High-quality data. It can be a powerful competitive tool. It can also bog your company down. Knowing which data is the right information for that moment can be a full-time job.
Organizations that successfully integrate their IT systems into a single unified view have a better chance of accessing the right information at the right time to make better, faster decisions. Jump-start your decision-making processes with these three steps.
Step 1: Evaluate your current business environment and IT infrastructure
Perform a health check of business activities and the IT infrastructure. Understand where your organization is, where it needs to go, and what software solutions are needed to get there. For example, can your management team access real-time data to ensure that departmental activities are in line with corporate objectives? Do you have the framework necessary to document a performance plan and review desired results, measures, and standards?
Step 2: Establish a common set of metrics across your company
Stay away from creating a variety of metrics, terms, and standards that can impair your organization’s ability to communicate effectively, meet compliance requirements, and combine data into a unified view. Instead, get buy-in from internal and external stakeholders on what to measure and how to measure it. Make sure your company-wide key performance indicators (KPIs) can help your management team make informed business decisions. And use an integrated software solution that can provide quick access to the right data, tailored to the appropriate stakeholders’ needs.
Step 3: Execute the plan
Management should determine what needs to be done and then deploy the right resources to the right activities. However, your IT organization should provide the tools and processes for analyzing and reporting all business opportunities and activities. Capture and organize relevant data so it can be quickly and easily accessed whenever needed. Unlock key business information so that management can make informed decisions regarding the effective allocation and utilization of resources and investments. Create a collaborative environment to monitor, manage, and analyze progress against corporate goals.
Want to learn more?
With these three steps, your organization can successfully negotiate, plan, and establish parameters for transformational data visibility. And for your business, that translates into quick, efficient response to market and regulatory changes. To learn more about integrating IT systems, read the report “Three Keys to Better Data-Driven Decisions: What You Should Know…Right Now” from Technology Evaluation Centers.