The ability to analyze data, or “data storytelling”, in more advanced ways has been out of reach for smaller companies due to cost, complexity and the need for extensive IT support. Triple Helix recognized this problem and has created a solution that reduces complexity and cost, to the extent that organizations can affordably take advantage of this vital and underused asset.
“We wanted to make it very easy for companies to solve business problems by using their data to discover what new insights can be revealed. Our new process for visualizing data is a collaboration with our customers and lets us show them the story their data wants to tell.”
J.P. Bittner, CEO, Triple Helix Corporation
Many companies still treat data as a liability, which is trouble in an increasingly data-driven world.
Turning things around doesn’t have to be difficult, however. Triple Helix recommends the following approach:
- Start by examining your historical data to reveal past company performance.
- Discover what factors have influenced your performance (as described in the data).
- Decide how your current situation may be improved by making changes (supported by the data).
- Measure these changes periodically to determine if changes create successful outcomes and if there are new factors introduced that need to be considered.
The ultimate goal in leveraging your data is to predict outcomes more accurately. This cannot be accomplished without data analysis. The analysis enables decisions to be guided by facts, not just gut instinct alone. Risk can be reduced, profitability can increase and customer relationships will strengthen.