In simple terms, data collaboration can be described as visualizing data from different data sources and then forwarding this data to the right people in the proper format. Nowadays, companies are swamped with data from multiple sources from every layer of the business. However, those who implement data collaboration tools can find the right data, get it to the people who need it to make decisions, and make sure the data reaches them in a timely manner.
By using the right tools to pull together all of the different data sources and intuitively visualizing those results, personnel can make an immediate difference in responding to conditions, resulting in reliable and agile operations.
Here are the basics of data collaboration in 2021.
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The Key Principles of Data Collaboration
Collaboration Is Key
With data collaboration, companies can enhance partnerships, go-to-market efforts, strategic initiatives, and overall performance. Collaborating around data is essential for teams handling lots of information. Finding value in this is the part where information turns into business intelligence.
Have Unified Systems In Place
Extracting necessary data is not of significant use unless a company has unified systems in place. Nowadays, there are numerous tools such as Zoom and Microsoft Teams that can be used even among the non-tech-savvy employees to share data efficiently.
Data Point Specificity
It’s been a while since we started moving away from just sharing data and providing feedback promptly. To keep up the pace with their competitors, businesses now need to do all of this in real-time. To do so, collaboration needs to happen at a data-point-specific level. Tools such as KPI-CHAT, developed by TRUECHART, enable companies to make the most out of business intelligence collaboration and enable real-time decision making by commenting and leading full-blown “chats” in specific data points within your dashboard.
Data Security
Not all employees should have access to all data. Advanced collaboration tools allow companies to limit the access of people/teams to specific data based on their roles in the company. Not only will this increase the security in a company, but it will also make it easier for employees to locate the data they need more efficiently.
Accurate Business Insights
Thanks to data collaboration, businesses can integrate data from different data sources to provide information that describes business performance across entities such as products and customers.
Innovation
Data collaboration can help companies make important business decisions with the help of data visualization, such as graphs, charts, or heat maps.
A Single Point of Access for Documentation
Data collaboration will exploit existing documentation to obtain technical data component information to create necessary data solutions in ad hoc data queries that address business questions.
Flexibility
Data collaboration offers flexible solutions that can be used as self-service or as enterprise standardized data presentations that describe business performance across the entire company.
Simple Access to Accurate Data
With data collaboration tools, companies obtain single access to accurate data. This reduces the time needed for analytics and provides quicker solutions for data presentations in the form of reports and dashboards.
Knowledge Control
All employees will reference one definition of a data component that will be translated across different solutions, reducing misinterpretations and misunderstandings.
Data collaboration can be a powerful force multiplier for any business. Once equipped with the right tools, a company can make smarter decisions, learn from the mistakes and wins of others, and create a continuous pipeline of new growth opportunities.
If you would like to ensure constant growth and make collaboration and insights across departments quick and easy, then make sure to team up with TRUECHART. With our tools, your employees will be able to tackle petabytes of business intelligence in interactive speed to make data management and complex reporting much more manageable, simpler, and faster. Let’s chat.
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