The Value of Data
In today’s world data is one of, if not, the most valuable assets in any business. From how many screws are used per hour in a factory to how much money is being spent on labour, if there is an activity taking place in your business, odds are it is possible to obtain data about it.
The key for businesses is to gather accurate data and maintain it properly. The value of data then comes from using it to make informed decisions on maximising productivity and minimising costs.
Data Tips From Our Team
Store your data in a centralised database, also known as a data warehouse, so that there is a single source of truth for your data
Reconcile your data periodically to ensure that the data you are gathering is accurate and there are no duplicate entries
Train staff on data management
Use the right tools to interpret your data. For example, PowerBI allows you to build interactive dashboards so that decision makers can interpret data quickly and easily
Where possible, automate processes to eliminate the risk of human error associated with manual data entries
How Cadence can Help
At Cadence, we specialise in data management and utilising data to drive business growth. We are experienced in building data warehouses, generating dashboards, and automating processes. If you think your business could benefit from improving your data processes, contact Cadence to set up a meeting with our team.