Software development and systems integration firm Trilix announced a new business-intelligence division that will work to help companies use their data more wisely. On June 11, at the Save The Bay Center in Providence, the company will offer a free seminar on the topic. Trilix co-founder Erica Davies says executives from all industries can benefit.
PBN: Your upcoming event, “Data Rich, Information Poor,” is billed as focusing in part on potential productivity gains for businesses. Can you describe what some of these gains might include?
DAVIES: It focuses on how organizations can leverage business intelligence and the right software solutions – Power BI, Tableau, Stitch, Panoply, etc. – to strengthen the way they leverage their data. These solutions help eliminate the inordinate amount of time each day that we spend on sifting through data, pulling manual reports and determining where the single source of truth of our data exists. Organizations that begin to implement business-intelligence solutions start to see gains that include automating reporting processes; expediting and quantifying decision-making processes; and creating real-time, immediate access to business information.
PBN: Why did Trilix decide to begin offering business-intelligence services?
DAVIES: We are passionate about helping organizations leverage technology as an accelerator to move their businesses forward. A chief way we can do that is by helping businesses get access to the right information at the right time and in the right format. BI naturally falls in line with that. The launch comes out of interest from our existing and potential clients and naturally connects to our core offerings of application development and systems integration, which typically expose us to clients’ data sources.
PBN: What are some kinds of businesses that would benefit from the upcoming session?
DAVIES: All leaders who rely on data regularly to make decisions. But we believe the topic will be of specific interest to those in financial services, asset management, health care, and real estate and property management. These types of businesses stand to benefit a great deal from learning how to centralize their data, create meaningful dashboards and reports, and find correlations between activities and outcomes, among other things.
PBN: Would it be a true statement to say that many companies are not using data to its full advantage?
DAVIES: We feel that many leaders will relate to the concept of feeling “data rich, information poor.” They know they have a lot of data that they are capturing, but they don’t feel confident that they are maximizing the information to make strategic business decisions.
“Business Intelligence” is a phrase that is capturing the attention of so many business leaders because they know they can be doing better in terms of leveraging their data to have organizational gains.
PBN: What is an example of a data-driven performance gain?
DAVIES: Our clients are starting to leverage data in some really interesting ways. For example, a financial-services client with large institutional investors has their employees closely monitor investments. Using data, they drive their employees to quickly make decisions on the potential problem areas where they can devote more time, and less so on investments doing well; this maximizes the use of resources.
The data also serves as an early-warning system for areas that may be starting to trend in the wrong direction. Data can also be used to validate conventional wisdom, for example, to show that certain standard activities don’t add value.
Susan Shalhoub is a PBN contributing writer.