Every business idea that aims to be brought to life and materialized, needless to say, there are many factors and a planned roadmap that needs to be followed to maximize the chances of success.
Depending on the nature of the organization or business company, whether it has a product of its own or a service that it provides, their focus will differ in different factors that lead towards success.
Running a business nowadays is impossible without considering data as one of the top factors for studying the feasibility and creating the business strategy upon those and other finding factors.
No matter what kind of industry you look to get into or looking for further expansion or growth, data is an inevitable factor that all industries have in common.
No one has the commodity of ignoring it, because data and big data it’s game-changer for those businesses that are good at utilizing and extracting valuable insights from them.
Data being analyzed gives businesses the advantage of spotting weak points and using these insights for the benefit of strategy mapping.
Measuring performance, personalizing services/products, transferring other data analysis that businesses can use to ultimately boost performance and improve their bottom line.
Nowadays even more important than analyzing data, the speed at which these analyses are done is almost crucial.
Because data is so important for industries, consequently the competition is big and aggressive.
In today’s market developments, the possession of data doesn’t mean automatically your success is secured.
This success depends a lot on how fast you process your data analysis in comparison with your competition.
Having this said, let us dive in and see how we can speed up data analysis.
One of the first actions that contribute to speeding up the data analysis process is cleaning it.
Many data sets require a good clean-up because not every piece of information of data is relevant and valuable that could contribute to business growth.
After running analysis at first and evaluating them as not profitable for your organization, make sure you create a plan for sweeping them from your database.
This will increase the efficiency of your team in analyzing new data faster because of the less total amount of data.
And in the other hand, the insights that are pulled from the rest of the data are more accurate, efficient and provide more valuable informational results overall.
We are expanding and see the next important step which is setting up a structure for analyzing the data.
Business professionals or data analyzers always have a reason (at least they should) that backs them up when it comes to analyzing the data.
The problem arises when most professionals start this journey without a structure. They possibly have in their mind the way it might look the workflow process but in reality, yet nothing is done.
In order to avoid this situation and cut the time and other costs spent working without a structure, who should create a strategy and set up a structure in order to give the data a direction on how and where to go by further filtering.
By having such a structure in place, the data itself becomes more valuable.
A good way to prioritize the value of data in this regard is to follow the strategy of Data wrangling.
Data wrangling simply put it enables you to clean, structure, and enrich the raw data in any format that you would find easier for better decision making in less time.
Setting measurable and achievable goals is another tip for speeding up the data analysis.
Even though it has similarities with setting up a structured data set, yet again, the difference between them stands out when it comes to the implementation of plans in short term.
As opposed to data analyst structure that shows the path where and how to proceed in long shot, whereas goals specify what to achieve and the timeframe for that specific action.
Setting goals in the data analyzing process, helps companies increase their productivity and gain better insights.
Having goals in place helps the data analyzing team digest them more easily the data and sort them properly and make them available as needed.
Combining the structure of data analysis and its goals helps the data exploration workflow and perform continuously in an uninterrupted process from unwanted events.
Identifying and fixing any unwanted experience in the analyzing process of data is easier, faster and the damage that might be caused has less impact on the overall data analyzing performance.
Data used to be analyzed manually by professionals but since the amount of data is getting enormously bigger there are tools that were placed in charge of performing these analyses.
Having this said, in today’s scale and pace of data using tools for analyzing and extracting insights is more than needed.
Even though professional data analyzers can still perform this task, here are few reasons why you should use a tool instead of doing this manually by professionals.
First, a data analytics tool offers more precision at insights delivered and they also offer more data to look at. Tools aren’t affected by the length of time they do the analyzing, this way errors are much less to happen.
The speed at which the processing of data goes through is something of a unique value, and machines/tools are better than humans in this regard when it comes to multiple data sets analysis.
Few of top data analytics tools;
Speed up the process of data analyzing and gain an advantage among your competitors through the use of tools that fit best your project.
The last tip that we can share in this article for speeding up the analysis process is Segmenting the data.
Try to break it down into smaller parts so the data can be analyzed individually and not as a whole batch.
Adservio has a special appreciation when it comes to the impact of data and benefits that can derive by analyzing them.
Reach out to our team of professionals for further assistance.