Data Lakes and Embedded Analytics: Unified view for Printing & Publishing Companies
In the modern business landscape, data is the lifeblood of any organization. For companies operating in the print industry, data is crucial for achieving operational excellence, supply chain efficiency, and financial success. However, print companies often have to deal with vast amounts of data that come from disparate sources, making it challenging to extract meaningful insights. This is where data lakes and embedded analytics come in, offering a unified view that can help print companies achieve their goals.
What is a Data Lake?
A data lake is a centralized repository that allows organizations to store and manage structured and unstructured data at any scale. Unlike traditional data warehouses, which require data to be transformed and structured before storage, data lakes enable organizations to store all types of data in their original format. This means that data lakes can capture large volumes of raw data from various sources, including social media, customer interactions, and transactional systems. In essence, a data lake is a storage pool that enables organizations to analyze large amounts of data in a scalable, flexible, and cost-effective manner.
What is Embedded Analytics?
Embedded analytics refers to the integration of data analytics capabilities within an organization’s core systems and applications. Rather than analyzing data in separate systems, embedded analytics allows companies to access analytics within their existing workflow. This means that decision-makers can get insights from data in real-time, without having to switch between applications. Embedded analytics also enables companies to embed visualizations and dashboards directly into their applications, making it easier for non-technical users to access and understand data.
Benefits of Unified View and how data lakes help
The combination of data lakes and embedded analytics offers print companies a unified view of their operations, supply chain, content, and finance. This provides decision-makers with a comprehensive view of their business, allowing them to make informed decisions based on real-time data.
Unified view:
A unified view of data enables decision-makers to see how different areas of their business are performing. This can help companies identify trends and patterns that might not be apparent when looking at individual data sources. For example, by analyzing data from across their supply chain, print companies can identify where there are bottlenecks and inefficiencies, enabling them to make changes that improve productivity and reduce costs.
Real-time insights:
Data lakes and embedded analytics offer real-time insights, allowing decision-makers to respond quickly to changing market conditions. For example, by analyzing customer data in real-time, print companies can identify trends and preferences, enabling them to tailor their products and services to meet customer needs.
Improved decision-making:
A unified view of data enables better decision-making, as decision-makers can see how different areas of their business are performing in real-time. This means that print companies can make more informed decisions based on data, rather than relying on gut feel or incomplete information.
KPIs for Printing & Publishing Companies
KPIs related to Print companies that Data Lake and Embedded Analytics can provide for Operations, Supply Chain, Content, and Finance
Operations:
Printing capacity utilization: This KPI measures the percentage of a print company’s printing capacity that is being utilized. By analyzing this KPI, print companies can identify when they need to invest in new equipment or shift resources to better balance capacity.
Order cycle time: This KPI measures the time it takes for a print company to fulfill a customer’s order from start to finish. By analyzing this KPI, print companies can identify where there are bottlenecks in their production process and make changes to reduce cycle time.
Waste percentage: This KPI measures the percentage of materials used in the printing process that end up as waste. By analyzing this KPI, print companies can identify where they are wasting materials and take steps to reduce waste.
Supply Chain:
Inventory turnover ratio: This KPI measures the number of times a print company’s inventory turns over in a given period. By analyzing this KPI, print companies can identify how quickly they are moving inventory through their supply chain and make changes to improve efficiency.
Supplier lead time: This KPI measures the time it takes for a print company’s suppliers to deliver raw materials or finished products. By analyzing this KPI, print companies can identify where there are delays in their supply chain and make changes to improve lead times.
Order fill rate: This KPI measures the percentage of customer orders that are fulfilled on time and in full. By analyzing this KPI, print companies can identify where they are falling short in fulfilling orders and take steps to improve customer satisfaction.
Finance:
Revenue per employee: This KPI measures the amount of revenue generated by each employee in a print company. By analyzing this KPI, print companies can identify where they are getting the most return on their investment in human capital and make changes to improve productivity.
Gross margin: This KPI measures the difference between a print company’s revenue and the cost of goods sold. By analyzing this KPI, print companies can identify where they are making the most profit and make changes to improve their margins.
Accounts receivable turnover: This KPI measures the number of times a print company’s accounts receivable turns over in a given period. By analyzing this KPI, print companies can identify how quickly they are collecting payment from customers and take steps to improve their cash flow.
Content:
Page views: This KPI measures the number of times a print company’s content is viewed by users. By analyzing this KPI, print companies can identify which types of content are most popular and create more content that resonates with their audience.
Time on page: This KPI measures the amount of time users spend on a print company’s website or content. By analyzing this KPI, print companies can identify which content is engaging their audience the most and make changes to improve the user experience.
Engagement rate: This KPI measures the level of interaction that users have with a print company’s content. By analyzing this KPI, print companies can identify how engaged their audience is with their content and make changes to improve engagement.
Conclusion
In conclusion, Printing & Publishing companies can benefit greatly from data lakes and embedded analytics. By providing a unified view of data and real-time insights, print companies can make informed decisions based on data rather than relying on gut feel or incomplete information. By analyzing KPIs related to operations, supply chain, content, and finance, print companies can identify areas where they can improve efficiency, reduce costs, and increase revenue. With the right tools and strategies in place, print companies can harness the power of data to achieve their business goals and thrive in a rapidly evolving industry.