Are You Getting the Full Benefit from Your Actionable Data?
May 17, 2016
A good analytics platform can accumulate volumes of structured and unstructured data, but while collecting quality data about your enterprise is an important part of the process, the data itself has no immediate value. Although many organizations take pride in utilizing the latest technology to gather information, the value of the data isn't established until actionable insights are applied to business strategies for managing products and services. For communications expense management, it's a process where uncovering vital trends is essential for a company to better utilize their investment in technology.
To attain the level of business intelligence (or knowledge) needed to support good decision making, the objectives must be clearly identified and defined to qualify the data. After all, it is a misconception that more data automatically means better data and that actionable insights will miraculously appear. Knowledge obtained through properly applied actionable data analytics can, however, help an enterprise:
- Spot Billing Discrepancies
- Utilize Benchmarking Data
- Identify Unused Services
- Target Opportunities for Savings
- Monitor Usage and Logins
- Compare Usage to Industry Data
Having the ability to make timely decisions base on good analytics can give a company a better return on their investment which can lead to a considerable advantage going forward. So, the biggest benefits can be gained by keeping your analytics strategies clearly in line with your established business objectives.
Enterprises are under great pressure today to reduce their staff and improve the quality of their decision making while complying with an increasing number of regulations. This is a driving force in the decision to apply actionable data analytics to make decisions more transparent, auditable and repeatable. According to Gartner, a leading business research and advisory firm, the challenge comes from the fact that companies have far more data than their people have time. Since the amount of data being generated in constantly increasing, real-time intelligence systems are a must for remaining competitive, innovative and productive.
To learn more about applying actionable data analytics for communications expense management, contact the pros at Auditmacs. Our telecom audits typically produce ROI within four to five months; and our mobility assessments typically produce ROI within one to two months.