Don’t Leave it to Chance

Peter Behan of Group Horizon explains why companies need to make full use of the data they are generating. With endless possibilities to improve business performance, the key to achieving real results is through data analysis.

Every business generates multiple sets of data, both structured and unstructured, which can be utilised to make informed business decisions – but how can organisations be sure that they are maximising results and extracting the information they really need?

Structured data typically takes the form of organised information sets that are straightforward to analyse. The very nature of this information makes it easier to interpret and therefore more popular with businesses; however, the real challenge, and often the real value, lies in the unstructured data thought to account for around 80% of all business data. Working with unstructured data can be confusing and time-consuming, with no predefined model or framework to assist in extracting actionable insights.

This is where the data analyst comes in.

A qualified data analyst has the skills to obtain meaningful conclusions from unstructured data, summarising findings and using visual presentations to tell the whole story in ways that are straightforward to understand. Having a dedicated analyst on board offers a guarantee that all company data is handled in a secure manner and that the processes involved are fully compliant with the relevant legislation.

Using a wide range of analytics tools and applications, the data analyst can play a vital role in deciding how a company acts on certain issues, helping to firm up future plans and guiding the executive team in the right direction. They are often able to offer data comparisons, decipher hidden trends and give the management team advice on changing operating patterns in order to impact the underlying figures in a positive manner.

Data analysis can help organisations gain valuable insight into the hidden information they have at their fingertips, giving them the confidence to draw definitive conclusions on the future direction of the company. Businesses that ignore the wealth of internally held information available to them increase the risk of making judgments based on incomplete data – the data analyst can ensure that decisions based around the future direction of the company aren’t left to chance.

Responding to the increase in demand for data analysis, Group Horizon has launched a new apprenticeship – the Data Analyst Apprenticeship Level 4. For further information or to register an interest in the course visit: https://grouphorizon.co.uk/portfolio/data-analyst-apprenticeshp/