Some organisations make the mistake of trying to solve all their challenges at once and ultimately fail. Data analytics, business intelligence and advanced analytics can help to be more efficient, to gain some insights on your business. However, it is important to get to the bottom of the challenges you are facing to be able to tackle them.
By focusing on your highest priority pain points, your destination can ensure you can find solutions within your resource capacity and budget. Moving from data to decisions means finding answers and solutions to some of the most pressing questions and challenges you might face such as: What is your biggest business pain point? How do I maximise my return on investment by spending my marketing budget on relevant markets or campaigns? How can I optimise my sales on a specific product? What is my biggest contributor in terms of revenue? How do I keep them?
Our step by step approach to data analytics will empower you to act. During the workshop, we will use a framework called B.A.D.I.R which stands for Business question, Analysis plan, Data collection, Insights, Recommendations. This framework will allow us to follow a step by step approach to solve your business challenge.
The purpose of this first part is to analyze the situation and to define the “real” business question. We will therefore clarify the intention behind the request and match this with the business consideration.
Based on the “real” business question, we can then move into the analysis plan. This plan is composed of five blocks: Analysis goals, Hypotheses, Methodology, Data specification and Project plan. We will go through each block to establish a proper plan and actions.
When the business question is “crystal clear” for everybody and that you have agreed upon an analysis plan, we can finally look at the data. Before entering this step, you need to know that this part can be quite time-consuming. At this step, we will go deeply into your data and you may realize that your data are not as “clean” as they should be.
The next step is to choose the right methodology to review the analytics and the right visualisation. We will review different options to check the patterns and possible BI tools (Tableau – Qlikview) to test it.
The final step is a proposal of an executive summary to be used in order to present the findings.