Becoming a data-driven company is essential to compete in today’s digital economy.
Yet, a survey of C-suite executives across financial services, life sciences, healthcare, and retail suggests that efforts to incorporate data into decision-making processes are not as successful as expected despite meaningful investments –HBR, 2021, Why is it So Hard to Become a Data-Driven Company?
Fragmented information is a challenge for many enterprises – Key reports are in spreadsheets and more granular data and analytics reside in multiple departmental solutions.
CHORAL’s unique capabilities enable your team to rapidly build a digital operating model for your data-driven organization.
The opportunity is to organize and integrate data & analytics across domains of expertise and business units to reduce complexity, increase organizational effectiveness, speed and agility.
Create an integrated, interactive view of your enterprise and build a data-driven organization
The data mesh is used to organize and interconnect your unique data with standard tables and relationships. It offers key benefits over other approaches:
CHORAL accelerates your team’s ability to interconnect and analyze data, build analytics solutions and communicate insights using data storytelling.
High value data typically resides in a wide range of sources:
• Files – Spreadsheets, documents, images, videos,
• Enterprise systems – Data lake, data warehouse, databases, applications, SaaS
• External – Data service providers, APIs
While many enterprises are implementing a data lake to consolidate data sources, two key challenges arise:
1. Data lake projects take a long time to implement – months, years
2. Data sources evolve very quickly – as more internal / external data sets are created
The data mesh and associated toolkit improve speed and agility
• Data may be ingested from any source and integrated rapidly to build analytics solutions
• Once analytics solutions and the associated data mesh are refined, the data mesh may be added to the data lake
The ability to utilize all available data sources and rapidly integrate them to solve problems is central to achieving speed and agility in analytics.
Data storytelling is the ability to effectively communicate insights from data and analytics using narrative and data visualization. This is a critical step in creating value with analytics since decision makers take actions based on this information.
CHORAL’s notebook feature eanbles non-IT experts to combine narrative, analytics, data visualization, photos, images, videos, URLs to effectively communicate insights and recommend actions.
