For a manager, constantly making the right decision is almost impossible. Despite this, the ability of business intelligence to quantify every variable is leading to decisions becoming more data driven and accurate.
In fact, when visual data discovery tools are used as part of a wider business intelligence arsenal, the Aberdeen Group claims that "almost one-third more business decisions can be based on facts, not gut feel.” This means that managers are afforded more information to base their strategic decisions on and are less likely to create courses of action based on often-fallible intuition.
In a previous blog, we mentioned that managers using visual data discovery are 28% more likely to find timely information than their peers that use only managed reporting and dashboards. Now we will examine the other benefits of visual data discovery for business managers, how it offers a competitive edge and makes them even better in the increasingly fast and competitive world of business.
Visual Data Discovery: A Bigger, Clearer Picture
A business built on solid facts can be far sounder than one built on guesses and baseless predictions. When a manger needs to make a decision, they draw on all the information they can and synthesise it into a comprehensible set of data that gives them insight which they can base decisions on.
Visual data discovery alleviates the stress of a desperate search for enough information to work with; it allows the user to find information and manipulate it with ease, offering complete control. By having accurate information, the rest of the business can function at maximum efficiency. Visual data discovery allows managers to see the whole picture and not have to constantly account for the disjunction between the reality of the market and internal assumptions about it. From this increased clarity, managers can create more accurate and timely strategies for their business.
Empowering the User
The ease of use of visual data discovery is also key in its ability to make managers and their teams more self-sufficient.
By allowing users to have control over their data, businesses become more confident in their managers. Aberdeen claims that businesses using visual data discovery are 50% more likely to let managers initiate and drive new analytics projects than those that don’t. This is indicative of the changing face of business. As static reports without interaction are taken over by dynamic reports where the user can drill down on any information they want, the ease of use of visual data discovery is also key in its ability to make managers and their teams more self-sufficient.
It is important for managers to be able to disseminate necessary information to their team in a quick and comprehensive fashion. In a time scarce situation when a manager needs feedback from their team before final decisions are made, getting reports to them quickly and in an easily understandable format is imperative. Managers at companies that use visual data discovery are over three times more likely than others to be able to annotate and share reports and charts.
This threefold increase in information sharing gives any manager a competitive edge, empowering them to take ownership of important decision processes. By turning the process into collaborative decision-making, visual data discovery helps business intelligence software in effectively sharing information to concerned parties and getting the best collective result.
More Flexible Project Management
Half of those surveyed by the Aberdeen Group, report using more flexible project management approaches than traditional methods. 53% of companies employing Business Intelligence use an incremental approach to their projects to help ensure the project goals and requirements are identified and then adequately met.
This flexible approach to project management utilises the constant stream of valuable information that is easily found and distributed by users of business intelligence software and in particular visual data discovery. Flexible management allows your team more freedom to perform to their stregths and you more chances to leverage all your available resources.
Visual data discovery, ultimately, not only makes better managers, but also better businesses. For a more comprehensive look at visual data discovery and how it is changing business, download our free report by clicking on the button below.