Anatomy of a decision: the absolutely crucial ingredients you need, to go from data to action

Listen to this episode on Anchor FM

How can we empower everybody to be better decision-makers? In this episode of the DATAcated on Air podcast, host Kate Strachnyi talks with Chris Banks, Director of Product Marketing at Pyramid Analytics, about the crucial ingredients to go from data to action. Chris has decades of experience in data and analytics. Listen to this energetic conversation to learn how you can make data-driven decisions.

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You will want to hear this episode if you are interested in...

  • What is Pyramid Analytics? [05:14]
  • Data-driven decisions [08:32]
  • Data access isn’t simple [15:44]
  • Small companies and data services [19:17]
  • Data access with data literacy [23:53]
  • Choosing the right vendor [34:01]

Pyramid Analytics

Pyramid Analytics is an enterprise software vendor. In 2021 the company was rated by Gartner as number one for visual self-service analytics. The aspect that sets the company apart from others is that it provides a breadth of functionality by providing a platform instead of just a tool. That platform can be scaled to give companies the best performance possible. While many competitors are built on decades-old technology, Pyramid Analytics rebuilt everything from the ground up just a few years ago. So the company gives clients the best performance and scalability against any data. The goal is to empower everybody with trusted analytics.

A lot of Pyramid Analytics’ success is due to innovation, delivering information rather than just data, and delivering that information in different ways. When organizations invest in becoming data-driven without that innovation, they often don’t see the results they were looking for and default back to the old ways. Pyramid Analytics’ technology works and delivers results by helping organizations be successful.

Data-driven decision-making

Trillions of dollars of value worldwide can be taken advantage of by leveraging analytics inside an organization. Organizations can do this effectively through alignment on strategy starting from the c-suite level. Everyone has to be on board with the goals created by investing in data. Companies must make the correct investments in data, technology, and people. When a company invests in AI, machine learning, and predictive analytics, it will be more successful if it hires someone like a data scientist. Decision-making processes can be further improved by figuring out which aspects of a business can be automated and made better with technology.

Empowering business users

At the root of any data-driven decision, the goal is to see an impact. Whatever the company invests in must be easy to use for that to occur. Ease of use will make happy business users, who will be more productive. Information that used to take hours to assemble and receive will be quickly generated and electronically delivered. The most significant impact on ROI is high adoption and saving time.

Businesses need to find what works best for them. While some tools are best for some users, this isn’t a one-size-fits-all situation. When people have something useful, they will use it without being pressured or tracked. That’s why it’s also essential to make sure that whatever solution is used is as easy to use as possible, no matter who the user is. Having more functionality without being overwhelming is where businesses and people realize they can make data-driven decisions. Insights become actionable, and actions have a greater impact.

Resources & People Mentioned

Connect with Chris Banks

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