The Real Reasons Your Insights aren't Producing Opportunities — and How to Fix it
We’ve all been there. After spending weeks building a new dashboard with the hopes of finding the answers to all of our questions, we end up with lackluster insights that only confirm what we already know.
On the chance you do find an “aha moment” deep within your data, how often can you say you get to act upon it? According to Accenture, only 25% of employees feel prepared to effectively use data. So more often than not, those “actionable insights” sit in the backlog and rarely contribute to future progress.
For insights to be truly valuable, they need to create opportunities that lead to action. An opportunity, by definition, is a set of circumstances that make it possible to do something. The ability to identify insights and move them into opportunities that can be successfully executed is what truly makes a business data-profitable.
How to Move Data Insights into Opportunities
For businesses to move insights into opportunities, they must have a clear workflow for prioritizing insights based on their monetary impact, moving them into action, and tracking the realized return over time.
Unfortunately, for organizations relying on traditional data analysis processes, creating an opportunity workflow is easier said than done. Data Scientists spend 80% of their time preparing data (their least favorite part of the job) leaving little time to interpret the data.
The need for a better process is imperative, which is why many analytics teams are turning to AI to alleviate more and more of the data preparation. By flipping the script on traditional data analysis, businesses are spending less time on data preparation and more time finding, prioritizing, and tracking revenue-generating opportunities, otherwise known as Data Capitalization Management (DCM).
Driving Opportunities with Data Capitalization Management
Unsupervised is the first Data Capitalization Management platform automating the analysis of complex data, insight generation, and ROI tracking so organizations can improve critical KPIs and capture clear monetary value.
Unsupervised leverages unsupervised learning to surface super-specific insights from deep within a dataset. Because this type of machine learning doesn’t require labeling, it helps to reduce bias from the insights surfaced. No longer are insights constrained within the questions businesses thought to ask, instead, potentially unknown insights are surfaced by the AI leading to the discovery of new and exciting opportunities for the business.
Organizations can then leverage the Unsupervised platform to assign monetary value and track the progress of opportunities identified. By delivering that last mile of analytics allowing teams to collaborate and prioritize their most impactful insights within the platform itself, it holds companies accountable for the execution of the created opportunities. From there, teams can track the return on investment of their initiatives and see their data turn into actual dollars.
Finding insights is only half the battle, teams that can move those insights into opportunities tied to critical KPIs are more likely to execute on those opportunities. This is how brands set themselves apart from the competition and become data-profitable.
Ready to become data-profitable by moving more insights into opportunities? Speak with one of our Unsupervised experts today.