Data automation: the future of data analytics Global from Unit4 Communications April 28, 2021 | 5 min read Share If your organization is to flourish in the face of constant change, you need the right kind of enterprise software. Software that makes data usable and smart. And that's where data automation comes in. But what will your data analytics look like in the future? Automated analytics will liberate, not replace, people To start, let's tackle the big misconception about data and any other kind of automation. People always assume automations will replace them? It's a deep-seated misconception. But the truth is, used to their full potential, automations set your people free. This is exciting when you consider that McKinsey has found that 60% of your back-office and admin tasks will become automated in the future. Particularly, as the same report found that, despite automating 60% of activities, less than 5% of jobs will be replaced. So, the stereotype of mass redundancies is a fallacy. The reality is data automation lets you take away the most repetitive and stressful tasks. And free your most valuable asset, your people, to focus on work that matters more—making tools like this essential to your organization and people's success and development. So, if your people are going nowhere and now have more time, what can they achieve with data automation. Go beyond productivity The focus on data automation's perceived downsides has distracted people from seeing the real benefit: improved productivity. People also make a mistake with automation of assuming that higher productivity results from machines doing tasks faster than people. That's not the full picture. Data automation is often simply powering better work experiences and delivering enhanced insights that let your people achieve more. It does this by giving your people the data, tools, technology, and, most importantly, the time they need to create real value. How data can support leaders, culture, and clients Data automation simplifies and streamlines your operations. Letting your managers move from managing processes to managing people. Giving them back the time they need for coaching and mentoring while using data-based management practices to drive results and nurture talent. All this data will also help you understand and tap into your people's real potential. Driving a culture of development, innovation, and excellence. Your data can also continually deliver a clearer picture to clients using analytics, advanced reporting, and clear visualizations on top of all this. And do it automatically while freeing up more time to nurture and build relationships based on trust and satisfaction. Better execution and operations You can use data automation and its result to optimize project management practices. Helping you grow and transform how you deliver services and value-added products and features. And you can do all this while making sure all your planning and operations keep fiscal realities at the heart of every decision. Make connections Data automations use integrations with other systems without a great deal of IT expertise. Easily set up, they don't need 'experts' to create the outputs, which means nothing is set in stone. Instead, your data flexible and adaptable by anyone who needs them. And at Unit4, they're built with a people-first mindset. This approach prioritizes human impact and makes using them more intuitive, more effective, and more inspiring. It also means that whatever the future brings, the people who use the software are always in control, able to adapt to new ways of working and adopt new business processes as necessary. So, insights from all areas of your business are only a click away. Why you should care about data The rise of data in the past decade has been unprecedented. Now we can collect and process more data than ever before. But why are we doing this? The reality is, used well, data analytics can drive business decisions and deliver improved results. But you have to know what you're looking for and have a way to find it to forecast accurately. Data automation helps do this. When forecasting, to truly harness the power of data analytics, it's crucial to link financial metrics with non-financial ones and use statistical regression modeling. Data automation lets you do this faster and more accurately. It also means not everyone working with your data needs to have a 'data' background. Meaning the power of your data is now back in the hands of everyone who needs it, not just analysts. And without diluting the power of the data you use because everyone knows it is accurate and reliable. Smarter predictions Data automation can help you quickly identify where you're going and what you should do about it. Our AI analytics data automations use both granular and aggregated data to predict operational data patterns and pre-populate values in budgets and forecasts. You can even pull information from external sources like social media. Imagine your system warning you not to rely on the future payments from a customer caught in a Twitter storm and now heading towards bankruptcy. It's no longer just a dream. Think strategically All of the above gets rid of your repetitive and tedious tasks! Data automation frees you to work only on exceptions and event-based triggers. That means you can focus on your role's strategic aspects and spend your time doing more meaningful work. Allowing you to add more value to your organization. Where does data automation fit in for you? By using data automations to work smarter, you can transform how you work. They let you eliminate repetitive, low-value data tasks and let your people focus on more impactful and meaningful work. They go beyond helping you find simple efficiencies and savings and free your people to innovate, lead and transform your organization. How Unit4 can help with your data automations Our suite of People Experience solutions will free your people to focus on what matters: their success and yours. Letting you elevate your business, harness meaningful insights, and energize your people. And our smart data automations are at the heart of this. So, speak to one of our team if you want to take your insights further than ever in the future. Discover what your data can really do for you with Unit4. Sign up to see more like this Unit4 Communications More from Unit4 Communications ESG Reporting will soon become mandatory, here’s how you can prepare your organization with an integrated FP&A solution What is FP&A Lite and how can it improve my Unit4 Financials system? 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