Unleash
the Power of
Collective Insight
Connect data to people and processes
to maximize business value
Untapped
Potential
So much data is generated today that many companies are
having trouble keeping up with the management o...
Data to Drive
Decision Making
What if you could connect all of the data at your disposal to the
work your employees do and...
18%of organizations report using 20
or more data sources for decision making,
and that percentage will grow in the future....
Create a
Culture of
Collaboration
Collaboration is key to unleashing the power of collective
insight. Ultimately, people a...
Collaborative
Benefits
Organizations are beginning to see the potential for collaborative
technology to drive future growt...
Collective
Solutions
Solutions are available that can change your decision-making
processes and improve collaboration. Thi...
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Connect Data to People and Processes to Maximize Business Value Infographic

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http://spr.ly/insight-and-me - Leveraging today’s technology, organizations can benefit from the power of collective insight, which empowers them to drive innovation, develop a single version of the truth, and boost competitive advantage.

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Connect Data to People and Processes to Maximize Business Value Infographic

  1. 1. Unleash the Power of Collective Insight Connect data to people and processes to maximize business value
  2. 2. Untapped Potential So much data is generated today that many companies are having trouble keeping up with the management of it all. As a result, a large amount of data is often stowed away in data warehouses and silos and ignored or forgotten. This “dark” data has great untapped potential for business; however, many companies have yet to take advantage of it: • 62% of organizations say they use less than half of their data for decision making.1 • Only 34% of companies currently use data to identify new business opportunities and predict future trends and behaviors.2 • Only 24% of companies say they turn data into a revenue generator.3 1 BARC Institute, “Information Culture: Leveraging the Power of Collective Intelligence for Better Decision-Making,” April 2014 2 Ibid 3 Ibid 2
  3. 3. Data to Drive Decision Making What if you could connect all of the data at your disposal to the work your employees do and the business processes they run every day? Leveraging today’s technology, organizations can benefit from the power of collective insight, which can enable them to drive innovation, develop a single version of the truth, and boost competitive advantage. Imagine the potential: • Predict demand or supply across your entire supply chain immediately. • Provide exactly the right offers and services to every customer as they need them. • Understand what your customers and potential customers are saying about you right now. • Predict market trends and customer need, and use this information to innovate and bring new products and services to market quicker. 3
  4. 4. 18%of organizations report using 20 or more data sources for decision making, and that percentage will grow in the future.4 Who’s in Charge of the Data? Managing massive amounts of data requires strong data governance. While technical input is key, building and maximizing an information culture shouldn’t rely solely on IT. There’s a reason for the “B” in BI – it’s business, not technology, intelligence, and all lines of business need to be empowered to consume, manage, and act on data. To better manage and govern your data and the systems involved in decision making, consider the following: • Build an agile IT architecture that can seamlessly integrate multiple internal, external, structured, and unstructured data sources required for decision making. • Set up (or strengthen) tools that drive cross-departmental alignment for data governance and other BI-related tasks. • Define and pervasively use key performance indicators (KPIs) across the organization to better align strategic and operational objectives. 4 BARC Institute, “Information Culture: Leveraging the Power of Collective Intelligence for Better Decision-Making,” April 2014 4
  5. 5. Create a Culture of Collaboration Collaboration is key to unleashing the power of collective insight. Ultimately, people are the primary BI technology, and it is as important to plan the cultural changes for personnel as it is to plan the hardware and software related to BI deployments. 5 BARC Institute, “Information Culture: Leveraging the Power of Collective Intelligence for Better Decision-Making,” April 2014 How to use collaboration to improve performance: • Move from top-down governance to a more democratic style of decision making to increase participation and collaboration. • Add software-based approaches, like dedicated collaboration tools, to traditional methods of collaboration such as in-person meetings and conference calls. • Use BI tools to enhance collective thinking in decision making. 69%of businesses think their organization would perform better with more participation and collaboration in the decision-making process.5 5
  6. 6. Collaborative Benefits Organizations are beginning to see the potential for collaborative technology to drive future growth, but many have yet to adopt modern tools. According to a BARC Institute survey, the most common forms of collaboration in business currently are in- person meetings (88%), e-mails (82%), and conference calls/ Web meetings (68%), while the use of BI tools (29%), dedicated collaboration tools (10%), and social media (4%) is lagging.6 Areas where organizations see collaborative decision-making processes and tools as most beneficial:7 Planning/forecasting Analyzing data Building complex models Monitoring day-to-day activities 78% 67% 49% 41% 6 BARC Institute, “Information Culture: Leveraging the Power of Collective Intelligence for Better Decision-Making,” April 2014 7 Ibid 6
  7. 7. Collective Solutions Solutions are available that can change your decision-making processes and improve collaboration. This is the route to unlocking the potential of collective insight and achieving the information culture required to address one of the key challenges in business today: turning information into a competitive advantage. Download the BARC research paper, “Information Culture: Leveraging the Power of Collective Intelligence for Better Decision Making,” and check out other resources from SAP to discover how collective insight can help you extract the maximum value from your data. DOWNLOAD FREE CONTENT 7
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