Actionable Insights Put Data to Work for Enterprises
Making a decision that impacts an enterprise is challenging. This is why executives, CEOs and other leaders are so hungry for data that can help them to make informed decisions. Instinct alone is often not enough to steer an enterprise toward success. What leaders need are actionable insights based on true data.
What is an actionable insight? An actionable insight refers to information that can be acted upon or used to make decisions regarding the future. The reality is that data is driving many of the decisions in the business world today because it is the most reliable indicator of many factors that affect the success or failure of a business to connect with its audience.
A Quick Guide to Actionable Insights
Data is the term for the raw and unprocessed facts that are received. Data typically comes in the form of numbers and text. It lives in databases and spreadsheets that can be digested and accessed by users. Information is data that has been processed and organized into a user-friendly format. It is typically broken down for use in visualizations and reports.
Insights are developed by analyzing information extrapolated from raw data. An insight is essentially the informed conclusion that is drawn after looking at both data and information. How can these factors be combined to evaluate, measure, and correctly predict results? Bringing it all together in an executable way requires a platform for Big Data analytics.
This platform must keep the following principles in mind:
- Metrics must be aligned with an enterprise’s purpose
- Context must be given a place in comparisons
- Relevant data must be assigned to the right places
- Specificity is important for accuracy
- Novelties and deviations should be singled out and explored further
Finding the Right Tools for Developing Actionable Insights
Data is only as good as your ability to access it and evaluate it. The exciting thing is that there are Big Data processing tools available to enterprises of all sizes right now that can help a business find actionable insights. These platforms take into account that enterprises need to be able to capture data and create reports in real time. Those reports can be used to create both instantaneous reactions within a network and long-term decisions within a corporation. Some of the features offered by such a platform include:
- Open-source engines
- Easy console management
- Stream processing
- Batch processing
- Automatic recovery from node outages
- Data preservation
- Visualization tools
Harvesting insights from Big Data is a delicate process that requires an intuitive and adaptable platform. An effective platform should be able to collect, display and assess data in ways that are meaningful and relevant to an enterprise’s goals.
Choosing the right platform puts an enterprise in a position to use both human ingenuity and technology to uncover truths and patterns at all levels of interaction to find actionable insights. You can learn more about what Big Data means in relation to actionable insights and how to take advantage of them here