Data Gravity- Shorten the Distance between Data and Value | FineReport

Data Gravity- Shorten the Distance between Data and Value

The previous article introduced data gravity and shared ideas about how to improve the quality of data and value in the formula.

As said before, this article will give you tips on shortening the distance between data and value. In other words, build the data link.

In this regard, IT departments play the most critical role, which is the safeguard of data link in the companies.


Before start, let me interpret what the data link is?

The management link is the process of giving pressure. When problems arose in companies, it’s common that the boss will give the pressure to the mid-level managers, no matters in terms of the business performance or operation. And then the mid-level managers ask operational staff for business data. To provide that, operational teams organize the primary data to the business one.
The direction of the data link is opposite to that of the management link. To support the management link, IT departments need to provide data timely in the form of the data link.

But how can IT build it?

The following is the research about what are the most significant weaknesses of the team supporting data analysis & BI projects?

From the chart, we can find that the problems originally result from People, Method, and Implement.

Therefore, IT departments are supposed to build a bridge between data and value via improving these three aspects.


Again, you may ask how? Most companies have their own IT training system. And some of them may ask for solutions from IT consulting or buy BI tools.

Here, I will combine the solutions provided by FanRuan to show you how to build the links between data and value.

Let’s start from the perspective of ‘People.’

A good team should be armed with the following three abilities. The basic is cognition, which covers the ability to understand data analysis, build knowledge frame, data consensus, and training system.

In the middle is the data ability. In other words, the team can implement data projects, which includes organizing index, statistical analysis, visualization application, and data management.

The last is application ability; it requires the team to do business analysis, support software, energize professional process, and develop data value.

In this respect, I would recommend the IT department build a training system, and encourage team members joined the online community for study, communication, or mutual help.

The second is the ‘Implement.’

To support other departments, the IT department needs two troops. One is the main force who are responsible for building enterprise reports. The other is the reconnaissance force. They are familiar with the business of different departments and energize business by exploring the business data. Based on these practical needs, the former team needs a reporting platform, such as FineReport to deal with complicated reports. And the latter is supposed to use data analysis tools such as BI software FineBI to do analysis, forecast and bring forth new ideas to the company.

The above is about tools, one of the ‘Implement.’ The other element of the ‘Implement’ is solutions. To construct comprehensive solutions, IT departments not only should consider the company’s situations but also take industry solutions into account.

In the past years, FanRuan served companies covering 233 sectors. In the process, FanRuan found that even if the product is excellent, when the product to different industries, the various needs of these industries will reduce the efficiency of the implementation of the project.

And in fact, each sector has certain commonalities. As long as summarize these commonalities into industry solutions, reuse it and continually improve it, the value of products in the industry can be greatly maximized. That’s why FanRuan offers comprehensive industry solutions in addition to providing products.

With all this in place, the last is a ‘Method’ issue.

The point of ‘Method’ is exchange ideas. I highly recommend the IT staff to participate in various events, such as Big Data World in Singapore AI & Big Data Expo in Europe, Big Data LDN in London, Tableau Conference in America, Intelligent Data Conference in China.

In conclusion, the subject of shortening the distance between data and value is the IT department; the way is to improve People, Implement, and Method.

Follow FineReport Reporting Software on Facebook to learn more about data management!

You might also be interested in:

How to build enterprise financial analysis platform and models?

The Skills That Data Analysts Need to Master

Data Has Gravity——How to Improve the Quality of Data & Value

Related Posts

© All Right Reserved