Most people have access to too many reports or the ‘so-called’ all in one dashboard. But when it's time to make decisions, it’s clear that the dashboard is not designed to move further into the data, to unlock deeper insights and do this easily.
Today we want to talk about 2 personas working with data
Whose management responsibilities include reviewing their business unit or team’s performance, and is finding areas to optimize
Who spends his/her valuable time building a dashboard or a report for every single question their business leader has.
First The Leader, there are a few questions you need answered:
1. How are we performing as a business, business unit or team?
2. What else should I know about?
Typical dashboards solve for #1, but when you are curious about a particular area and want to ask further questions, things fall apart.
So what do you do? Depending on your role and clout in your organization you either wait in the queue for the data team or alternatively, you can lean on your internal team. Who then have to scramble to get the data, export to excel from an existing BI system and build a report in the hopes it might fill the need.
More times than not, with either scenario you have more questions, and the team scrambles again!
Either approach relies exclusively on others, and is very costly from both a time and resources perspective. It takes large budgets to discover insights and lots of patience to WAIT!
Now let’s talk about The Builder.
As a builder, there are quite a few things you work on
1. Ensuring data is collected, transformed and loaded in a format that is available for reporting.
2. Ensuring the data is clean.
3. Learning and getting trained in the new BI tool that was bought by the organization.
4. Gathering requirements and executing on every single dashboard and report request, that “needs” to be built.
5. Addressing ad hoc requests for questions and building one-off charts.
This is not an easy job. Tasks #1 and #2 are necessary and essential components of this role and should take 90% of the time. These activities build the strategic foundation for an organization to truly be data driven.
This is not an easy job. Tasks #1 and #2 are necessary and essential components of this role, and in theory should take 90% of their time. These activities build the strategic foundation for an organization to truly be data-driven. But in reality, this is not what happens. Typical BI teams spend more than 75% of the time distracted by and bogged down by tasks #3, #4 and especially #5.
As a data analyst, I know firsthand the hours of conversations about colors, font sizes and the UI. And finally when the dashboard is delivered, I remember all too well how quickly the next change request would come for adding another chart. It’s an endless cycle of simple, yet frustrating tasks.
So, for making data driven, bolder and faster decisions, you as a leader are waiting for days or weeks for the dashboards to be built. Builders are sourcing data, designing detailed reports with funky visuals and charts, interpreting on behalf of the business, Developing -> Testing -> Deploying-to-production. That’s not all. Meetings need to be scheduled to review the new dashboard / report, which leads to leaders and their Teams having more questions. More meetings happen, more time is wasted… then finally a decision is made typically a few weeks or months later, OR NOT. Too often nothing happens and the dashboard is abandoned, and a staggering amount of time and money was just wasted.
As a data analyst and now also a leader managing teams and P&L, I have seen this way too often. The amount of time and money wasted!
A recent McKinsey study revealed that fast, high-quality decision-making processes link to higher returns. Slow and ineffective management decision making at an average Fortune 500 company could translate into more than 530,000 days of lost working time and roughly $250 million of wasted labor costs per year.
Now, imagine if every Leader was empowered to ask questions about their data and get the insights in seconds They would have the flexibility to be proactive and self-sufficient, while also allowing the Builders to work on larger more impactful projects.
Diana AI eliminates the need for building most reports and dashboards by providing a simple conversational interface to provide answers to your questions immediately. This not only eliminates the wait time and reduces the wasted hours, but also empowers leaders to make decisions faster, which directly contributes to higher returns.
At Diana AI, we believe data analysis needs to be SIMPLE, BI Tools need to be EASY, INTUITIVE and IMPACTFUL.