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Are you realising the value of digitised data to obtain the credibility from your executives?
A 1/3 of executives do not trust the data and analytics presented to them. The value of digitised data can be unlocked through the adoption of the DIKW model.
When organisations digitise they create a plethora of data formed by the outputs of practices and processes. This data is not that insightful if kept in its raw form. Many organisations do not have the advanced analytical tools and/or skills and experience to model the data into meaningful insights. This has caused a 1/3 of executives to not trust the data and analytics provided to them impacting timely, key decision making. As a result, organisations are not as effective and efficient as they can be due to the value derived from the data being trapped.
To unlock the trapped value of digitised data and make it credible with executives, the DIKW model can be applied to an organisations approach in creating insightful analytics. The DIKW model is an acronym for Data – Information – Knowledge – Wisdom. It supports a way of understanding the relationships between the stages of DIKW and shows how each of these stages builds on top of each other. This model is well publicised in the ITIL framework for maturing Knowledge Management and Continual Improvement practices however the model has been part of the language of inforamtion science for a very long time.
Transform Partners has identified a common pattern across multiple industries where organisations will capture the appropriate data but fail to process the data correctly. Organisations need to process the Data into information, synthesize the information into knowledge and then combine that knowledge with others to bring them wisdom. To truly gain wisdom, real-time analytics through performance dashboards is integral along with the skills and experience to visualise how wisdom should be generated from the data.
Transform Partners and Agile Analytics have teamed up to design and build an Enterprise Service Management (ESM) Performance Dashboard built on Microsoft Power BI for the BMC Helix Remedyforce platform. This dashboard has been designed with DIKW principles and key operational measurements for an effective governance framework to unlock the value of digitization across multiple front office and back office functions. The ESM Performance dashboard can support the generation of wisdom within Business Operations, IT, HR, Procurement, Finance and Facilities. This dashboard supports many operational practices and processes however is instrumental in improving customer experience and enabling continuity management and risk management within a hybrid working model where resources are working in the office and from anywhere.
If you would like to find out more about how Transform Partners are helping organisations with Consultancy services and Products to unlock the value of digital transformation and more specifically the digitised data, then please contact one of our specialists today:
Email: info@trasnformpartners.com.au
Telephone: 1300 778677 | 1300 PRTNRS.
