The Shared Data Strategy: Connecting The Workforce to Business Plans
by Christian Ofori-Boateng on May 10, 2021 11:00:00 AM
One year into the pandemic and businesses are finally gaining a degree of comfort and understanding about operating in this new environment. Since most enterprises experienced dramatic halts or slowdowns of their operations, 2021 is showing itself to be the year of new beginnings for many businesses; even those few companies which appeared to weather this economic collapse with minimal negative impact have been wise to take this time to reevaluate their goals and approaches towards the purchasing public.
Recent surveys reveal that while, for 2021, a full third of all CEOs are preparing for a cautious restart, a greater percentage of executive leaders (a full 44%) are gearing up for faster regeneration of business to return to pre-pandemic activities and revenue levels quicker. Regardless of the aggressiveness of individual businesses, the atmosphere is still one of a more cautious and pragmatic approach for this year, due to the continuing uncertainty as it pertains to Covid-19 vaccinations and potential herd immunities in the future. Based upon the new and unprecedented methods in which businesses now operate, many thought leaders are now focusing on technology trends as they affect three key principles:
- Location Independence
- People Centricity
- Resilient Delivery
A noticeable acceleration in digital business transformation is concurrently taking place, for logical and natural reasons. Consequently, the visualization and rolling out of a solid data strategy is called for to take full advantage of the opportunity arising from this global crisis.
Developing a Data Strategy Aligned with 2021 Demands
The future points to leaner, smaller teams capable of performing at peak levels more consistently than in the past. CIOs can best serve and support their CEOs in multiple fashions, but especially in the following three areas:
- Collaboration - by working closely with the CEO, the CIO can gain full understanding of the path selected (restoration or redesign of business strategies), at which time it can be determined where and how digital efforts fit into the greater picture
- Scaling - there is less emphasis on experimental initiatives, with focus instead given towards mainstream efforts in scaling digital transformation, which in turn will support future growth by identifying and solidifying proper directions and actions to take
- Support - other C-suite executives can be supported, such as helping CFOs maintain appropriate cash levels or assisting COOs with ongoing employee productivity challenges and guidelines
Since the appearance of Covid-19, the push for accelerating digital business transformation has jumped significantly, with a full two-thirds of CEOs on board for faster and more comprehensive digital transformation programs and strategies.
The Data Strategy Revealed: The Power of Transparency
The development of smaller, more agile teams naturally and logically advances and promotes the concept of sharing the data strategy among all key players; in most cases and for optimal outcomes, transparency should be provided to every team player responsible for delivering results.
There are multiple benefits that yield to the business through the practice of true transparency as it relates to sharing and grasping the larger picture, including:
- Aligned Intentions - when goals are clearly delineated, and every player is privy to such goals, intentions among key are ideally aligned, meaning less backtracking or distracting meanderings
Avoid Confusion - in tandem with aligned intentions are clear goals and maps intended to make the journey less confusing and more enlightening as the business plan evolves and progresses
- Concurrent Goals - it is much easier to drive a wagon powered by horses when they are all heading in the same direction; in fact, by pacing in tandem, a team of horses can carry weightier freights with less effort and greater efficiency than individual pack horses could accommodate
- Easier Tracking - when goals are aligned in the minds of all involved players, a tracking system can be put into place which everyone can follow; this also allows team members to inspire and motivate each other to achieve greater results than initially anticipated
- Improved Support - it's so much easier to provide valued support to other players when everyone is playing the same game; a mutual understanding of challenges, frustrations, and obstacles means greater and more relevant empathy for the trials of teammates
- Synergistic Power - individual players can gain greater empowerment by merging their energy, inspirations, and focus with the rest of the team; such an intermingling only gets stronger over time as players learn more intuitively how others are driven to succeed and help nurture those drives
No longer should "transparency" be considered merely a buzzword to trigger people into action or create a sense of security and understanding. Transparency is the key to developing a true camaraderie among team members, helping each person to develop a "sixth sense" as it pertains to "reading" the energy and intelligence of each player, and aligning with their ideas and conceptions as it relates to the business plan.
A shared vision greatly increases the potential for higher revenues being generated from smaller, yet more effective teams. Data helps to build a more nuanced and interconnected workforce, allowing it to more effectively align with the direction your company is moving.
Power BI Delivery Via PBRS Automates The Process
Power BI fulfills this shared data strategy goal by providing team members with access to the data they need—when they need it, in the way they want to receive it.
PBRS allows you to schedule, automate, filter, and distribute your Power BI reports and dashboards in any format to unlimited end-users automatically. This automated delivery system allows administrators to “set and forget,” allowing IT to return to other priorities once scheduled.
Learn more about the convenience of automated Power BI Reports Scheduler by Christian to help keep your team updated with the latest information they need to perform at peak. Contact us to schedule a demo and get a free 30-day trial.