a faster turnaround enabling us to get a precise read on activities days after they have happened rather than months which is often the case for traditional modelling.
The next big thing
Whilst this type of reporting is increasingly common practice, we at Brightblue are combining the reporting power of dashboards with the intellect of advanced predictive modelling and analytics. We not only offer real-time reporting but also real-time analytics. In order for this to work, we set up live dashboards that connect with our models which, in turn, link up to automated reports and API connections. This means that our clients can track how their key business metrics are moving but also it allows them to understand why in a faster, and frequent method.