We’re shining a spotlight on the importance of Data Analytics & Visualisation.
We spoke to one of LanciaConsult’s Singapore Principals, Melissa-Anne Boschmans, to hear amazing insights from an expert.
Melissa-Anne started her career working in actuarial audit support, shifting over time to using the mathematical, statistical and problem solving skill sets in the Data Analytics & Visualisation space. She especially enjoys seeing how creative and innovative people can be in solving some of the most challenging problems we face when provided with the right data evidence.
Hear what Melissa-Anne had to say in her own words.
Q: What is Data Analytics & Visualisation?
A: Data Analytics & Visualisation can mean different things to different people. Data analytics for us at LanciaConsult is simply examining, combining and transforming complex datasets to generate insights to support decision making. This could be as simple as operational reporting to more complex forecasting and predictive insights.
Visualisation is ensuring that these findings are then communicated to end users in an intuitive and easily consumable way.
Q: Why is data analytics & visualisation important to modern-day businesses?
A: With the explosion of data available, Forrester research found that there is still around 97% of all data in organisations which goes completely unused. This is a significant missed opportunity.
It can be overwhelming to grapple with where an organisation should start the journey of understanding and using data for more than just operational reporting.
With some key use cases and by leveraging data already freely available within your business, organisations can quickly generate actionable insights to support data-led decision making, enabling people and organisational growth and transformation.
The analytics technology and approach you use can start with simple processes and an architecture that just uses cost effective visualisation tools which can be scaled to end-to-end enterprise levels as the business need, engagement and buy-in grows.
Q: Where can data visualisation & analytics fail?
A: Some key areas where I have seen Data Analytics & Visualisation initiatives fail is -
- Starting too big - Rather start with very clear proof of concepts.
- Starting with a use case which is nice to have - Focus on use cases which are impactful for day-to-day decision making. This helps to clearly demonstrate the value of a larger programme.
- Not accounting for inherent biases in the data – Biases in the data often come from human sources of data which are unrepresentative. An example often cited relates to medical data sets which tends to underrepresent females and people of colour which have led to incorrect conclusions and treatments.
Ultimately, insights you generate are only as valuable as the quality and accuracy of your underlying data.
Q: What makes good data visualisation?
A: Ensure you understand your audience and data so that you can:
- Choose the right visual for the data type
- Use shapes to help visually echo your story
- Use colour to emphasise information but keep it simple
This should allow you to effectively convey connections and therefore identify opportunities too complex to see in the raw data or explain in words.
Q: What are the best data visualisation tools for 2023?
A: The best tools are really those which suit the organisation's maturity, complexity, infrastructure and needs.
There are many options available, at LanciaConsult we work with many different tools, but we focus on working with our clients to help select the best fit for our clients based on where they are in their journey.
There are some key considerations:
- Be use-case driven or else your project can become overwhelmed with development which is not impactful – ensuring there is a genuine business need to make the most effective use of your resources.
- Including your business analysts or developers who have a clear understanding of data availability and your data model in early discussions to ensure the viability of the use cases prioritised.
- Don’t underestimate the importance of change management to ensure that users understand the data and are included throughout the development process. This allows them to build trust in the credibility of the data and empowers them to immediately implement what has been developed.
Q: Why is LanciaConsult the best place to support clients in their data analytics & visualisation projects?
A: At LanciaConsult, we start with the data you have readily available to help you answer important questions quickly, ensuring value upfront.
This is supported by understanding your overall digital transformation and technology strategy, so that as the organisation continues to grow, the development roadmap ensures that your data architecture, data analytics capabilities and future way of working continue to support the business objectives.
If you would like to understand more about how we can support you in your Data Analytics & Visualisation journey, CONTACT US today.