How can companies enhance their analytical skills?

Updated: Aug 25

Data has been and will be a crucial tool for companies in all sectors. It is through data that employees can make informed and safe decisions when it comes to budget, operations, and more. Often, this data is laid out across the organization, employees are often overwhelmed with the big amount of data and there is no way to clearly visualize this information. Companies require employees trained in data analysis who can provide value to the organization through their research. However, being able to generate reports and carry out thoughtful analysis of data should be a company-wide practice.

Here are 3 ways companies can enhance their analytical skills:

1. Invest in useful analytics software

In order for companies to enhance their analytics, there is software that can be implemented. One of the leading software in the market is Oracle Implementation (Planning & Budgeting Cloud Services) which provides planning, budgeting, and forecasting solution that is scalable and user-friendly. This program allows you to create instant analysis and reporting following business rules. Oracle's goal through their technology and software is to have employees spend less time on preparing data and more time and effort on data analysis.

2. Establish company-wide practices regarding data analysis

In order to become a data-driven organization, it is necessary to establish certain practices for all areas. It is crucial for all leaders to take action with the help of predictive insights. These insights can be easily obtained through data analysis, especially with specialized software for planning and budgeting. These programs can help you migrate from separate and disconnected planning tools and spreadsheets so that your information is all in one platform with the possibility of creating reports and dashboards that work for you. This can help you stand out from your competitors and continue to grow your business.

3. Transform your business plan

Through thoughtful analysis, you can find helpful insights that can provide you with a renewed point of view. Software such as Oracle’s Planning and Budgeting Cloud Services allows you to visualize your data in a clear and concise manner in order to make informed decisions. It can help you understand growth, sales trends, turnover trends, and any other variable that you might find necessary for your company.

Integrating Oracle technology within your organization can help assure best practices across industries. The Nepanoa team can help you plan your transformation roadmap and define your specific requirements. We also guide you through the process to achieve success in the implementation.


 

Go to: Oracle Implementation