More and more companies are realising the importance of a data driven culture in order to create a successful business.
What is a data driven culture? An organisation that empowers their employees with the skills and tools to effectively analyse data to drive decisions and strategy.
Businesses generate a vast amount of data every day. The larger and more complex the business, the more data that’s generated. The challenge is in sifting the wheat from the chaff – mining the information you need to make decisions, from the extraneous data and more importantly, making sure the data is clean and accurate in the first place.
Power BI, part of the Microsoft Power Platform, helps you consolidate and visualise your data to make well-informed decisions. It takes the guesswork out of running your business and lets you make strategic decisions with confidence.
Why is data driven decision making important?
For a company to be data driven, it requires more than having quality data. It needs the adoption of a culture and the tools to allow the data to be used to make decisions smartly and quickly.
Companies need to use the data they’ve collected to improve their processes. Data driven decision making has been proven to increase productivity. Research by Brynjolfsson, Hitt and Kim showed that firms who adopt data driven decision making have “output and productivity that is 5-6% higher than what would be expected given their other investments and information technology usage.”
For TravelEdge Group, a travel management company employing over 120 people, moving to Power BI has given them visibility of their data that they previously lacked. Clade helped the business move from manual, labour-intensive data gathering to automatic reporting across finance, sales, call centre and HR. Having live interactive data now guides TravelEdge Group in their strategic decision making to ensure they hit their KPIs and focus their business on running efficiently.
How does Power BI work?
Power BI pulls data from multiple sources across your organisation and consolidates it on one or more dashboards. The system can be tailored to give easy access to key information for different departments, teams, employees and even external customers if required.
It can publish your KPIs into one dashboard to give a live, interactive view of the performance of your department. Whether that’s financials for accounts, sales targets and wins for sales or employee engagement and satisfaction rate for HR, the information is available in real-time for informed decision-making.
Clade will work with you to understand and define the metrics required for each user profile, bringing to the forefront the information and insights that really matters.
Complex data made simple
While Power BI can benefit any business, it’s ideally suited to more complex businesses where the data is more than a few spreadsheets. Once the custom tailoring to set up the system is complete, it’s simple to use and everyone who has access can pull up reports at the click of a button.
As businesses grow, managing data becomes more of a priority. Fullerton Health are a prime example. In 2017, Fullerton Health acquired Healthscope’s operations. With over 800 people in their organisation, they not only needed to integrate systems from two companies but also needed to improve their financial reporting visibility. They’d previously relied on data collected manually – the data entry and extraction from systems took a long time and resulted in data that wasn’t clean or reliable.
With Clade’s implementation of Power BI for Fullerton Health, they now have 18 KPIs available in one report at the click of a button. If you’d like to know more about how they managed the transition, read the case study.
Increased employee engagement
Having all the data in one place in an easy reportable format cuts down manual reporting times, increases productivity, and allows your employees to focus on the job at hand whilst you can view the information any time you need rather than weekly, monthly or quarterly.
Previously TravelEdge Group had no HR reporting capabilities, but the implementation of Power BI has allowed them to track employee performance and use programs like staff ratings and employee of the month to improve engagement. To read more about how Clade helped Travel Edge, read the full case study.
Clade have also helped customers like Catholic Schools NSW, JMC Academy, Primary Health Network and St George Foodservice change from their old manual reporting systems to simple, effortless reporting using Power BI.
Power BI allows companies to put metrics in place that they may not have previously had, improving transparency and allowing for more efficient processes. That efficiency in turn leads to a more productive and successful business.
Clade can help transform you to a data driven culture
Clade have helped many companies implement Power BI as part of their transformation to a data-driven culture.
Anyone can implement a dashboard but very few can do it well.
If you’d like to find out how we could help you shape your company culture and drive success, give us a call on 02 8059 7100.