"Data is the new gold," declared Myla, the COO of King Corporation, to her executive team. The room buzzed with anticipation as she laid out the company's ambitious vision. Eager to tap into this wealth, King Corporation had invested heavily in state-of-the-art analytics tools and hired a talented team to create dashboards that would revolutionize their decision-making processes.
The vision was clear: a future where every decision was data-driven, and every strategy backed by insightful analytics.
With improvements needed in key performance indicators (KPIs) such as customer satisfaction, operational efficiency, and sales growth being of primary concern, the stakes were high...
The analytics team, led by Sam, a data enthusiast with a knack for visualization, set to work. They poured over reams of data, created sophisticated models, and designed stunning dashboards. These dashboards were a sight to behold: vibrant colors, interactive charts, real-time updates. They were perfect—at least, that’s what Sam thought.
First Steps:
The day came to unveil the dashboards to the executive team. Sam presented the new tools, showcasing the potential to transform how decisions were made. Myla, who had hired Sam, was particularly impressed. “This looks fantastic, Sam. It’s clear you’ve put a lot of effort into this,” she said. “You’re free to hire a couple more individuals to help you out, but remember, people are very busy. Now is not the time to parade around bothering everyone.”
Weeks passed.
The excitement faded.
Sam noticed something troubling...
~no one was using the dashboards~
They sat untouched, gathering digital dust. The initial enthusiasm had evaporated, and the dashboards, once hailed as game-changers, were now neglected.
Determined to understand the disconnect, Sam decided to shadow various departments and observe their decision-making processes....
~ It was a revelation. ~
The dashboards, despite their visual appeal, did not align with the actual needs of the decision-makers. The insights provided were interesting but not actionable. They were answering questions no one was asking...
Sam knew he had to talk to Myla...
~ It was a difficult conversation. ~
He explained that while the dashboards were visually impressive, they weren’t being used because they didn’t align with the actual decision points within the business processes.
“We need a deeper understanding of these processes and the specific decisions that need to be informed by data,” Sam argued. “This is where augmented analytics can play a role, helping to inform decision-makers. We need to identify use cases to ensure our work is valuable to the organization.”
Myla listened intently.
“I understand, Sam. I’ve had a recent chat with a peer who’s shown interest in getting more value from their data. They’re eager to work with us. Let’s focus on this area first and take a targeted approach. We don’t need to boil the ocean.”
The next day, Sam assembled his team and shared Myla’s feedback. Together, they decided to start with a comprehensive data audit. They discovered data quality issues, gaps, and opportunities for improvement. This foundational work was essential for building trust in the data.
Focused Collaboration:
Taking Myla's advice, Sam decided to start with the team that had shown interest in augmented analytics – the Sales Team. He organized a series of workshops with this specific team to dive deeper into their decision-making processes. Frontline employees, managers, and analysts shared their insights and pain points. Through these sessions, Sam and his team began to understand the specific decision points within this business process.
Creative Problem-Solving:
During one of the workshops, a critical decision point was revealed: predicting which leads were most likely to convert into customers. The current dashboards provided overall trends, but the team needed more granular insights to prioritize their efforts. Sam and his team brainstormed and came up with a solution: a dashboard that integrated lead scoring algorithms with real-time data.
Sam and his team realized that to deliver effective augmented analytics dashboards, they needed to adopt new processes and a robust architecture. They focused on understanding the end-to-end workflow, from data collection and processing to analysis and visualization. This approach ensured that the insights were timely and actionable.
System Architecture:
The team designed an architecture that could support the dynamic needs of the team. It involved integrating various data sources, setting up real-time data pipelines, and establishing a feedback loop where the sales team's usage and feedback could continuously improve the dashboards. This architecture was scalable and adaptable, ensuring long-term sustainability and relevance.
Embedding Decision Intelligence:
The first augmented analytics dashboard was deployed to the sales team, providing real-time lead scoring and prioritizing leads based on their likelihood to convert. This implementation highlighted the concept of Decision Intelligence, where data insights were directly aligned with business decisions, enhancing the effectiveness and efficiency of the sales team.
Within weeks, the sales team reported a measurable increase in conversion rates. Operational efficiency improved as teams across the organization began to use the new, tailored dashboards. Customer satisfaction scores started to climb, thanks to more targeted and effective service efforts informed by the data insights.
Conclusion: The Lesson Learned
The journey of King Corporation is a testament to the importance of aligning data insights with business needs. Through their experiences, stakeholders at every level learned lessons about the true value of their data. Initially dazzled by visually impressive but ultimately unaligned dashboards, they discovered that real success required a fundamental shift in mindset.
Key Points to Positive Outcomes:
1. Understanding Decision Points:
Sam and his team focused on identifying specific decision points within business processes, ensuring that data insights were actionable and relevant.
2. Collaboration and Engagement: Workshops and collaborative sessions across departments helped build a shared understanding of pain points and opportunities, fostering a culture of data-driven decision-making.
3. Embracing Decision Intelligence: The shift from creating static dashboards to implementing dynamic, decision-centric solutions ensured that data was directly aligned with business needs.
4. Scalable and Adaptable Architecture: Building a robust system architecture allowed for continuous improvement and adaptability, ensuring long-term sustainability of data initiatives.
Compared to their initial approach, which emphasized visually stunning dashboards, the new strategy focused on process alignment and practical application. It was this change in mindset, from merely presenting data to embedding it into decision-making processes, that unlocked the true potential of their data assets.
Epilogue: Cultivating a Data-Driven Culture
The increased effort that Sam's team took on not only led to immediate improvements but also started to cultivate a broader, shared understanding of King Corporation's data. This growing data literacy within the company led to an expanding list of use cases, many of which began to explore how artificial intelligence could be incorporated into their business processes. Each use case was tied to an identifiable metric, and the right teams were engaged to build a deeper understanding of the domain expertise of various departments. This collaborative approach ensured that the solutions developed were relevant, impactful, and aligned with the company's strategic objectives.
Case Studies:
One notable success story involved the operations team. By using augmented analytics to optimize their supply chain processes, they reduced inventory costs by 8% while maintaining high service levels. Another success was in marketing, where targeted campaign adjustments based on data insights led to a 12% increase in ROI.
~ Call to Action: Your Turn ~
Are your dashboards just another pretty face, or are they driving real decisions?
Let’s transform your data into actionable insights that deliver tangible results.
Reach out to us today, and let’s unlock the true potential of your data together.
About the Author
Mark S. Struck, FCAS, FCIA, MAAA
An Actuary by trade, Mark is a leader, builder, and innovator in all things centered around data and artificial intelligence. With 20+ years of hands-on experience in designing, developing, and deploying analytic systems, Mark’s insights range from the technical work associated with managing data to the cultural implications associated with the adoption of a data-centered AI system. Currently, Mark is a Principal Consultant at Online Business Systems Global, where he advises organizations, big and small, on how to make the most of their data assets. Mark is also the Chief Analytics Officer at a startup, Max Analytics, where the focus is on improving the level of competition among young athletes.