Amplifying the Value of Data Insights

Exploring Community-driven Analytics

Amplifying the Value of Data Insights

Exploring Community-driven Analytics

The desire to be data-driven is a uniting force for both data and business domain experts. This is why it’s no surprise that 97% of executives say their organizations are investing in big data initiatives to become nimble and data-driven. While this top-down mandate has become the norm in today’s business environment, most knowledge workers get shut out of the data conversation — and 39% of them don’t even know what it means to be data-driven.

This lack of understanding stems from the historical relationship between knowledge workers and data. Generating data-driven insights has traditionally fallen on the shoulders of the data and BI teams, not domain experts in marketing, sales, or operations. These data-focused teams largely function to support business teams — serving up reports and dashboards, and providing answers to ad hoc questions that arise.

Analytics requests get submitted and filled, which often takes days or weeks depending on complexity and competing priorities. Business teams are dependent upon those that write SQL — or another programming language — for the information they need to make informed decisions.

Nobody is happy about the imbalance this back-and-forth scenario creates. The constant waiting game breeds frustration, suppresses collaboration, and often results in business teams skirting IT compliance and data governance initiatives to use whatever data they can get their hands on.

Taking a new approach to A&BI that amplifies collaboration and the value of data

Analytics and business intelligence can no longer center around ad hoc requests, reports, and dashboards. Strategic A&BI leaders must align the data agenda to business objectives if they want to succeed.

The best way to do that is to bring business teams into the A&BI process, transforming it into a community-driven effort that extends the value of data, analyses, and insights across the larger business community. This includes internal teams, partners, vendors, customers, applications, ecosystems, and even entire industries.

Community-driven collaboration is not only a requirement in today’s business environment — it helps companies thrive.

Today’s agile organizations have changed the traditional nature of “jobs.” The workplace has become more specialized, with a renewed focus on more in-depth expertise in a single field.

What is Community-Driven Analytics and Business Intelligence?

Community-driven A&BI is achieved when data teams, domain experts, and business leaders alike have access to live, up-to-date data and can contribute to the data agenda. This ensures that data initiatives align with business objectives, and everyone’s unique expertise gets incorporated into the process. Community-driven A&BI harness collective intelligence to decrease time to insight, identify more meaningful metrics, and discover new ideas that improve business.

Jobs are turning into roles, roles are becoming more highly specialized, and the new currency of value is expertise, not simply experience.

Josh Bersin, Business Analyst 
Bersin by Deloitte

While collaboration has always been a crucial part of doing business, this new normal has transformed the makeup of business teams and shifted how individuals must work together. Today’s most successful companies like Amazon, Facebook, and Apple have redesigned their organizations to build dynamic, cross-functional teams that communicate faster and require more experts than ever. As marketing guru Seth Godin puts it, this has brought about the “end of the average worker.”

This fundamental shift in the way companies build teams and collaborate on business initiatives requires a corporate about-face as teams combine highly-specialized skill sets to achieve success. While this may not come as good news for the “average worker,” it has been a boon for corporate productivity. According to a joint study into 1100 companies, collaborative working means that businesses are five times more likely to be high-performing.

Technology is paving the way for closer collaboration within business communities, both within and outside organizations.

Corporate and team structures aren’t the only things that have brought about these swift changes. The rise of more remote and globalized workforces — and even stay-at-home pandemic protocols — have contributed to these trends. Meanwhile, technology has emerged to meet the challenges of highly-specialized and distributed workforces head-on.

In the old world, collaboration was all about physical board rooms, team meetings, and whiteboards. But today’s cloud-based technology stack has taken traditional collaboration tools to the digital realm. Today, 83% of professionals rely on technology to connect with their teams, increase productivity, and drive innovation and revenue. The cloud empowers employees within organizations and makes things more productive for partners and customers, allowing for closer collaboration throughout entire business communities, industries, and sectors such as A&BI.

In this eBook, we explore the role of community-driven A&BI in today’s business environment and how data and BI teams can use Sigma and Snowflake to:

  • Fuel more relevant and accurate insights by incorporating each team’s unique expertise into A&BI processes
  • Take a modern approach to data governance that powers deeper collaboration without sacrificing security and compliance
  • Accelerate time to insight and boost productivity by enabling teams to reuse and repurpose analyses
  • Extend the value of data analysis and insight to partners, customers, and industry leaders

Want to keep reading?

Learn how Snowflake and Sigma can help you take a community-driven approach to analytics.