{"id":445,"date":"2018-02-26T13:30:21","date_gmt":"2018-02-26T18:30:21","guid":{"rendered":"https:\/\/treehousetechgroup.com\/?p=445"},"modified":"2021-05-20T11:34:58","modified_gmt":"2021-05-20T15:34:58","slug":"slowing-down","status":"publish","type":"post","link":"https:\/\/treehousetechgroup.com\/slowing-down\/","title":{"rendered":"Slowing Down to Speed Up"},"content":{"rendered":"\n

In our fast-paced world, it can sometimes be challenging for companies to take a step back before acting on impulse. They\u2019re told they must keep changing and adapting to an ever-evolving landscape in order to stay relevant and competitive in today\u2019s market.<\/span><\/p>\n\n\n\n

While this is certainly true, sometimes more harm can be done if they act \u2013 or react \u2013 too quickly. This is especially true for data-driven companies, which would benefit from taking the time to define their data management process instead of <\/span>reacting in an ad hoc way<\/span><\/a>.<\/span><\/p>\n\n\n\n

Constantly responding to data reporting or analytical needs as they arise isn\u2019t necessarily a bad thing. But it will only take you so far. <\/span><\/p>\n\n\n\n

If you truly want to take advantage of all your data has to offer, then you really need to pump the brakes and develop a more comprehensive approach to managing your data<\/a>.<\/span><\/p>\n\n\n\n

Here are a few tips to help you get started:<\/span><\/p>\n\n\n\n

Define your key metrics.<\/b><\/span><\/p>\n\n\n\n

Start by asking: what are the key metrics we want to track within our business? Or, what is important to us and what drives performance in our company? Answering these questions allows you to hone in on what you\u2019re trying to achieve with your data so that you can develop a process to achieve it. It also allows you to ignore and eliminate any unnecessary effort spent on meaningless metrics.<\/span><\/p>\n\n\n\n

Define the standard taxonomy for your company.<\/b><\/span><\/p>\n\n\n\n

Determining how data and subsequent metrics should be defined throughout the company and ensuring the definition is consistent throughout the organization plays a vital role not only in the integrity of your data, but in its ability to provide the most value. Furthermore, you spend less time arguing in meetings about what each metric really means and represents.<\/span><\/p>\n\n\n\n

Define data ownership.<\/b><\/span><\/p>\n\n\n\n

Who looks after all your data and who manages it? Defining ownership and data sharing standards across your organization is critical to ensuring the security and accuracy of your company\u2019s data. Without a captain, you will sail in circles.   <\/span><\/p>\n\n\n\n

Build a proper data warehouse or data model.<\/b><\/span><\/p>\n\n\n\n

Building a data warehouse<\/a> is an essential component to business intelligence. It ensures the consistency and standardization of data coming from multiple sources, enabling you to derive insights faster and more effectively in order to make better business decisions. Take the time to ensure:<\/span><\/p>\n\n\n\n