Depending on the size of a business, the information flow can become overwhelming, and just the concept of streamlining data-related processes sounds intimidating. However, standardizing these processes will not only make things easier for employees and save them time, but it will also provide the business with a competitive advantage.
Doing so helps department managers to have near-instant access to vital information.
In a nutshell, standardized reporting helps businesses to:
- use a unified communication language across departments,
- understand and examine data efficiently – day in and day out,
- adjust its methods in response to changing market conditions and client needs,
- gain a competitive edge in the market, and
- provide its customers with a better experience.
The International Business Communication Standards (IBCS®) is an obvious choice for all companies seeking to streamline data reporting and data collaboration processes. Not only does IBCS® simplify reports for every decision-maker involved, but also for everyone else in the organization, which is vital for businesses reliant on high standards of communication.
Let’s dive deeper into IBCS® and all the different ways it can transform a business.
What is IBCS®?
IBCS® can be described as a unified language, along with graphs and presentations that make business communication clear and straightforward. It is similar to how composers know what notes to use in a music sheet, or how architects know exactly which metrics to use in their sketches so that everyone in the world can understand their work.
The most significant advantage of implementing IBCS® is not only standardized reporting but also accelerated business decision-making with data as its primary navigation tool.
IBCS® Features That Can Transform Any Business
1. Globally renowned standard of communication.
IBCS® is used by some of the most prominent organizations in the world. It is a tried and tested communication standard founded on simplicity, usability, and actionability. In a nutshell, the ultimate goal of IBCS® is to make every report understandable at a glance.
2. Establishing clarity of information – everywhere.
Another very significant benefit of using IBCS® is clear business communications across all departments. Suppose four people are in charge of preparing reports in a large enterprise, and they do not use a unified standard. In that case, the result will undoubtedly be an insufficient basis for decision-making.
Standards make business communication as clear as a green traffic light. With IBCS®, all reports become transparent so that making decisions is only a matter of formality.
3. Simplifying and decluttering data reports.
The essence of IBCS® standards is described in the word SUCCESS – their main principles.
- SAY – Get across the message necessary for making a decision.
- UNIFY – Use simplified presentations that display unified and clearly recognizable data.
- CONDENSE – Condense information in one place so that comparisons can be made at a glance.
- CHECK – Ensure visual integrity and correctness to show the state of matters at a glance.
- EXPRESS – Use proper visualization and standards that are consistent in all reports and presentations.
- SIMPLIFY – Avoid clutter and aim for clarity so the viewers don’t have to think about the meaning of the data presented.
- STRUCTURE – Structure content so that equal is compared with equal.
4. Accelerating business decision-making.
When decision-makers are presented with simplified, decluttered, and action-ready reports, the entire decision-making process is carried out much faster. In addition, being able to make decisions that are backed by clear data presents a huge relief for executive decision-makers.
“Imagine you are looking at a business proposition that is simple, clear and unambiguous, full of accurate and applicable data.” That’s what IBCS® feels like in action. It enables faster, more precise, and better business decisions in any given moment, especially long-term.
5. Increasing confidence in business decisions.
Businesses need to make decisions based on facts. But without standardized facts, every decision is based on emotions and what feels right at that moment. With IBCS®, a company can make decisions confidently, knowing that each and every decision is based on facts, business data, and actionable information.
IBCS® and Data Visualization
Another significant benefit of IBCS® is simplified hence improved data visualization. Reports that always “look” the same don’t have a learning curve associated with them. This means that everyone can understand and know where to look, what to look for, and what each figure, line, or color in the report signifies.
In other words, IBCS® provides clear, easy-to-understand reports and the ability to present all the data visually.
The problem with traditional data visualization is that raw data is presented to the viewers, who are then prompted to make their own decisions. This often leads to misinterpretation and misunderstanding.
In fact, more than 60% of bad business decisions are a result of incorrect or misinterpreted data. To prevent this from happening, more and more businesses started implementing Information Design via IBCS® that allows them to have “clear” insights into data relevant to their growth.
Data visualization with IBCS® becomes Information Design, enabling a whole new level of insights into existing business intelligence.
The main idea behind Information Design is to inform the viewer about a data set and its specific parts. The viewers don’t get to interpret data on their own, as conclusions have already been made for that data, and it is being presented in a snackable design.
Don’t prevent your business from making significant progress because you are stuck sitting on mountains of unstructured data, measuring the wrong KPIs, and not visualizing insights effectively. With TRUECHART and IBCS®, make your reports visually meaningful and produce insights that matter.
Stay up-to-date with TRUECHART. Follow us on LinkedIn.