At Business DMS we have been working over the last month to overhaul our businesses data-centric audit. For our clients (especially new ones) this is a key product we use to establish a baseline for their business. In our last post we talked about the R-AAA model, this is the first “A” – Audit. If you missed it see here.
It is so vital for any business to know where they stand, what strengths their past efforts have yielded and where there are still room for improvement.
Some businesses try to do this in-house, some use financial or commercial analysts but a growing number of organisations committed to being competitive are starting to focus on data-centric audits. This is the key for businesses because every business problem has a data solution.
Why focus on data? At its essence all business decisions are data decisions, the difference is how you process it. Traditionally we have left it to people (employees/contractors) to interpreted a business scenario and act accordingly. The outcomes are as varied as the individuals making them, because everyone is different.
Amazingly, business data is much the same, except once captured it is far easier, with the right skill set, to build models and answer questions with positive outcomes, often fast and cheaper than employing armies of workers. This is what we refer to is the “data digitisation”, taking your business information, storing, processing and recalling it in a way we can use it to leverage your business.
Our goal with the Data-centric audit is to discover what data you are capturing, what you need to work on and then how we can interpret this data before finally committing to an action which leads to a positive outcome. The audit is the second step of this.
What the rest of the process looks like is a subject of another blog post, or maybe if you want to speed up the journey and get some more specific advice you can contact us directly below.
If you have any questions do not hesitate to ask.