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Data – Digital insights

Article 02 Aug 2020 Read time: 3 min

Data – Digital insights

The next domain of digital transformation is data: how businesses produce, manage, and utilize information. Traditionally, data was produced through a variety of planned measurements (from customer surveys to inventories) that were conducted within a business’s own processes—manufacturing, operations, sales, marketing. The resulting data was used mainly for evaluating, forecasting, and decision making.

By contrast, today we are faced with a data deluge. Most data available to businesses is not generated through any systematic planning like a market survey; instead, it is being generated in unprecedented quantities from every conversation, interaction, or process inside or outside these businesses. With social media, mobile devices, and sensors on every object in a company’s supply chain, every business now has access to a river of unstructured data that is generated without planning and that can increasingly be utilized with new analytical tools.

These “Big Data” tools allow firms to make new kinds of predictions, uncover unexpected patterns in business activity, and unlock new sources of value. Rather than being confined to the province of specific business intelligence units, data is becoming the lifeblood of every department and a strategic asset to be developed and deployed over time. Data is a vital part of how every business operates, differentiates itself in the market, and generates new value.

- Context: What are you trying to achieve? Who is invested in the project's results? Are there any larger goals or deadlines that can help prioritize the project?
-Need: What specific needs could be addressed by intelligently using data? What will this project accomplish that was impossible before?
-Vision: What will meeting the need with data look like? Is it possible to mock up the final result? What is the logic behind the solution?
-Outcome:How and by whom will the result be used and integrated into the company? How will the success of the project be measured?

Most organizations recognize that being a successful, data-driven company requires skilled developers and analysts. Fewer grasp how to use data to tell a meaningful story that resonates both intellectually and emotionally with an audience. Marketers are responsible for this story; as such, they're often the bridge between the data and those who need to learn something from it, or make decisions based on its analysis. As specialists, we help to tailor the story to the audience and effectively use data visualization to complement our narrative. We know that data is powerful. But with a good story, it's unforgettable.

"If history were taught in the form of stories, it would never be forgotten." The same applies to data. Companies must understand that data will be remembered only if presented in the right way. And often a slide, spreadsheet or graph is not the right way; a story is. through the use of interesting visuals and examples, people respond to messaging when it's delivered either with statistics or through story.

"When data and stories are used together, they resonate with audiences on both an intellectual and emotional level." We at Pi-One has enabled our customers to think out of the box and have enabled them to make user stories richer and compelling through smarter, timely visual representations of data and enable faster and smarter business decisions resulting in saving of time, costs and efforts and enhanced customer satisfaction.