Everyone knows that data is valuable. Some call it the new oil or the new gold. But having data alone isn’t enough. Its real power lies in the answers, insights, and actions it can drive. Thinking about data, there are different levels of value you can extract:
- Data Acquisition – First, you need to have data. You need a methodology and recurring process to gather it reliably. Without this foundation, nothing else matters.
- Data Validation – Next, ensure the data is accurate and clean. You must trust the information you’re working with, because flawed data leads to flawed decisions.
- Insights through Analysis – Raw data becomes useful when you analyze it for trends, metrics, and meaningful patterns. Visualization is often the best tool here, but knowledge of the process and industry is equally critical. It’s about knowing what questions to ask and understanding why they matter. With AI, the speed at which users can gain insights has accelerated dramatically, but there’s a catch: most users don’t know what they don’t know. They might have questions, but they often don’t know the right questions to ask in the first place.
- Actionable, Served Insights – The highest level is when insights are actively delivered. Top companies don’t just provide dashboards or raw metrics. They interpret the data and surface actionable insights. For example: “Based on the past 12 months, office building #3 shows a spike in usage. Likely causes include…” This level requires expertise and consultative guidance.
A strong partner or platform should not just host data, they should guide you to the insights that matter, help identify the right questions, and continually improve their platform to deliver this value efficiently. Advances in AI have made this feasible at scale, but only if the provider is committed to expertise and consultative service.
Ask yourself:
- Does my platform provide reliable and accurate data?
- Does my platform provide actionable insights, or just raw data?
- Does my partner add value in addition to the platform?
- Is the platform their primary focus, or just one of many business units?
- Are they actively improving the platform, or just maintaining the status quo?
If the answer is “no” to any of these, it may be time to find a new partner. One that helps you turn data into real business advantage.