In November, thryve explored the ins and outs of data insights
Welcome to thryve’s November newsletter. This month, we tackle questions around data analytics:
- Why the cloud is key to unlocking new insights from data.
- Where to start if you want to analyse customer data.
- What the important considerations are to form a data-first company.
Learn more in the blogs linked below, enjoy our Managing Director’s monthly column, and thank you for reading thryve’s newsletter.
Letter from our MD
As we prepare to close off 2020, what has been the biggest lesson from the year? I’d wager it’s that we had vastly underestimated the fragility of our modern societies. In hindsight, that fragility was evident. Our world is very complex – from global trade to local supply chains – it did not take much to disrupt those seriously. It’s quite incredible that just a few months of lessened economic activity can bring it all down to its knees.
Another lesson I’d highlight is that we were warned about this. As far back as 2007, researchers even hinted the pandemic could come from the SARS-COV family, which it did. We also received hints about the fragility of a connected world, such as how one volcano in 2010 halted much of Europe’s air traffic. And, to briefly stray into the political, we can see how an incumbent president’s foot-dragging is creating serious problems for his country – and it’s scarcely been a month since he lost.
It’s interesting that, if you look back to the early 20th century, many looked at emerging efficiencies and predicted a less busy world. Back then, productivity experts expected we’d be working shorter hours and fewer days by now, satiated by abundance around us. Ironically, we did get all that abundance and efficiency, and yet we work even harder. No surprise then to learn that people today are more productive since working from home – because their commute hours are being converted into office hours.
But this isn’t a column about lifestyle. Those matters will find solutions in their own ways. What I want to get back to is this inherent fragility due to complexity. Right now, a global virus is shaking that to its core. But what else could do the same? And can we be better prepared?
Absolutely. A topic I’ve both seen rise to the fore in 2020, and which thryve has promoted for some time, is of strategic risk management. The practice of risk management is finally seated at the table. Scenario planning is another concept that now enjoys more attention, and there is growing momentum behind bringing the two disciplines together.
A new column by USAID chief Steven Gale notes that both analytics and enterprise risk management (ERM) are the tools by which these disciplines can be strengthened and integrated. Technology has been an enabler of these for a while now. But it took the shudder of 2020 to show, culturally and pragmatically, how valuable they are.
As the year starts drawing to a close, we should focus on how to remember those lessons and put them to action. Our modern world is too fragile to leave it all to chance or expect it will roll with the punches. We have the means to predict, preempt and mitigate tragedy – what we at thryve call ‘sense and respond’ risk management. If we can hold onto 2020’s revelations, we can tackle many of the modern world’s biggest threats.
Analytics on tap: leveraging the cloud for data intelligence
The cloud has made it easy and cost-effective to start analysing data in your organisation. But for some, there are still several questions and concerns. How is modern analytics different from traditional business intelligence? Is the cloud safe, and does it leave you in control? Can you still use the cloud and stay in charge of your data? In this blog, we tackle those questions and explain why cloud, analytics and your business are a winning combination.
Analytics and Customer Data – where to start?
Your customer data can tell you a lot about their current and future intentions. If used in the right way, customer insights can reduce churn and attract new revenue. It can improve service personalisation and inform marketing strategies. Best of all, such analytics is now accessible and affordable through Customer Data Platforms such as Salesforce and Tableau. In this blog, we look at the first steps you can take to prepare and deliver customer analytics your teams can use.
How do you build a data-first company?
Concluding our monthly roundup of blogs is an attempt to answer the big question: how can you change your business to start using data in new ways? Looking at some of the leading insights on this question, we compiled a number of points you should consider – from focusing your efforts to allowing employees to fail when exploring the possibilities in data.
November’s best Salesforce, Riskonnect, Tableau and other blogs
Data-driven scenario planning is becoming a very potent tool for modern companies, boosted by greater access and lower costs – what should you know about this trend? Likewise, more companies want to adopt analytics services, yet often get stuck at the starting line – what are they doing wrong? Transforming a company for the post-pandemic world requires winning hearts and minds – a top Deloitte executive talks to Salesforce about this challenge. And NIST has released new guidelines to help articulate cyber security through risk management. Learn more in our monthly roundup of blogs from across the web.