August 22, 2014 | Written by: THINK Leaders
Categorized: Data | Finance | New Thinking
That data must be accessible and reliable is already well understood. Companies with a culture built around data-driven decision making rely on the speed and accuracy of their information to make confident choices. But the form that data takes is equally important. Information must be packaged and delivered in a way that makes it easy to consume and share if people are expected to comprehend its importance and take appropriate action.
Many organizations create huge amounts of data, look at just a piece of it and interpret and act on that piece imperfectly. Different teams measure different things differently, with different tools—and then treat their data as proprietary. Some systems require trained personnel to access the data. And when that data is extracted, it is presented using 20-page reports that would have been more effective as three graphs.
The challenge is not to increase the quantity of data. It is to find the essential information hidden in the data, distill it and make it easy to understand and act on.