Get the Quality Data You Need Instantly – Without Siloing
It used to be very typical for each department or division of a company to have its own software and/or records. This information siloing was a necessary evil in the days before the internet, but there is no excuse for it now.
Keeping data in silos delays operations because stakeholders must manually search different systems for the information they want. Workers may have to manually enter the same data into numerous systems, which increases the risk of data entry mistakes.
Keeping employees in “operational silos,” where they have little or no touch with other team members, can also be detrimental to the company’s bottom line. Because workers can’t clearly discern where a project stands and who is accountable for the following stages, they may unintentionally duplicate one another’s efforts or experience avoidable delays.
Fortunately, these issues may be solved by implementing a collaborative, online work portal that can be accessed at any time by any authorized team member. Our JDIO software is an excellent example of a silo-busting solution since it provides a safe, online environment in which essential data can be readily collected and shared across users.
Breaking free from data and operational silos is a great place to start when it comes to boosting collaboration and data-driven decision-making at your company.
There is one more trap to avoid
Different teams and departments will want to use your shared data lake to address a variety of questions. As separate business groups begin to store their own collections of reports, this has the potential to create a whole new set of silos. It may be difficult to communicate reports between departments as a result. When reports are shared, comparing findings might be difficult since various groups may have used different measures to address the problem and/or ran their reports on different dates, resulting in data that is incompatible.
Building specific analytic tools directly into your collaboration software, rather than allowing each department chose their own tools, is one method to combat this type of secondary siloing.
Our JDIO fund control software currently has some analytic features, and we can simply tweak it to provide more pre-formatted reports and/or the tools workers will need to create their own reports. This makes it simple for everyone to get an up-to-date report whenever they need it, rather than having to go through their own archives of previous reports to draw conclusions.
Please contact us if you’d like to learn more about our construction lender software solutions. We’ll be pleased to answer any questions you have and set up a free online demo for you.