It’s the start of 2019 and Technology and Business need each other like never before. Up until recently, both parties have been a little bit wary of each other, sometimes making them appear slightly standoffish but, in truth, the mutual respect has always been there.
Business knows it needs Technology to maintain its operational relevance and Technology knows it needs Business to keep funding its further development. If Technology and Business can both recognise the symbiotic potential of this unfulfilled relationship, both their worlds will flourish, independently and together. And their shared love of data is the reason that 2019 is the year they’re finally going to get together.
If data is the thing that will bring Technology and Business closer together this year, then Data Analytics is their moneymaking matchmaker.
Data Analytics has been on the scene for a very long time – as long as Mathematics and Statistics – but has only recently received the full glare of the spotlight because of the digital world’s fascination with data. Data Analytics is definitely not new but the new tools it can offer, and the way they’re being used to transform Business, are relatively cutting edge. Now, all that’s needed is Technology and Business to start speaking the same Data Analytics language to ensure the success of their relationship.
One of the ways that Technology can woo Business is through the art of visualisation. When Technology and Business undertake a Data Analytics project together the resulting technical analysis needs to be visualised in such a way (i.e. it’s designed to be comprehensible and ultimately useful) that it makes complete sense to the Business user. Put another way, if you can’t understand what the person on the opposite side of the table is saying, you’re never going to suggest a second Data Analytics date.
An additional relational risk is that the technical information hasn’t been visualised correctly and a Business leader, driven by their instinct and experience, picks up on it immediately, irrespective of how smart the Technology actually is. This leads to a breakdown in trust between the two potential partners, making it tougher to do something together again.
It is, therefore, essential to take the time and effort to create a trustworthy data set before presenting it to back to the Business users. Fortunately, there are user friendly data engineering tools and techniques that don’t require software specialists getting in the way. Perfekt has been very lucky in finding the perfect partner in Hitachi Vantara, which allows us to offer a Analytics Platform as a Service to your company.
Even when Business and Technology are getting along, there’s always going to be a question mark over the return on investment involving any plans for the future. It’s, therefore, not surprising that at the start of any new Data Analytics initiative it’s essential to identify and quantify the business value the project will deliver.
Again, clear communications are the key to success. Technology should propose to the Business leader the expected value in a clear and succinct way as possible. There are very good reasons for doing this:
- There’s no point in committing to the project if there’s insufficient Business value
- The Business leadership is in charge of the project budget
- A successful project will require a Business leader to make changes to any process
- Focussing on a Business outcome, rather than a Technology solution, creates a common purpose and enables flexibility and agility throughout the life of the project
A classic, Catch-22 conundrum then materialises, when it may seem impossible to prove the value without executing the project first. The way to overcome this is to take things slowly and execute the project in successive phases where the Business value realised exceeds the investment required. This initial Proof of Value phase needs to be fast and cheap, in order to keep the Business leadership keen.
Our recent whitepaper demonstrated how the proven Technology in our Analytics Platform as a Service unlocks the value in your data; boosts your company’s efficiency, enhances workplace safety and futureproofs your Business.
It looks like Business and Technology, with their shared love of data, have a beautiful future together.