Data for Businesses: The Critical Path to Leveraging Data for Enterprise Success

Data analysis has developed to the level where it can anticipate customer behavior, predict industry trends, and intervene before operational issues become disruptive. It's an incredibly powerful tool for business leaders who are navigating the fast-paced market of today. However, across the board, businesses are struggling to become truly data-centric and leverage the intelligence data analysis provides to its full competitive advantage.

Intelligent enterprises integrate data into their day-to-day processes and business operations so data-driven decisions can be made at the click of a button. For that to be possible, they need an advanced data platform that is also self-serviceable by non-expert users. So, what steps does an enterprise need to take to become data-driven?

Why is Leveraging Data So Important?

First, why is becoming data-driven a digital transformation worth investing in? With all the other demands businesses are facing, embedding data in business processing can elevate agility, efficiency, and profitability.

  • Maintenance
    The development of advanced data analysis has transformed the way we do business because enterprises, whatever size, industry, or goals, can easily access detailed insights on all business processes. These insights are so detailed because they come from a variety of sources, from monitoring marketing impact via social media analytics to monitoring operational performance via the tracking of manufacturing equipment. A business' success from production to customer care can be accurately mapped in real time.
  • Growth
    Such insights highlight areas for optimization and opportunities for business growth, enabling speedy adaption to market changes. For example, if fulfilling orders fail to meet stated timelines, the data map will indicate the areas of inefficiency. Similarly, if there is a shift in customer demand, data analysis can flag this and even formulate plans of action.
  • Digital Transformation
    Data as a business tool is only becoming more powerful with the emergence of market-ready AI and complementary technologies that can automate data mining, processing, and interpretation. This will improve ease of use and make data analysis platforms more accessible to teams outside of the IT department.
    These capabilities turn businesses into responsive intelligent enterprises. However, there is a gap between gathering data and leveraging data for accelerated business growth which can only be filled by the right data platform.

The Process to Become a Data-Centric Intelligent Enterprise

For data to be valuable to a business, it needs to be collected, processed, and shared for maximum effectiveness. Otherwise, its use is limited. Enterprises can set themselves up for success by following these steps for finding and implementing a data analysis platform.

  • Establish a Single Source of Truth

    Data collection isn't as simple as it initially appears, especially for larger enterprises with different departments and supply chain partners. To have an accurate data-driven picture of the business, the data analysis platform you use needs the intelligence to collect data across the value chain, overcoming any silos of data between lines of business applications.

    A system architecture that enables full transparency across the business has the power to generate real-time insights that support fast decision-making. This is a competitive advantage in the current business climate which requires continuous improvement of processes to navigate external factors and meet consumer demands. A truly intelligent platform also has the capability to predict outcomes and make adjustments accordingly.

  • Run on the Cloud

    Having completed the first step of establishing a single source of truth from an intelligent platform, you can choose your data storage solution. Housing data on the cloud is highly recommended for various reasons.

    Cloud-based data platforms provide both flexibility and security. With cloud storage, users don't have to be onsite to access the data insights and platform processes. Data can be consulted wherever they are located which is essential for the modern workplace and large enterprises that span across multiple locations. Despite this, cloud storage is robustly secure as security updates are automatically uploaded to stay ahead of potential risks.

    Furthermore, architecture on the cloud can be more easily combined with innovative technologies such as AI, blockchain, and IoT, expanding the application of the data as emerging technology becomes useable for corporate purposes.

  • Introduce Automation

    The final step to unlocking the full potential of data analysis for business growth is to implement automation. A well-structured data platform can much more effectively and efficiently integrate and apply collected data, so it is ready for use in decision-making. With the volume of data now available to businesses, manual analysis is no longer fit for purpose.

    Using system automation to cross-reference data sets from various sources, such as sensors, documents, social media, IT applications, production lines or machinery, external sources, and other media, is a much more time and cost-efficient way to produce reliable insights. The quality of insights garnered through automation is highly valuable, especially when the framework for extraction and analysis is customized to individual clients for precise and efficient data processing.

    Therefore, an effective data analytics platform should have the intelligence to collect and report all data across even complex business structures alongside predictive and prescriptive analytics while housed in the cloud. It should also have the capability to automatically perform data processes and generate user-ready insights. There is a solution that embodies all these qualities and more.

Your Pre-Configured and Expert-Implemented Solution

SAP is the one-stop shop for software that supports enterprise intelligence. With the foundation of their widely used ERPs, supported by their horizontal applications, a business can take advantage of an end-to-end cloud-based system for data intelligence and the resulting business transformation and innovator status.

At NTT DATA, we are known as a formidable force in SAP services because we have more than 20,000 SAP professionals, 2,700 SAP clients worldwide, 21 delivery centers, and operations in 41 countries. As a SAP Global Strategic Partner, we have the expertise to support enterprises as they plan, build, and implement their ideal SAP solution, leading the project from proposal to launch.

Contact us for a data analytics platform that is pre-configured, and supported by domain experts capable of delivering customizations at any scale.

Michel Liew

Michel Liew

Managing Consultant at NTT DATA Business Solutions Singapore

Related links