In GSG’s latest podcast, Mark Warren, Director of Consulting, analyzes the top ten points of failure when it comes to embracing data visualization solutions for accounting and financial reporting purposes.
Data visualization solutions are becoming increasingly popular as companies adapt to the rapid growth of technology. Companies are implementing larger applications and growing through acquisitions, and they need tools to access lower level detailed information to successfully run their business. While there are many solutions to choose from with countless functionalities, all tools offer one main purpose – sending actionable data to those who need it.
Most solutions are easily adaptable, but that has not stopped companies from continuing to rely on what they’re comfortable with using – excel.
The transformation to a more sophisticated solution takes time, but it’s paramount to give your business the enterprise view of the data that you need and avoid data risk.
A data visualization solution allows you to set data requirements, validations, and ensure it’s coming from the proper sources, allowing you to have a more in depth understanding of what the data represents. This process can be complicated and must be done properly in order to produce the most beneficial results for your business.
This podcast explores the critical list that people often times overlook when implementing a data visualization solution:
- Selecting the Wrong Tool
- Mobilizing the Wrong Project Team Members
- Not Understanding the Source Data
- Not Completing a Comprehensive Detailed Design Document
- Setting Unrealistic Expectations with Key Stakeholders
- Not Establishing a Strong Program Management Office (PMO) Environment
- Not Completing a Limited Proof of Concept (POC)
- Engaging the Wrong Consulting Partner(s)
- Not Measuring or Managing Adoption
- Not Having Executive Sponsorship
GSG’s consulting team works to make sure that your data visualization solution will produce meaningful reports with actionable data. If you have any questions, please contact our team!Categories: Consulting, Technology Consulting