You have mountains of data, but do you know how to climb?

In 2022, technology has enabled businesses to accumulate reams and reams of data. But how much of that data is clean, accessible, and applicable? We’ve built up mountains of wild, uncultivated terrain without marking or even clearing the path to the top. It is as if we’re bushwhacking our way through the data, trying to cut around the weeds, rocks, and debris just so we can see clearly enough to take the next step.

When data is disorganized, “dirty,” or in overwhelming quantities, it is nearly impossible for users to harness it quickly and effectively, costing companies time, resources, and money.

You can’t keep throwing bodies at the problem, hoping the tech team will magically sort through the discrepancies and mistakes in your data. It is time to take ownership. To truly drive operational scale and improve our data usage, you should deploy the use of data visualization technology.

TAKE CONTROL OF THE DATA

Without consistent, coherent data systems and dedicated digital governance, companies can face discrepancies that thwart the successful implementation of data analytics. More often than not, multiple teams within one company use different data systems and do not know how to communicate cross-functionally—employees end up relying on siloed data, leading them to uninformed conclusions and stalled processes. Data visualization tools like Power BI or Tableau centralize data so that everyone is speaking the same language and working with the same information.

Even so, implementing such tools requires clean data. Bad data can creep into any pipeline without strong governance, and it can render any information gleaned useless. As the adage goes, “Garbage in, garbage out.”

To address this problem, my company has set up a data-governance council that includes key members of each team in our business. This council does many things: As new data initiatives come up, we run them through the governance council to ensure effective implementation. It has also worked to clean up old data and locate where data is being sourced from, clarifying discrepancies and muddled lines of communication. Over the course of this past year, we have built an entirely new data architecture on the back end, moved our workload to the cloud, and are working toward system unification.

We have more data than ever before, but it is not enough to merely accumulate it. Dedicate time and resources to establishing digital governance to ensure the data you are using is clean, consistently implemented, and universally understood.

EMPOWER USERS

The tech team is not solely responsible for the quality of our data—we all need to take ownership of and champion the data we use. Visualization tools bridge the gap between the tech team and the business team, doing away with barriers to entry and enabling end-to-end analytics. In this way, you can empower employees to immerse themselves in and take ownership of the data at hand.

Users no longer have to submit a request to the tech team to create a report and twiddle their thumbs until it comes back. They can now take initiative and do it themselves, creating a more streamlined process and a more informed group of employees who can work quickly to make data-driven decisions. Furthermore, when you empower people to take control of their data and ask their own questions, they may uncover new insights they would never have found when presented with pre-packaged reports.

With clean datasets and powerful software, employees are no longer beholden to a Slack message or email chain to get the data they need. They can self-serve, creating a powerful community of super-users across the company who can take your data analysis to the next level. It will, of course, take time to train employees on new software, and you may be met with resistance, but if you put in the effort to educate your employees on the power of these tools, your employees and your business can reap incredible rewards.

UNLOCK INNOVATION

Utilizing data visualization software allows companies to untangle what was once a jumbled knot and begin to harness the data to its fullest potential.

I have seen this firsthand in my work. By deploying visualization tools and prioritizing clean data, my company has been able to fuel an entirely new level of operational scale. For example, it used to take our team over an hour to invoice a client, and we have now streamlined the process so effectively that it takes less than a minute. Closing the books each month used to be close to a two-week process for the finance team, and they can now do it in two to three days. Across the board, the quality of our work has increased exponentially while simultaneously decreasing the amount of time it takes to complete it.

How quickly and smoothly could all of our companies run if we properly stored, analyzed, and implemented our data?

THE ART OF THE POSSIBLE

Before we forge blindly ahead with the tactics of the past, we need to step back and think about how we can use technology to harness the data at our fingertips.

It is all too easy for companies to become fixed in their ways, assured that the way they have always done things is the only way. I have been guilty of it myself. However, if leaders don’t branch out of the old ways of thinking, we may be left behind, kicking our heels in the dust as companies thinking outside the box increase productivity and drive innovation. As leaders, I believe it is on us to step out of fixedness and envision the art of the possible.

You may have accumulated mountains of data, but that does not mean you have to climb them without a map, compass, or proper pair of hiking boots. The hand-me-down systems of the past are no longer serving you. Harness the technology of the future and begin clearing the path forward—there is an incredible view just waiting to be found when you reach the summit.

Jeanine L. Charlton serves as Senior Vice President & Chief Technology & Digital Officer at Merchants Fleet.