Data Reporting | Analysis | Insights & Prediction | Visual Design
Difference between data reporting & analysis, insights & prediction is a gradually interpretation of the data.
At Purple Vibes, we differentiate between data reporting & analysis and insights & prediction by the level of data interpretation. Data reporting & analysis provide a visual representation and comparison of data, offering context and foundational insights. Insights & prediction, however, integrate industry and market knowledge to uncover trends and patterns, helping you better understand your business model and inform strategic decisions for future growth.
Data Reporting &Analysis provide the foundation & context, while Insights & Prediction guide strategic decision-making & future planning.
Data Strategy
We help you develop a tailored data strategy that outlines how to effectively manage, store, and analyze your data. Our approach ensures you can leverage data to drive better decision-making, optimize operations, and achieve your business goals with precision.
What is Data Strategy?
A data strategy encompasses managing, storing, collecting, and conducting data analytics to achieve business objectives. By centralizing your data, we improve structure, organization, and access for your teams. Our approach ensures better data management, providing deeper insights into your business environment, goals, and performance. With a clear data strategy in place, we enhance your reporting, making sure everyone understands the meaning and purpose behind the data used, driving smarter decisions across your organization.
How can you find out more about your data ?
- Conduct a SWOT analysis to gain an overview of your current situation.
- Define a roadmap and set clear business goals.
- Share your business vision and expectations with team members, and implement agile working practices where possible.
Why is Data Strategy important?
A data strategy will enable you to make faster, more informed, and better decisions than before, as it provides a big-picture view of how your company understands and utilizes data.
Here are a few important steps to consider regarding data:
- Review your current strategic data and determine if any changes are needed.
- Clean and reorganize your data.
- Use data to make better decisions and reduce financial losses.
- Analyze data to understand your customers and conduct market research.
- Identify the most suitable tools to help improve your services and products.
- Redesign your business processes and incorporate automation to increase efficiency.
- Gain data insights to identify patterns and exceptions, and learn how to manage them.
Data reporting is the first step in a data strategy and is the minimum requirement for every company.