A recent Harvard Business Review study found that data scientists spend 80% of their time cleaning and shaping data, and only 20% of their time analysing it. More can be done to optimise data analysis, and it starts with the right data preparation.
One of the biggest challenges facing organisations and customers today is, without a doubt, the correct data preparation.
Companies are unable to readily analyse the data collected for many reasons, either because data is incomplete, in the wrong shape, or coming from different resources. Other reasons include data complexity, human error, or a poorly calibrated measurement system.
Hence the complicated and time-consuming process of organising data before the analysis can take place. Gathering data in a useful form may require specialised skills companies might find difficult to access, but it is an absolute prerequisite for efficient data analysis.
The new release of Dynamics 365 for Operations is Microsoft’s new business solution for medium to large organisations. Dynamics 365 for Operations was previously known as AX7 and is a single software system that helps run businesses more effectively. It is a digitally transformed financial and operational ERP system.
Firstly, using the right data is important to train the predictive model analysis to generate useful insights. The preparation and input of historical data becomes important. Secondly, current data generated needs to be as accurate and properly labelled as possible for future decision-making.
Given the above, most business’ data fail to meet the required criteria for fast predictive models and efficient data analytics. It justifies why data cleansing before input and analysis requires so much of the focus to compensate for irregularities when the emphasis should be more on data preparation and how it impacts the predictive model.
However, cleaning data is not necessarily beneficial to detect and eliminate misunderstandings and errors that affect predictive analysis down the line. The best line of defence remains an adequate preparation of data, which ultimately involve improving the quality of data input, clarifying business objectives, and a better data auditing process overall.
Microsoft Dynamics for Operations
Contact Decision Inc. Immix and speak to one of our experienced Microsoft Dynamics ERP consultants if you would like to see how Dynamics AX/Dynamics 365 for Operations can help your business.