Data Driven Decisions – How and Why: Webinar

 

At our recent webinar, “Data Driven Decisions – How and Why”, one thing really stood out: 100% of respondents agree that they have drawn a picture to help explain something so it is easier to understand.

While we have all heard “a picture is worth a thousand words”, nothing is more compelling than proof in the form of complete consensus. The result of this poll question really should not come as a surprise. After all, as we noted in the webinar, the human brain can process images 60,000 times faster than text.[1] Our brains are hard-wired to seek out patterns and trends in the things we see. It is in our nature to draw on our experience and knowledge to interpret what we are seeing? 

But something did catch us by surprise. 80% of the poll respondents said they go directly to the registers (including the ASIC registers, the PPS Register, and the land registries of the States and Territories) for commercial information they need to make decisions, such as for providing legal, financial, restructuring or other professional advice to clients. Well, we have news for you – there is a better way! Picture this (and this is just one example), an extra pair of hands to help you verify a company's identity before ordering a report. One that you can customise by running a combined ASIC Current Company Extract and the PPSR Organisation Grantor Search. Your tailor-built report includes a summary of the commercial information from both reports, and you can have the summary in chart form. 

As 40% of people respond better to visual information than plain text[2], this chart is a formidable tool. With the aid of visuals, you can discover otherwise hidden links using a manual search. This is empowering as you are better equipped to make the right decisions in a timely manner. In the current economic and regulatory climate – think the banking Royal Commission that is on foot and in the news almost every day – we are all under more pressure than ever to make the best possible decisions for our stakeholders. Wouldn't it be nice to de-risk tedious manual processes and gain peace of mind that you have covered all the facts, fast? Indeed, the answer is yes!

This takes us to a recap of the 2 key lessons of the webinar:

  • 1.Organisations around the world, including professional services firms and regulators, are embracing a data-driven culture to make intelligence-led decisions.
  • 2.Commercial information management and visual information management are sought-after skills that will help organisations and professionals make the right decisions for their stakeholders.

We are pleased that the webinar has helped attendees better understand data and information management, especially regarding the power of visualisation. Let us show you the Encompass advantage – contact us for a demo of Encompass, a fully customisable data visualisation tool. 

If you'd like to find out what you missed you can watch the webinar  here . To download the webinar slides, please click  here .


 

[1] David Konigsberg. 2013. INFOGRAPHICS: The Future of Marketing. [ONLINE] Available at: http://blog.optimaltargeting.com/2013/08/infographics-the-future-of-marketing/. [Accessed 15 May 2018].

[2] Ibid

 

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