Developing a solid data foundation for stronger decision-making
TECHNOLOGY BULLETIN |
A comprehensive business intelligence solution can provide information and insights to enhance decision-making and develop a competitive advantage. However, developing a strong data foundation is a key first step to provide the basis for all types of reporting and analytics. The data foundation provides integrated, trusted and timely data from multiple, disparate sources to develop a single, trusted, understandable format.
A solid data foundation integrates a wide range of internal and external data, including largely untapped unstructured data sources such as social media and email. The foundation also enhances the accuracy, consistency and completeness of data, increasing trust in the integrated business intelligence initiative. In addition, a strong data foundation provides necessary, actionable data when it is needed, giving a significant boost to enterprise decision-making.
A robust data foundation can bring powerful benefits to an organization, including a one-stop spot for key data, a single version of the truth, a common structure and understanding across the organization and increased communication and collaboration. Unfortunately, the lack of a strong foundation can have significant consequences, such as multiple answers to the same question, difficulty making business decisions and wasted time collecting and summarizing data for reporting and analytics.
Developing a strong reporting and analytics platform can be truly transformational for an organization. However, the proper foundation is essential to deliver trusted, well-integrated and well-managed data for innovative reporting and analytics. For more information on developing and implementing a robust data foundation, read our white paper, The importance of a solid data foundation.