Data Excellence: From Unstructured Data to Measurable Success
“Data-driven companies are 23 times more likely to top their competition in customer acquisition, about 19 times more likely to stay profitable, and nearly seven times more likely to retain customers”, states an article from Forbes. On top of that, the article continues on to assert being data-driven improves the employee experience.
All of this sounds great, right?
But as Harvard Business Review points out, up to 80% of data may be unstructured, “meaning that it is not easily captured or made quantifiable.”
How do we get from unusable data to being a data-driven company creating more value and success?
Enter Work Excellence Data Analysts. Empower your team with our data analyst services and products, the enablers of your championship success. We simplify data accessibility and understanding, helping you make faster, more informed decisions. Bring in our expertise to accelerate your organizational change and drive your business forward.
Based on equations, dimensions, and facts we facilitate improved data storytelling for your organization. There are no one-size fits all solutions with data. Through various methods of deployment, Work Excellence Data Analysts will provide tailored support to your teams. Whether it’s data services, data products, or workshops, our data analysts drive results.
One of the CEOs we work with recently said, “Work Excellence has provided thought leadership and hands-on direction to bring our different data sources together to align the organization on our real-time results and develop the capabilities for deep problem solving.” To find out more about how we brought this company visibility to their data, read on.
Collaborative Data Services: A Six-Phase Approach
Our analysts will join your team, delivering you with clear and understandable data. Your journey with our data analysts will go through six phases: Discovery, Design, Build/Analyze, Implement, Operationalize, and Advancement. Each stage has a specific purpose and set of measures to gauge success, ensuring a cohesive progression from understanding the problem to achieving continuous improvement.
Discovery: Understand what data you have, what you need, and its sources. Create clear problem statements and define desired outcomes.
Design: Gather requirements and define the solution. Establish clear requirements and solutions that can be measured.
Build/Analyze: Develop the first version of data models. Create a tangible output that can be tested and refined.
Implement: Put the solutions into action. Ensure effective integration into existing systems and processes.
Operationalize: Ensure the solution adds value and provides desired insights. Demonstrate the practical utility of the data solution.
Advancement: Focus on continuous improvement and progress. Enhance data maturity and improve strategies over time.
Each phase builds upon the previous one, creating a framework for developing, implementing, and refining data solutions. This systematic approach not only enhances clarity and direction but also ensures that the solutions are practical, valuable, and continuously improving. Our data analysts collaborate fully with your teams, ensuring smooth integration on the journey to data clarity.
Data Models: Elevating Decision-Making through Proven Principles
We utilize timeless statistical principles to transform your data into insightful and actionable models. Deploy our proven, repeatable structure and build the models you need for clear, concise decision-making. Our top three data products are highlighted below.
Work Measurement:
Enhances the visibility of KPIs and metrics by presenting them visually, aiding better storytelling, and driving informed decision-making.
Inventory Product Classification:
Optimizes various aspects of inventory management with a proprietary classification method, providing valuable insights and supporting effective decision-making.
Between The Rails:
Focuses on presenting measures within a control or capability framework relative to set targets, transforming any measure into a visual representation that highlights patterns, statistical control, and capability.
Sometimes, all you need is a template to get you started. After discussion with our analysts, we will build and educate your teams on the structure and tools needed to continue your data journey.
Empower Your Team: Work Measurement and Data Workshop
In our 1-day Analyst Workshop, dive deeper into Work Measurement, your data, and how you visualize performance. Led by a data analyst, we work on your work in real time. Combining aspects of both data products and data services, your teams will get a crash course on all things data management.
Centered on equations, dimensions, and facts, we pair the Work Excellence Method with timeless data and statistical principles. Utilizing current technology such as Power BI, Tableau, and Business Intelligence Software, we bring work measurement and information management to life.
From here, your team may choose to continue with our data services, data products, or educate other teams through our workshop.
Proven Success: Real-World Results from Our Data Solutions
Inventory and Cost Management: Reduced a $75 million backlog, decreased inventory levels from $57 million to $43 million.
Sales Visibility and Freight Cost Savings: Uncovered $1 million in missing sales data and cut international and domestic freight rates by 30% and 60%, respectively. Uncovered $800K of duplicate payments the organization was able to rectify.
Operational Expense Reduction and Data Consolidation: Reduced operating expenses at two distribution centers by 20%, consolidated reports for clearer decision-making.
Supplier and Customer Supply Management: Cut supplier and customer weeks of supply in half, from 30 weeks to 15 weeks, achieving a 50% reduction.
Product Margin Improvement: Increased product margin by 5 percentage points.
Master Data Cleanup and System Optimization: Highlighted discrepancies in data, conducted a 5S cleanup of data attributes in the system for improved accuracy and efficiency.
Unlock the Power of Your Data with Work Excellence Data Analyst Services
Data-driven companies significantly outperform their competitors in customer acquisition, profitability, and customer retention. However, up to 80% of data remains unstructured and difficult to utilize effectively. Work Excellence Data Analysts specialize in transforming unstructured data into actionable insights, empowering teams to make faster and more informed decisions. Our comprehensive approach, encompassing six phases from Discovery to Advancement, ensures a seamless progression towards continuous improvement and data clarity.
Clients have seen remarkable results, including a reduction of a $75 million backlog, a decrease in inventory from $57 million to $43 million, and substantial cost savings in freight rates and operating expenses. Our specialized data products, such as Inventory Product Classification and Work Measurement techniques, optimize inventory management and enhance decision-making processes. Reflect on your data journey and consider partnering with Work Excellence to unlock your organization’s potential.
Taylor V., a Senior Financial Analyst in Retail, shared, “Working with Work Excellence has proven to be one of the wisest decisions our company has made.” Reach out to us today for a free discovery call to see how our expert data solutions can drive your business forward.