A key activity for FP&A is to support business decision-making and recommend actions. I have worked with many companies that really got stuck here. Turn data into actionable insights. Welcome to COVID-19 Data Insights, which will complement the daily COVID-19 Cases in Virginia report with more in-depth analyses.
To point out the seemingly obvious: insights, information and raw data are not one and the same thing. Collecting data isn’t the hard part, integrating that insight into our business processes and operational models is incredibly difficult. A quick definition: data is raw and unprocessed information that you see in the form of numerics and text.
CGI’s Insights to Action report presents the insights shared by more than 1,550 executives across 10 industries and the actions we are taking to help clients achieve business outcomes in a … Based on surveying 49 Analytics experts I have compiled a list of the top 10 strategies to turn data into actionable insights. Not all insights are actionable though.
Actionable insights are not more information, or more data. But most functions spend too much time gathering and analyzing data to uncover insights, and not enough turning these insights into action.
As a summary, big data and data science are only useful if the insights can be turned into action, and if the actions are carefully defined and evaluated.
We see this as two loops: data to insights, and insights to action. And often the biggest driver of that change, isn’t the data but the champion or change agent that is willing to start the hard conversations about what action needs to be taken.
Explore our Catalog Join for free and get personalized recommendations, updates and offers. Being able to collect the right data is one thing, but making it extremely useful requires a different skill- and mindset. This is followed by the people- and process-driven downstream activities of defining and adopting actions, as well as building the tools and governance that support sustained engagement around these insights-based activities (Exhibit 3). 1. The first two action areas—data collection and data refinement—comprise the tech-heavy upstream activities. VDH will update the COVID-19 Data Insights as new analyses become available.We will continue to use the subscription service to distribute these Insights updates.COVID-19 Cases in Virginia remains the source for official COVID-19 statistics from the …