Data insight is knowledge extracted from data that can be used to inform decision making and drive organizational transformation and innovation. Organizations use data analytics tools and technology to obtain actionable data insights—knowledge that can help them anticipate and mitigate risk, boost efficiency and productivity, and increase their likelihood of success. With a robust data intelligence tool, companies can turn their data into valuable information assets, make those assets accessible and usable to their workforce, and build a data-driven culture that generates real value from your data.
Actionable data insights suggest meaningful actions that firms can take in a specific situation. They provide an impetus for action and are most valuable when they contradict existing knowledge, help assess the importance or scale of a problem, or suggest new directions to explore. Departments throughout the enterprise can use data insights to make important changes and improvements. Insights obtained from an effective IoT analytics program or using a big data analytics tool provide organizations with information they can use to better understand and serve customers, enhance their products and services, improve inventory and supply chain management, optimize internal processes, and reduce spending. And these are just a few of the many ways data insights are currently being used in the enterprise. In the future, as more companies leverage analytics tools, we can expect to see a proliferation of new and interesting insight-driven efforts.
In order to ensure that their employees have access to high-quality data and can uncover data insights in a timely manner, businesses need to invest in infrastructure and tools that support both data management and data analytics:
In order to fully leverage data insights and become a truly data-driven organization, businesses will also need to adopt data visualization and BI reporting tools that enable users to communicate and distribute the insights they obtain to decision-makers and other stakeholders across the organization.
Innovative self-service oriented BI and analytics tools like Qlik Sense empower business users to access data and analytics—and act on data insight—as part of their everyday workflows. Leading the newest generation of business intelligence solution, modern data analytics platforms enable users to easily find, visualize, and understand the relevant data. Search-based, visual, and augmented data discovery capabilities allow business users to quickly interrogate data and surface actionable insights. The need for complex ETL processes is eliminated, letting users connect to data sources of interest, visually profile data, and build and share interactive dashboards and other analytics applications using simple drag-and-drop functionality. With the right tools, they can get from raw data to data insight faster than ever before.
Qlik Sense is a robust data analytics platform from the pioneer of user-driven business intelligence. It enables any BI use case ranging from conversational analytics to pixel-perfect reporting and, because of a unique Associative Engine, helps users discover hidden data insights that they won’t find with query-based BI tools. Qlik indexes and understands every relationship in all your data, letting users explore the data freely in any direction and without the limitations of partial views or predefined queries.
With AI offering data insight suggestions and automating data preparation tasks, users can use their creativity, critical thinking, and intuition to guide their analyses without having to slow down for preparation work. Interactive dashboards and smart visualizations reveal the true shape of your data, highlighting outliers and updating instantly as the user makes selections. Non-technical users can take advantage of conversational analytics to ask questions and get answers about their data in everyday business language. More advanced users can leverage advanced analytics integrations to take advantage of the power of data science and predictive models. And with centralized data management and governance built right in, they can do all of this in a secure, governed environment.
Data refers to facts or statements of fact that can be processed, aggregated, and organized to supply users with information, which is typically presented in the form of visualizations, narratives, and reports. This information can then be analyzed to generate data insight, which is knowledge that can be used to inform decision making and inspire action.
It is knowledge that is derived from an analysis of data. It is not simply new information but knowledge that is useful—that contradicts assumptions, helps to confirm or deny a suspicion, quantifies the importance of a problem, suggests a meaningful course of action to be taken, or forces a person or organization to reconsider their current trajectory.
You use BI solutions, data analytics tools, or even spreadsheets to load, combine, examine, and visualize data sets, thereby transforming it into information. You can use software, your intuition, and analytical reasoning to look at and identify meaningful patterns and trends in that information and then develop a conclusion based on your findings. With an AI-powered analytics tool, you can automate or accelerate many of these processes and even get suggestions for where to look.