Time and again, across Red Oak Strategic’s corporate engagements and particularly in the Financial Services industry, our team has found that key stakeholders often lack insight and analysis into the data behind their operations. Be it client holdings, portfolio company performance or even their own deal pipelines, there is often a massive blind spot for the C-Suite. More often than not, this is a result of antiquated data management practices (Hello Excel reliance!) and a hesitancy to rely on internal IT teams due to the bureaucracy and extended timelines often associated with new technology projects. However, in industries such as financial services, having clean, efficient data pipelines is mission critical to the entire operation, especially in today’s data-centric economy. Furthermore, effective data management is the key to more robust analytics that, in turn, lead to greater insights and better decision making from stakeholders.
Red Oak Strategic recognizes that as companies grow, data and analytics plans that were once effective at a small scale: manual intake, scattered storage, and ad hoc scripting, fail to keep up. But change doesn’t have to be painful! Unfortunately, our engagements usually begin once the cost and failings of ad-hoc data analytics, pieced together by non-data professionals, become a real pain point. Undoing the bad habits built by years of improper data management tends to take more time and cost more than building from scratch.
The Red Oak Strategic team knows this from previous engagements where we have helped build tailored products for organizations of all sizes and data needs. For companies who lean on legacy systems, data visualization tools can be built on top of existing software, enhancing systems instead of replacing them. This keeps stakeholders in their comfort zone and limits the financial and time costs of full overhauls. For executives in need of a better way to track the performance of their teams and investments, Red Oak Strategic has designed precision dashboards that bring key trends to the forefront while allowing leaders to still dive deeper into areas of interest and concern. Finally, for businesses ready to take bold steps forward, Red Oak Strategic has built pipelines that lean into cloud storage and computing along with modeling and machine learning to place mission critical processes on the cutting edge of data science and analytics.
Data visualization tools, whether in the form of quick KPIs and topline summaries, automated and dynamic reporting, or fully featured dashboards that allow for highly detailed tracking, are a requirement for any modern business. These tools provide the chance for C-suites and stakeholders to recognize hard-to-spot patterns and increase the speed and confidence of decision making. As analytics professionals, Red Oak Strategic knows the costs of ignoring proper data management and analytics practices. Our team specializes in rapidly building the customized tools and solutions that provide greater efficiency and better insights for leadership and C-Suite teams. With a focus on automation, accuracy and deep analysis built around existing platforms, we give organizations the power to leverage their data to make the most informed decisions possible. Talk to us today!