What if Beethoven and Mozart Invented Their Own Notation System

sheet_music_violinTo appreciate how semantic notation can impact your business, take a step back for a moment and imagine if every composer from Mozart to Beethoven used a different notation system. How would conductors and musicians interpret the music in a moment without standardized notation? What if engineers didn’t have a standardized notation system? Most likely they wouldn’t be able to communicate vast amounts of information clearly and quickly.

Yet in business, there is an overabundance of ways to layout out corporate reports and dashboards. And even within a single company, you will find forecast data or averages defined and displayed differently. But with pattern recognition, you can immediately understand the context of that information. This is the essence of a standard notation system, which brings clearer, data-driven insights and faster visualization turnaround.

Communicate Vast Amounts of Data-Driven Insights with Clearer, More Aligned Messages

Executives can  digest and act on visual data faster when it is always laid out the same: forecast, averages, historical and all metrics always looks the same and are in the same layout. People learn quickly to recognize patterns, and this is helpful to interpreting volumes of data. Critical to good business decision-making is the ability to portray very dense amounts of information, while maintaining clarity. This is vital when extrapolating multiple metrics for data to understand how it relates to the business.

A visualization that shows a percentage breakdown of revenue into products is, in itself, not very useful. To act and make better decisions, you need to understand how revenue has changed over time and to compare it to other product lines, the budget, profit margin, and market share. Also, executives spend less time trying to align the data into one version of the truth when all metrics are calculated and portrayed using the same standards across all business units. Having a standard notation system in your business can help you foster data-driven culture and alignment for better decision making. 

Faster and Improved Visualization of Analysis and Insights

Although content creators spend less time inventing their own system and layout, they still follow guidelines. In speaking with people who have adopted international business communications standards (IBCS), they found, for example, that the average time to create dashboard dropped three-fold. Through standard notation systems, they shortened implementation times and improved the outcome of their analytics investments.

Don’t Start from Scratch – These Are Best Practices

One of the best-developed, semantic notation systems – which was only chosen by the SAP Executive Board back in 2011 – is based on an open source project called International Business Communications Standards. Anyone can join the association and benefit from years of thought leadership and best practices developed over decades. Plus, the community is included in the evolution of these standards.

Register for the Standards Course

OpenSAP allows you to learn anywhere, anytime and on any device with free courses open to the public.

This blog orignially appeared on the  D!gitalist Magazine by SAP and SAP Business Objects Analytics blog has been republished with permission.

 

Dresner’s Advanced and Predictive Analytics Study Ranks SAP #1 for Second Time in a Row

By  Chandran Saravana,  Senior Director Predictive Analytics Product Marketing

For the second year in a row SAP has received the number one ranking in the Wisdom of Crowds 2016 Advanced and Predictive Analytics Market Study by Dresner Advisory Services. The Dresner study reached over 3000 organizations and vendors’ customer communities and 20+ industry verticals with an organization size ranging from 100 to 10,000+.

Study findings include:

  • Organizations view advanced/predictive analytics as building on existing business intelligence efforts.
  • Over 90% agree about the importance and value of advanced and predictive analytics.
  • Statisticians/data scientists, business intelligence experts, and business analysts are the greatest adopters of advanced and predictive analytics.
  • Regression models, clustering, textbook statistical functions, and geospatial analysis are the most important analytic user features/functions.
  • Usability features addressing sophisticated advanced/predictive analytic users are almost uniformly important today and over time, led by easy iteration, advanced analytic support, and model iteration.
  • In-memory analytics and in-database analytics are the most important scalability requirements to respondents, followed distantly by Hadoop and MPP architecture.

I find it interesting that the Dresner study finds “Hybrid roles are also evident” and confirms SAP’s customer organization usage of predictive analytics. The research study looked at core advanced and predictive features, data preparation, usability, scalability, and integration as key criteria to rank the vendors.  Though usability criteria looked at many things, I would like to highlight one key one—“Support for easy iteration”—that ranked as most important.

In the scalability criteria, “In-memory analytics” ranked as most important one followed by “In-database analytics” and “In-Hadoop analytics (on file system).”

Read the Complete Dresner Report

You can find lots more in the 92-page Dresner Wisdom of the Crowds report. I invite you to take a look.

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I Think We Need a GRC Tool. Where Do We Start?

 by Thomas Frenehard,                                               SAP GRC Solution Management

compassI’m not going to say that I have this question every Monday morning, but it does pop up rather more often than I would have expected. This is especially the case when risk, compliance or audit departments ask their IT counterparts to send them a list of suitable governance, risk and compliance (GRC) vendors but fail to really explain what they need.In essence, the request to their mind is pretty simple—just get me the list and rankings published by “[…] and […]” ( fill-in-the- blank spaces with your favourite analyst companies). That should do the trick.

This is usually what triggers the question above, with the IT department reaching out asking for a discussion on what is a GRC solution to ensure that they only source relevant options to present to their internal clients.

As mentioned by my colleague Jan Gardiner a few weeks ago (GRC ≠ Access Authorization Management), for us at SAP, the GRC portfolio is a combination of more than 10 solutions.

As a result, before even going further into any discussion, my answer is always the same, ”Well, what do you need to do?” I could spend hours explaining and illustrating the benefits of a full internal control solution, but if the original request comes from the audit team who is looking for a tool to help them support their risk-based auditing process, I’m not sure it’ll be of much use.

What’s the Requirement?

So first things first—define the need. Easier said than done of course, but it will be the foundation for everything. In case the requiring team doesn’t have a predefined idea of what exactly it is they need in terms of detailed requirements, you can always reach internally and see what is already available and being used (tools, spreadsheets, shared drives,).

Even if you then decide that none are the right option, this will still give you a good idea of what people are using today and for what purpose. And if you push your investigation further and interview the key users, they might even tell you what they currently lack. This is essential as it may lead to needs or pain points that are beyond the ones initially expressed.

Prepare for Today but Plan for Tomorrow

Now that you know the requirements, define where you are today and where you want to be tomorrow (or the day after). And keep in mind that a tool will never solve all your problems at once but it can bring new ones if expectations aren’t managed properly.

Using the information you collected above, work on a roadmap—what would be the first features needed today to facilitate work life, and what is,at the moment,  a “nice to have” but that you know will be important in the future.

With this in mind, start prioritizing so that the tool selected will be able to answer the immediate requirements, but also accompany the company as it evolves.

Leave Tabula Rasa to Aristotle!

Your company already has a wealth of risk registers, control libraries, audit repositories, and so on.

This is the “GRC memory” of your company and you certainly don’t want to get rid of it.

Collect as much as you can and then work with the business owners to review the data—define what should be carried forward, what is redundant and can be let go, and so forth.

And for what you decide is worth keeping, ensure that it’s complete and well documented. This way, not only will you embark on a new tool, but you will also have secured the consistency of the imported data. No need to have a Formula 1 car if you don’t have the right fuel, right?

Of course, I have over simplified the process, but for  a short blog that was my intent. But I hope this has still given you some food for thought for the next time your business owners call saying, “We need a GRC tool, what do you suggest?”

I look forward to reading your thoughts and comments either on this blog or on Twitter @TFrenehard