Data support for business turnarounds
When facing the large task of giving a new direction to a business, it is key to have objective information on which to base the strategic and tactical decisions. During such turbulent times it can be difficult to find a ground truth in the multitude of opinions. Having good data as an objective source of information can bring great value in providing a solid basis for decision making. However, often the operations that require a new direction may not always have an advanced business intelligence system with good quality data at their disposal to provide management with quality data and analytics.
What we do is create a source of data for the important financial, commercial and operational questions so we can provide a solid body of information to support the turnaround management team.
Sourcing the right data
To put together a relevant and valid dataset we will dig up the available data sources from the different departments. These datasets will be audited for validity and completeness. Most importantly, we will investigate how the data is generated so we take the real-world effects into account. Once we have collected the first batch of data we incorporate a process to continue the stream, so the dataset remains up to date. We clean the data and if possible combine it with other data sources to enhance the capabilities of the set.
Data analysis and consultancy
When we have collected the data in a central database and are confident of the quality we can start providing answers to questions. This stage is a vital component in supporting the management team. We provide analytics and consultancy on the most pressing questions so quick decisions can be made based on objective results.
Monitoring progress on key issues
Time is of the essence in business turnarounds. When the management team has identified the key objectives, they can be monitored with the newly available data. We provide the dashboards for these KPI’s to provide maximum visibility on progress.
Business Turnaround Support Services:
Support turnaround management team with objective information from data
Source and connect relevant data
Perform studies and business analytics
Create KPI dashboards for turnaround management team to monitor progress