Many companies today are using data and analytics to support a wide variety of business decisions. Examples include making processes more cost efficient, developing more robust business strategies, monitoring and improving company financial performance, and more.
To utilize data and analytics most effectively, following a five-step process can be helpful:
- Why do you need to conduct analysis? Consider what questions you want to answer.
- Do you have access to good data? Standardized, consistent data is essential. Gathering this information might require digitization and/or data scrubbing.
- Can you interpret the data you have? The goal is to transform structured and unstructured data into actionable insights.
- What action should you take? Based on the insights that the analysis reveals, you must determine what action – if any – to take.
- What does the data tell you over time? Teams must revisit data over time to make sure that their decisions are still validated by the organization’s information.
Companies use IMAGINiT’s Clarity software, for example, to create more efficient Revit environments by reducing data corruption and file crashes, supporting faster file open times, and synchronizing data to central information storage more rapidly. The amount of time that this saves each employee per week can be extrapolated to annual time savings and productivity improvements, thus justifying the investment in Clarity.
IMAGINiT has worked with many firms of different sizes to improve their workflow efficiency based on technology and best practices.
To learn more about how your organization can use data and analytics to make better business decisions, feel free to contact us.
