In a world comprising endless data points, it is essential that your data is transformed into meaningful insights in order to guide and inform strategic decision making. Our data analytics team interrogates both an organisation’s internally created data as well as external data sources to make sense of these insights, thereby equipping businesses with robust and quantifiable answers.
Discover, analyse and interpret data
We know that business leaders are often overloaded with too much information to make a clear decision. We step in by working closely with you and your business to define the problems you are trying to solve by applying data insights to inform viable solutions.
Our data analytics team makes sense of the different sources of data within your business by structuring this data using appropriate tools in order to obtain vital insights that can be leveraged by decision makers.
Step Advisory has access to a number of third-party proprietary datasets which are often used to augment and enhance data, ensuring we can deliver unique insights and perspectives.
We will work with you and your business to discover, analyse and interpret data. Together we will gain new insights into your business operations, better understand customer behaviour and identify new growth opportunities with the potential to deliver tangible business results.
How can we help your business?
- Data discovery: Before rushing into the data analysis exercise, experience has taught us to spend time ensuring that the right questions are being asked. This is important as it highlights the different types and sources of data which could be leveraged. Clarity on what is being measured and how we will proceed is essential.
- Data collection: Once the variety of data sources has been assessed we move into the data collection stage, which involves collecting relevant data and organising it in a logical structure. It is essential to get the data into a format that can be manipulated, augmented and processed. Our data analytics team builds data models which allow for easy data refresh, effectively ensuring that our data models can be leveraged with refreshed data updates and are not static data views.
- Data analysis: At this stage, data is plotted, pivoted and segmented in several different ways as the team searches for correlations. Data analysis tools and software are extremely helpful, but nothing quite compares to Microsoft Excel in terms of decision-making tools. The appropriate tool is leveraged according to the size and nature of the database being interrogated.
- Insights and interpretation: The final stage focuses on the story the data is telling. This must be understood and translated to answer the questions posed at the beginning of the process. Interpreting the data often leads to new questions and, at this point, decisions must be made in terms of the next steps. Very often we either look to market research to validate some of the answers that were produced or develop a model or framework for business to use these insights as part of a daily business function.