What is Data?
Data refers to any piece of information or facts that can be collected, recorded, stored, and processed. Data is essential for understanding and making informed decisions in various fields, including science, technology, business, research, and everyday life.
To make sense of data, it often needs to be processed, analysed, and visualised to extract meaningful insights, patterns, and trends. This process is known as data analysis, and it can provide valuable information to support decision-making and problem-solving in various domains. Data-driven decisions can only be made with a clear and singular view of the data itself – this need can be met with data engineering and analytics.
As a business scales, so does the amount of data that needs collecting and analysing using older methods cannot keep up with the volume of data, leaving gaps for error. Data transformation is the process of converting data into an alternative format or model. Doing so can bring many benefits including scalability, cost savings and speed of delivery to your business. Implementing data enables you to forecast faster and more accurately, gain insights into your customers’ behaviour, shorten process cycle times, improve data integrity and quality or extract data from multiple sources across the business.
The importance of data solutions in achieving business goals
For example, one of the objectives of our partner was to build a unified platform, referred to as the “Single Platform,” to streamline data movement and enable efficient data analysis. This platform aims to provide several benefits to the business, including:
- Tracking PnL (Profit and Loss) on a daily basis: The One Platform enables the tracking of company-level profitability and financial performance. This allows the business to have a clear understanding of its financial health and make informed decisions based on up-to-date information.
- Support decision-making on different levels: The Analytics Platform within the One Platform empowers decision-making at various levels within the organisation. This includes corporate-level decision-making, strategic decisions for different business lines, and even team-level decisions. By leveraging data-driven insights, the business can make well-informed choices that align with its goals and objectives.
- “Data as a Service” solution: The One Platform is designed to operate as a “Data as a Service” solution. It acts as a centralized hub where data from transactional services is efficiently moved to the Analytics Platform. This ensures that data is readily available and accessible for analysis by Data Scientists, the back office, marketing team and can be leveraged to develop data products.
- Standardized business processes: The One Platform serves as a unifying force within the organization, standardizing business processes and enabling cohesive operations. Instead of operating as separate programs or businesses, the One Platform fosters an integrated approach, promoting collaboration and synergy across different teams and functions.
Overall, the benefits of the Single Platform revolve around improved financial tracking, data-driven decision-making, efficient data management, and standardized business processes. By leveraging this unified platform, the client aims to enhance its operational efficiency, gain valuable insights, and act as a cohesive organization rather than a collection of disconnected entities.
Another example is a client’s intention to build their own reporting platform. The focus of the engagement is to build a Data Analytics Solution specifically for analyzing and reporting on a large number of key performance indicators (KPIs) related to marketing campaigns launched on Facebook Ads or Google Ads platforms.
Benefits to the business include:
- Development of a new solution for data gathering: The implementation of the Data Analytics Solution allows for the efficient collection of data from Facebook Ads and Google Ads platforms. This ensures that all relevant campaign data is captured and available for analysis, enabling the client to gain insights into campaign performance.
- Tracking KPIs and supporting decision-making: The Data Analytics Solution provides a means to track and monitor a wide range of KPIs associated with marketing campaigns. This allows the client to have a comprehensive view of campaign performance, measure the effectiveness of different strategies, and make data-driven decisions to optimize future campaigns.
- Reporting dashboards and scorecards: The Data Analytics Solution includes reporting dashboards and scorecards that visualize and analyze the collected data. These visualizations provide a clear and concise representation of campaign performance, making it easier for stakeholders to identify trends, spot opportunities, and uncover valuable insights. The dashboards and scorecards enable efficient and effective communication of campaign results across the organization.
Overall, the implementation of the Data Analytics Solution for analyzing and reporting marketing campaign KPIs on Facebook Ads and Google Ads platforms empowers the client to make data-driven decisions, optimize campaign performance, and uncover valuable insights. The solution enables efficient data gathering, comprehensive tracking of KPIs, and effective visualization of campaign data, ultimately contributing to improved marketing effectiveness and business success.
Understanding Your Client
To understand what a client needs at his moment we should always consider this pyramid and know on which layer our clients are located now. This understanding allows us to propose proper service to the client to help them achieve their business goals.
The “Knowledge Level” is the highest level of the Pyramid and involves using data to recommend actions that will optimize outcomes. This level is typically achieved by more mature organizations with advanced analytics practices and a strong focus on data-driven decision-making. The number of businesses at this level is likely to be the smallest.
Usually, Godel works with clients who achieved the first 3 levels and helps them build the Data Lake / Data Warehouse, integration with various data sources, reporting using drill-down and data exploration techniques and statistical and machine learning models to make predictions about future events.
Customising Data Solutions to fit client needs
Godel proposes cloud services like Amazon Web Services or Azure Services to our clients to provide businesses with the flexibility and customization they need to optimize their data solutions while managing resources and costs effectively.
Cloud solutions with AWS and Azure empower businesses to design, deploy, and manage customized data solutions that align with their specific needs and goals.
For example, Godel considers the following data solution architecture as a starting point of collaboration with the clients and customizing it with respect to the business requirements.
- Data helps to improve decision-making: Data solutions provide businesses with valuable insights and analytics that can drive informed decision-making.
- Customer-centric approach: Data solutions enable businesses to understand their customers better and tailor their products, services, and marketing efforts accordingly.
- Competitive advantage and innovation: Data solutions enable businesses to stay ahead of the curve, identify emerging trends, and seize new opportunities.
- Cloud solutions offered by platforms like AWS (Amazon Web Services) and Azure (Microsoft’s cloud platform) provide businesses with the flexibility and customization they need to optimize their data solutions while managing resources and costs effectively.
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