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How to get Business Users Comfortable with Data
Data plays an immensely significant role in virtually every facet of modern business. As of 2023, there are more than 94 Zettabytes of data in the world, while it’s also estimated that 2.5 billion gigabytes of data are created worldwide every day.
Research in 2016 showed that the average company manages in excess of 162 terabytes (TB) of data, while the average enterprise manages well over 347TB of data. However, in recent times, with just over 97% of businesses investing in Big Data and artificial intelligence, the average organization today already manages far greater volumes of data than the figures reported from 2016.
Data, therefore, plays a significant role in shaping and defining modern business. As such, it’s important for every employee to have a degree of comfortability with data in order for them to do their job effectively. However, for certain individuals, such as Business Users, being comfortable with data isn’t simply a nice-to-have but an absolute necessity. Defined as non-technical users who have access to privileged accounts as part of their daily responsibilities, Business Users are typically CFOs, CEOs or Directors but can also include any employee who interacts with data or uses data to make decisions.
It’s essential for Business Users to have confidence in data as doing so allows them to feel assured that their actions and decisions are correct. Data confidence allows Business Users to trust the data that they see and use it to positively impact customer satisfaction as well as the performance of the entire organization.
3 Ways Business Users will benefit from data confidence
Throughout this article, we will highlight three ways Business Users can benefit from data confidence. Be sure to stick around to the end to see how using Astrato also helps build data confidence amongst Business Users.
Data accuracy is immensely important to helping Business Users gain data confidence. When data is accurate, Business Users are more likely to make better decisions based on that data. In turn, the positive outcomes of their data-driven decision-making will lead Business Users to trust data again, which builds data confidence.
Conversely, the exact opposite happens when data is inaccurate. Business Users are less likely to trust data after making a bad decision based on inaccurate data. According to a study by Gartner, organizations believe poor data quality is responsible for an average of $15 million per year in losses. Inaccurate data and poor data collection also have numerous implications for customer service, customer experience, data analysis and, in extreme cases, even the viability of the business overall.
For example, a local or small business that relies on a smaller pool of returning customers is dependent on delivering a positive customer experience. However, suppose they fail to accurately capture and store customer data. In that case, they’re unable to conduct any meaningful analytics on their data, which in turn could mean that important customer suggestions or complaints go unnoticed.
Improved decision-making is the number one benefit of Business Users having confidence in their data. With data confidence, Business Users are able to trust the data that they see and are then able to use it to create an effective marketing strategy, and make informed decisions that benefit their organization.
Having data confidence can lead to an increase in efficiency as Business Users and business leaders can take the data presented to them and use it to identify areas of their business that could do with improvement.
By using data, Business Users can minimize and eventually eliminate inefficiencies in their processes. Research shows that businesses can lose as much as 30% of their revenue on average due to inefficiencies.
Improved outcomes for your clients & customers
One of the final major benefits of data confidence amongst Business Users is the impact that it will have on their clients and customers.
As highlighted previously, a business that has confidence in its data is more likely to trust the results of surveys, market polls and general usage data. By placing their trust in this data, organizations are not only able to make improved decisions but will also be able to implement changes to their existing products as well.
Confidence in the data gives businesses the assurance they need to develop new solutions that cater to the demands of their clients and customers. Crucially, by leaning on data (and subsequently having data confidence), businesses are able to identify potential customers and even run predictive analytics to develop customer experience enhancements BEFORE their clients/customers even make a suggestion.
How Astrato builds Business Users’ Data confidence
Powered by a no-code framework that welcomes everyone from the most technical of users to the less digital savvy, Astrato is a powerful Business Intelligence platform that allows users of all skill levels to create compelling data visualizations.
Due to its approachable no-code framework and intuitive user interface, Astrato is the perfect platform to help instill data confidence throughout your organization. The Cloud-based nature of our data analytics tool also enables it to be used anywhere, anytime, making it perfect for Business Users to familiarize themselves with the platform wherever they are.
With Astrato, data can be analyzed directly from an organization’s source instead of being moved to our servers, making our analytics platform compliant with data privacy and data collection rules. In addition, Astrato also allows users to conduct analytics on live data in real-time, allowing businesses to react to changes in their models as they occur. Real-time data analytics helps to foster data confidence as it allows a business to see what is happening using the latest & most up-to-date information. Business Users can then make innovative and informed decisions before their competitors do.
Interested in learning more? With assistance and support from expert Astrato Solutions Consultants, see for yourself how Astrato can help your organization build data confidence by taking advantage of our free trial. Start your free Astrato trial now!