Data strategy – achieving more with data

Far too often when new systems are being implemented, reporting is last on the agenda, however your data is possibly your most valuable asset. At Seaton Partners we believe that it is important to consider data analysis early in the project.

I find it ironic that some systems are still marketed today as having, for example; “over 500 standard reports out of the box”. How efficient are you going to be if you need hundreds of static reports to get the job done?

“Information is data with relevance and purpose”

– Peter Drucker

Business Intelligence and Microsoft Dynamics 365 go hand in hand and the right data strategy can help transform data into information, information into insight, and insight into knowledge or value.

The more we leverage our data to gain deeper insights the greater the asset value will be to the business, but we won’t get there without a plan.

The following are considered five best practices that drive a successful data strategy:

  • Involve executives early and often. Best results will be achieved when the data platform is built in partnership with decision makers. This approach will ensure the creation of a data platform that drives business value from day one.
  • Business questions not data sources. Create a list of business questions you want answered, rather than a list of data sources you want access to.
  • Less is more. Do not cram every piece of data you can find into the new platform. Identify the business questions you want answered and select reliable data sources based on business value appropriately.
  • Useful and usable reports. When moving to a new system, rather than reproducing existing reports, it is better to think strategically about how the data can support business processes and identify the most appropriate mechanism for consuming the data.
  • Clean the data. Reports are only useful if the source data is accurate and meaningful.

A well implemented data strategy can empower users to explore data for themselves using powerful analysis tools to gain insights and avoid unnecessary creation of multiple static reports cutting the same data in different ways.

Microsoft Dynamics 365 is the perfect platform to increase operational efficiency through leaner business processes and smart use of analytics to drive business decisions.

With great features such as embedded analytics to sit alongside operational functionality and powerful integrations, there has never been a better time to invest in Power BI.

If you enjoyed this blog post then keep an eye out for “Requirements gathering – asking the right questions”, coming soon.

Or to find out how we can work together to achieve your goals, please contact us today.