Skip to main content
WONEX.com

Analytics

INHX

TRANSLATE DATA INTO INSIGHTS AND INSIGHTS INTO ACTIONS

  • Reliable real-time data is just a starting point - the goal is actionable triggers towards faster and better decisions that convert into advantages to outgrow expectations and competition
  • HX helps you continually build and enhance analytical capabilities where incrementally higher portion of your mindshare and staff bandwidth are deployed to more strategic and growth oriented tasks - leaving administrative data processing waste and worries to rest

 

BAD DATA COSTS ENTERPRISES A LOT OF MONEY PER YEAR

  • Fifty years after the expression “garbage in, garbage out” was coined, we still struggle with data quality. - Harvard Business Review (https://hbr.org/2013/12/datas-credibility-problem)
  • A sends data to B who checks data and circles back for clarifications, gets revised data and still makes corrections before analysis
  • To meet deadlines, data used for analysis is still not fully reliable - errors pass thru and many assumptions are made to move forward
  • Story is repeated - manual data processing is highly risk prone
  • Incorrect data infects decisions and operations… that adds significant costs to business in damages, rework and workarounds… people just make it their way of life and live with it even without flagging it for attention
  • It is not surprising to find leaks and cracks in the most obvious places
  • Bad Data = Poor Decisions = Serious Damage

 

3 STARTING POINTS TO BUILD GOOD DATA DISCIPLINE BOTH WITHIN AND BETWEEN BUSINESSES

  • Source data from point of creation i.e. transactional records: Transactional data hygiene tied into all regulatory and reporting mechanisms with end-to-end process controls
  • Put responsibility for data in the hands of line managers: Data is a culture that pans across the network - not a role assigned to a select few
  • Fix the metadata (data about data) to make the right correlations and conclusions: Puts data in perspective: Gets everyone on the same page on understanding the true purpose behind capture and analysis of data
  • One Platform = One Data

 

FROM REPORTED DATA [MOSTLY-STALE] TO REAL-TIME DATA [ALWAYS-FRESH]

  • Preserving data integrity
  • Reported data is mostly stale: Data reports beyond the enterprise come with lags-n-gaps i.e. delays-n-errors | Discipline failure may also be intentional to avoid accountability and/or measurement
  • Real-time data is served fresh: Transaction system cannot be different/ delinked from the data analysis engine | One platform optimizes resources and minimizes hassles for all businesses in the network

 

DATA DRIVEN DECISIONS: GENERATE UNPRECEDENTED INSIGHTS AND ACCELERATE ‘TOTAL’ UNDERSTANDING

  • Live real-time data offers limitless possibilities to improve decision making
  • Available on-demand at point and time of need, it empowers leaders and staff to do the right thing
  • When data are unreliable, managers quickly lose faith in them and fall back on their intuition to make decisions, steer their companies, and implement strategy. They are, for example, much more apt to reject important, counterintuitive implications that emerge from big data analyses. - HBR - Data’s Credibility Problem [https://hbr.org/2013/12/datas-credibility-problem]