3 Ways to Get the Most Out of Your Small Data

Download 3 Ways to Get the Most Out of Your Small Data

Post on 13-Jul-2015

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  • Ways to get the most

    out of your small data3

  • What is small data?

    Small data is created by individuals and typically lives on an individuals computer, shared drive, or personal database.

    Field data, marketing campaigns, forecasts, budgets, project-specific, person-specific, or location-specific information can all be considered small data.

    Just because its small by name, doesnt mean it doesnt pack a big punch. Tremendous value can be gleaned from centralizing, standardizing, and reporting small data captured by business users.

  • 1. Collect Complete, Error-free data

    2. Standardize Your Workflow

    3. Effectively Report and Share Insights

    How to get the most

    from small data:

  • 1Collect Complete, Error-free DataMany companies still rely on Excel spreadsheets to collect or consolidate information across locations, departments, or individuals. Excel is great when working with a single user, but becomes complicated when many users need to update the same spreadsheet. Data can easily be overwritten or lost entirely.

    In a Carnegie Mellon University study that surveyed 45 executives and senior managers, the two most common types of errors in spreadsheets were inaccurate data (76%) and errors inherited from the reuse of spreadsheets (49%).

    Be sure that your information is accurate and complete by standardizing the data, not just the format for data entry, but the actual columns and fields collected. If youre missing pieces of the puzzle, you wont be able to effectively analyze your data or create new strategies with confidence.

  • 2 Standardize Your WorkflowComplete and accurate data is the first step, but how you collect your data can have a big impact on quality too. Manually formatting or updating information, usually within Excel, wastes time and introduces human error.

    Ideally, youd want a completely automated system for collecting all of your information. To start, you can identify any weaknesses in your current data-collection process and empower your team with tools designed to help.

    Take your business systems into consideration, as well. If separate business systems speak different languages, it can be difficult to transfer, standardize, and centralize your information.

  • 3 Effectively Report and Share InsightsA company changes with every cost, every sale, and every campaign. Your business is a living entity. If your data updates in real-time, shouldnt your reports? If your reporting process cant keep up with changing data, then strategies become moving targets based on assumptions, guesses, and old data.

    Additionally, companies can run into problems when sharing sensitive data. If someone from Team A shouldnt see Team Bs information, then generating specific reports for each team can become a risky and laborious proposition. Conversely, if user-specific reports are not generated then users have to mine through irrelevant data to find what is useful.

    The process of collecting data and generating reports should not be arduous and time-consuming, yet organizations that rely heavily on Excel complain about its shortcomings. If you do rely on Excel for reporting, remember that that Excel was not designed to quickly and easily slice and dice data among many people.

  • The Ideal SolutionWhat if you could validate data, standardize collection and workflow, and share reports based on user-specific permissions with a single tool? Wouldnt that make small data more manageable and effective?

    You could standardize data-collection to save time and reduce errors. Unlike Excel, users wouldnt be locked out or able to change someone elses data. Multiple users could input information into a single location without the need for sharing files, and your workflow would be less complicated and more accurate.

    You would have dashboards and reports that automatically update to reflect real-time data changes, and you could share these reports with user-specific permissions to control what everyone sees. You would also be able to drill down at a granular level to see the metrics that are important to you.

  • Get the most from your

    small data

    UQube streamlines data collection, sharing, and reporting information into a

    central location. Your small data will be more accessible than ever:

    Run reports that reflect real-time data updates Set permissions to control what people see Benefit from familiar Excel-like interface See key metrics on a granular level Create and share dashboards and reports

    UQube is not a replacement for your current business systems; It's a

    gap-filler, solving your small data problems.