What is Data?
Data as defined in the Cambridge dictionary is “information, especially facts or numbers, collected to be examined and considered and used to help decision-making…”
It is widely known that nowadays, organizations have more data than ever within their reach.
But how many of them are actually making sense of that data and putting it into good use, and if some of them are actually using that data and analyzing it, how many of them are getting the full benefit of their data? The improvements that have occurred in these few past years in the Information Technology field have given organizations many tools that help them study their data in order to get the best out of it and help them find answers to many questions in order to enhance their decision-making.
How can an organization enhance its decision-making?
People in all different fields are faced on a daily basis with decisions they need to make in order to keep the organization ticking and moving forward. Has the loan been repaid? Is the stock full? Have we gone over budget on a specific project? Have the interest rates dropped? How much money do we have to spend on new investments?
A decision made wrong based on inaccurate data or late due to the inability to view that data on time can cost the organization a lot in terms of opportunities.
This is where accurate and timely data is needed. I need to know my actual expenses on a regular basis and compare it to my budget to decide how to proceed on the project. I need to know whether my stock is full for a certain product to know whether to order more of that item or not.
Having the data in an accurate and timely manner will help organizations make the decisions with more assurance by providing them trusted data at the time they need it. This gives them confidence in the data they receive and allows them enough time to make their decisions easier. The analysis will be based on hard facts and on time.
Why Your Organization Needs SAP Analytics…
SAP Analytics gives decision makers in organizations the ability to receive the data they need, in the format they prefer and in a timely manner anywhere they are to help them take their decisions.
By receiving trusted data on time, the decision makers do not have to crosscheck their data or double check their calculations every time which is time consuming. They can receive their reports with the data they need, in the format that can help them make their decisions when they need it saving more time that can be spent on other tasks thus helping them in their time management. A risk officer can save the time spent on gathering data, cross checking it with his source systems, doing the calculations, cross checking them and then sharing the report with decision makers who might need to redo the checking and then make their decisions based on data they do not fully trust. Instead, the report will be generated automatically in the predefined format, based on predefined formulas, reading data straight from the source, and shared with the designated people.
Just as much as SAP Analytics is helpful in time management, it is as equally efficient in improving resource management across an organization. The accurate and timely data presentation and analysis provided will enable organizations in managing their resources across departments and projects. If my report shows me that some projects are ahead of time or some tasks or objectives are done or have achieved their goals ahead of time, I can redirect my focus and my resources to other objectives or projects. This also applies to other opportunities.
If my analytics show me that I will have a surplus of work force, budget or products for my goals in the current year, these resources could be rerouted to other additional opportunities that I thought would be out of reach in the current period.
What We do at Tyconz
Here at Tyconz, our Analytics team has been helping our clients through implementations across multiple industries and sectors to hone their time and resources and direct them at the right opportunities and goals by providing state of the art analytics tools and capabilities available through SAP Analytics‘ vast arsenal of tools.
Our portfolio spans from regulatory reporting that generates regulatory reports and shares them with regulators automatically, to predictive models that predict trends based on predefined calculations, customer correspondence that shares end of period reports with clients and customized reports and data management solutions in order to automate daily activities and deliver the end result to the respective people without the interference of IT or business users.
To know more how Tyconz can help you better use your data in order to enhance your time and resource management contact our team!