With the wealth of KPI information that is available since the birth of the internet and eCommerce platforms, many retailers and manufacturers are using search analytics to accomplish data democratization.
Data democratization, in layman’s terms, is the act of providing unfettered enterprise-wide access to company data. There are many benefits to data democratization, one of which being that accelerated access to data benefits the entire organization.
However, it can only be successful with a self-aware data program in place. The end users must understand the data that they’re viewing, and also have a firm grip on the data security protocol.
Search analytics can be used to inform data visualization tools that allow for an easy understanding of the complex analytics that matter to an individual business. Dashboard display can then visually track, analyze, and display KPI metrics in colourful graphs and charts, making it simplified and possible for all end users to understand the data, not just data analysts. The dashboard tracks the KPI metrics by linking up to your files, services, and attachments, then computes the raw data taken from them, and the output is in tables, line charts, and gauges that can be viewed from one simple dashboard.
Search analytics are an efficient way to monitor multiple data sources, such as the KPI metrics of multiple departments within the company, to then offer the answers in real-time to the end-user. The real draw is the fact that it makes the data easy to read so that even people who aren’t data analysts can get a full snapshot of the state of the company. Search analytics help to save you time by efficiently culling the KPI metrics that are being requested, instead of returning walls of data that must be further broken down and reported on by data analysts.
Search analytics can track data from sales, marketing, social media, supply lines, and much more. For example, through data visualization, a popular analytic can inform a graph reflecting the actual return on marketing investment. A dashboard can then be set up to track KPI metrics with a social media chart, and a separate SEO performance chart, both visible within the same dashboard.
This same strategy can be used to feed an executive dashboard setup. Often, for company executives that need to have large amounts of data in front of them at all times, the executive dashboard will feature KPI metrics like financial performance, production status, executive reports, QuickBooks, and sales performance boards. These are just a sample of the available KPI metrics that can be analyzed and graphed for your dashboard, and the list of available metrics is quite extensive.
If your company is considering employing search analytics to accomplish data democratization, you’re on track to have a complete, real-time view of the company performance. Search analytics make it possible for everyone in the organization to have a clear snapshot of the standing of the company, unlike the data analyst number-crunching days of the past.
Democratizing data supports widespread data-informed decision-making and increases organizational efficiency. BI and data analytics apps can help you get there. Microservices and dashboards now provide plug-and-play options for non-data specialists to understand different data stores. Thus, a successful data democratization program needn’t require employees who have data science degrees.
In fact, quite the opposite is true.
The key is developing a company culture in which analytics is an inherent aspect of standard operating procedures for all appropriate individuals. Ultimately, what’s required for democratization to reach its full potential is a more coordinated and holistic approach, delivering enterprise-wide intelligence that drives revenue growth.