What can be done to reduce employee turnover? How can your business allocate internal resources more effectively? What is causing that slowdown in operations and why?
Effective data management can answer these and other pressing questions – but practical concerns too often put the right lessons out of reach.
Although a variety of excellent data management and visualization methods are on the market, they tend to fall short of the mark when it comes to solving business problems, or are prohibitively expensive for many businesses, with benefits that take far too long to materialize.
To bridge this gap, we developed Lightning Data Intelligence (LDI) – a powerful tool for generating data visualizations and data insights, which is nevertheless affordable for businesses and quick to deploy. As we will see, LDI shares the benefits of other common data management methods, while avoiding the drawbacks that make them unsuitable for many companies to adopt.
The result is a solution of enormous value and convenience, particularly for organizations that need to improve specific business outcomes in HR, operations, or finance, or solve bigger challenges that need to bring together data from across the business to gain deep and powerful insights, while remaining within reach of most budgets.
Strengths and weaknesses of popular data management and visualization tools
Standard Dashboards – This data management tool often comes as part of a software service, such as a CRM solution, and can track, analyze, and visualize data, producing and presenting key business metrics to facilitate decision-making. However, the dashboard is only capable of processing data averages, meaning that it cannot pinpoint specific outliers, or drill down on specific data points. These systems are typically limited to data only within the system, and can not be combined with data from other systems or business units. Many popular solutions also have a limited capacity for data intake, leading to incomplete data sets and inaccurate conclusions.
Organic Management Solutions – Businesses often store and process their data in a piecemeal manner, via some combination of employee desktops, human resources file folders, databases, and other sources. This data management has grown “organically”, which is to say that it hasn’t yet been properly managed and integrated. Once data is reported, it must go through a heavy manual compilation process that may take a serious amount of time, money, and effort to generate and update reports and visualizations.
Business Intelligence – This is the most popular option for businesses with large budgets as it provides a comprehensive, albeit complicated, data management and visualization solution. Data is mass-migrated into a centralized data lake, which can be accessed and analyzed by authorized company managers. Still, there is a caveat, and it is a big one: A professional IT and Business Intelligence team must be on hand to manage the system and make changes. The total cost of ownership required to implement and maintain such a system is therefore incredibly high, making it an unrealistic option for many companies and business units. Time to deployment can also take years.
Lightning Data Intelligence as a data solution
Lightning Data Intelligence represents a much-needed alternative, helping businesses move beyond the limitations of these common data management and visualization methods in a cost-effective, timely manner, bridging the gap between the time-consuming organic solution and the expensive business intelligence solution.
The LDI process begins by identifying the problems our client needs to address, and then extracting only the particular data needed to visualize and address those problems. This data is then transferred in an organized fashion into a secure, centralized data lake, which we establish and manage on the Amazon Web Services (AWS) system. The LDI system is then accessed through a secure web portal, which our clients can access in real time to view their specific, co-created data visualizations.
- Smarter decision making – Because it’s easy to understand the purpose-made data visualizations and drill-down on the data to answer key questions, we can overcome the challenges of fuzzy data averages, allowing business leaders to make smarter decisions while saving time and money.
- Affordable in comparison – Rather than an expensive and challenging investment in data IT experts and a Business Intelligence team, the LDI provides a one-stop, turnkey-managed service solution for critical data needs and insights.
- Simplified digital transformation – When compiled over time and in an organized fashion, the collected data can provide powerful insights to help solve problems that are cross-domain in nature, linking data from different systems and business units. Once sufficient data is collected, predictive data analysis using artificial intelligence and machine learning can be applied for even deeper insights, accelerating digital and data transformation efforts without disrupting business operations.
Turning insight into action
Through accessible, specific, and centralized data systems, Lightning Data Intelligence lets you understand crucial, actionable lessons from your organization. From there, you’ll be able to identify the causes of your most pressing business needs, be it in specific domains like HR or finance, or cross-domain, allowing you to solve them with near-surgical precision, saving time and money in the process.
For a data-based understanding of your business, no matter the current state of your data systems or knowledge, contact AMPOS today – and let us be your trusted partner moving forward.