By outlining and visualizing you own data value chain, it can help you identify performance gaps as well as establish a vision for your future state.
When it comes to unlocking the power of advanced analytics and artificial intelligence (AI), maximizing the performance of your data value chain is vital. The infrastructure required to support such initiatives must be high velocity and deliver low, predictable latency in both capturing data and in executing queries. It also has to be able to handle very high transaction volumes, often in a distributed environment as well as support flexible and dynamic data structures.
The data value chain describes the entire data lifecycle from collection to analysis and usage. In other words, it categorizes the various steps required to transform raw data into valuable insights. As explained on Open Data Watch, “The value chain describes connections between each step that change low-value inputs into high-value outputs. Although it has a logical flow, from start to finish, a value chain has no theory: it is a pragmatic construct.”
Though the terminology used to label the various components of the data value pipeline can vary from institution to institution, typically, the data value chain is broken down into five key categories:
In addition, the data value chain is more than just an outline of technical steps; achieving ROI with data also requires significant cultural changes. Cultivating data literacy amongst non-technical users and promoting data democratization are also critical parts of the success equation.
Individual services are based on the following:
Utilize data analytics for evidence-based decision-making, enabling you to anticipate market trends and navigate risks with precision.
Insightful Data Analysis: Utilize the power of data to drive strategic decisions. Our data analytics services provide in-depth analysis, uncovering patterns and trends that can propel your business forward.
Predictive Modeling: Anticipate future trends with our advanced predictive models. We turn your historical data into actionable insights, helping you stay ahead of the competition.
Data Visualization: Transform complex data into intuitive visualizations. We create compelling dashboards that provide clear and concise insights, making it easier to interpret and act on your data.
Streamline your workflows and eliminate repetitive tasks, enhancing efficiency and accuracy so your team can focus on strategic initiatives that drive your business forward.
Process Automation: Increase efficiency by automating repetitive tasks. Our automation solutions streamline operations, reduce manual errors, and free up your team to focus on strategic initiatives.
Robotic Process Automation (RPA): Leverage cutting-edge RPA technologies to automate high-volume tasks. Our solutions enhance productivity and ensure consistency across your processes.
AI & Machine Learning Integration: Incorporate AI and machine learning into your business operations for smarter decision-making and improved outcomes.
Optimize your business processes to boost performance, reduce bottlenecks, and ensure continuous improvement, driving operational excellence across your organization.
Operational Efficiency: Optimize your processes for maximum efficiency. We analyze your current workflows and implement improvements that reduce costs and enhance productivity.
Performance Metrics & KPIs: Develop and track key performance indicators that align with your business goals. We help you measure success and identify areas for ongoing improvement.
Process Automation: Streamline your operations by automating critical processes. We identify and implement automation solutions that target high-impact areas, minimizing manual tasks, reducing errors, and significantly boosting efficiency and customer satisfaction.
We empower businesses to thrive in the digital age by seamlessly integrating cutting-edge technologies and innovative strategies. Our focus on data analytics, automation, and process improvement drives agility, enhances productivity, and fosters innovation. By leveraging emerging technologies like artificial intelligence, machine learning, big data, we streamline operations, reduce errors, and deliver actionable insights that keep you ahead in a dynamic market.
Problem – Procurement is not easy as it seems.
There are a lot of moving parts in one single process. Now imagine doing all of this manually; one single error will cause huge discrepancies in the process.
Solution – Vendor selection and product procurement is a risky undertaking; doing it manually is even more hazardous as one manual error can cost you a lot. Process improvement is all about making the process easier for the employees.
This is where automation tools come into play. A business process automation tool like Hubler can easily handle the procurement process. From requirement gathering and request for proposal to receiving the order and sending a goods received note, every step can be automated
This not only minimizes the workload of employees but also eradicates the errors that might occur in manual processes. Automation tools can thus make the procurement process streamlined and easy.
Problem – Customer engagement is crucial for an eCommerce store. The more they interact with customers, the higher the chances of customers returning to the store.
Emails are the primary medium of communication for eCommerce stores, which is why users receive emails from eCommerce stores all the time.
Now to send an email, the store will need customers’ email addresses. All the emails will go through a process called segmentation to split them based on buyer personas. Then the emails are created, and sometimes a series of emails need to be sent.
Let’s take Black Friday, for example. Black Friday is the biggest sales weekend, and stores have to let their customers know about the deal they’ll be running on that weekend.
Usually, this is done a month before Black Friday. Stores will create a three-email series, and the emails will be sent to all the customers simultaneously.
The first email will be sent a month before Black Friday, the second email 15 days before, and the last email will be sent the day before the event.
Do you see how complex this is? If the eCommerce store has 1000 email addresses, the employees need to send emails 1000 times, which will be an impossible task.
Solution – This is a repetitive process where the same email must be sent to 1000 addresses. Instead of doing it manually, eCommerce stores can simply use an email automation tool to send emails automatically.
Once the emails are created, stores can use the tool to broadcast the email to 1000 customers at once. The process is done within seconds. This is how modern technology is helping businesses to improve their processes.
Tools minimize employees’ workload and encourage them to focus on tasks that increase revenue and customer satisfaction.
Problem – The marketing team will perform multiple analyses like competitor and keyword analysis to find the right keywords and topics.
Once the topics are finalized, they will be assigned to writers along with the keywords. Once the writers complete the blogs, they will be reviewed and published.
Then comes the attribution part, where blogs will be analyzed for the traffic, conversion, sales, and the number of KWs they rank for on the search engine results. This data will be consolidated and submitted during the monthly standup meeting.
Solution – Most marketing teams perform analysis every month, which is time-consuming and redundant most of the time.
Tools like Notion, Trello, and Google suite can be used to save the data once. Then the topics can be assigned to the writers, and their respective attribution can be reviewed every month.
All the data can be recorded on the management tool board for every team member to see. If the process didn’t work, they can note what didn’t work and try a different approach next time instead of starting it all over again.
Problem – A business wants a role to be filled immediately. The HR team lists the vacancies and requirements for the positions on their website and other job portals.
Candidates will start submitting their applications along with their resumes. The HR team will have loads of resumes to be analyzed and filtered.
Let’s put that into perspective: Amazon reported that it receives more than 200,000 applications, roughly 18 applications per minute. Now imagine the scrutiny that the HR team has to face. Reviewing all these applications manually and filtering the right candidate is an impossible task.
Solution - To tackle this, businesses have started using an HRMS tool. This tool automatically filters the candidates that have matching skills for the role.
Once filtered, the tool can be programmed to automatically send an interview invitation email along with a simple test for further screening.
Now the tool will only allow the candidates to the next round if they pass the test in the first round. Nowadays, almost 70% of hiring processes are automated using a tool.
This saves time for the HR team and allows them to focus on employee onboarding and relationship-building activities rather than wasting their time in the paper-based manual process.
Problem – Workers’ compensation appointments are time-consuming for the entire staff, requiring multiple employees to complete certain steps. The patient may see any number of physicians in any number of specialties along the way, and their paperwork gets passed to numerous departments, including intake, scheduling, and billing, among others.
To make matters more complicated, the employees filling those roles are not consistent from one shift to the next.
The facility estimates each patient journey to encompass nearly 100 steps, and most of these steps vary every time. Some patients require blood work, some need imaging scans; and others need emergency care for broken bones or other injuries.
It can be confusing and time-consuming for employees to know which step needs to be completed next and by whom, especially when the facility has several patients at once.
Solution – Automating the workers’ compensation process from start to finish would make it easier for employees to know which step to complete next and automate some of the more menial tasks.
Some paperwork is standardized, for example, and can be completed using robotic process automation (RPA) and artificial intelligence (AI). Automating the creation of new patient files based on intake paperwork would improve the process dramatically.
Bots could confirm patient sign-ins and form completion, automatically sort documents into relevant folders, and print documents and literature for the patient to review and sign.
The facility could also use RPA and AI to notify new patients automatically, by email, that they have outstanding paperwork. Upon completion of these papers, the system would move the patient forward to the next step in the journey and notify the relevant employees.
Providing a way for participants to log in to a dashboard and clearly see their tasks reduces confusion and mistakes, allows for greater efficiency, and creates a chain of accountability within the system.
Problem – This pharmacy mixes topical medications on-site, blending various medicines into a base ointment. A pharmacist notices that they buy this ointment in one-ounce jars, and she uses 50 jars every day.
She further notes that their supplier offers a 50-ounce jar of ointment with a much lower per-ounce price point; the company could save money by switching their buying process.
Solution – Document the preference for bulk ointment purchases in official operating procedures. Train purchasing staff to default to the 50-ounce jar. Again, use a learning management system to deliver training materials and verify that staff has completed the training.
Problem – The insurance company’s claims adjudication process, which involves resolving insurance claims, used to take the team 59 days to complete. Interestingly, the contractual Service Level Agreement (SLA) for this process was set at 60 days. Therefore, the team’s goal was to finish the process just one day ahead of the SLA schedule.
Solution – By applying lean and continuous improvement principles, the Prime Vector team (a business process improvement solution provider) transformed the process, reducing it to just 59 minutes while maintaining efficiency. This illustrates the significant impact of these methods on streamlining operations.