Data-Driven Departments:Developing Data Products
For an organization to succeed, all departments need to be on the same page. To enhance their efficiency, they can use data products to gain new insights. From HR using predictive analytics to improve talent management to Sales using data insights to improve lead conversion, each department faces unique challenges.
Support teams can significantly improve the customer experience through feedback analytics, while procurement can optimize supply chain efficiency through market trend data. Marketing can benefit from targeted campaign strategies and ROI assessments, finance can more accurately predict financial trends, and product development can create new innovations with customer-centric data.
With One Data, your departments can develop these data products themselves and share them with each other for different use cases.
Data productsfor departments
Sales
On a daily basis, sales teams must efficiently identify and convert viable leads in order to contribute to the company’s success. Data products provide insight into key success factors, such as identifying high-potential leads and optimizing conversion strategies. As a result, you can streamline the sales process, maximize revenue, and minimize resources.
Data sources:
Sales transactions, product and service catalog, sales rep interactions, marketing campaigns, pricing
Data sources:
Sales transactions, cost of goods sold (COGs), pricing by product, inventory and costing, supplier and vendor data, operating expenses, revenue, accounting systems
Data sources:
Sales transactions, historical sales, financial systems, customer relationship management (CRMs), market share, sales forecasts
Data sources:
Marketing campaigns, sales and CRMs, advertising and promotion, lead generation, financial and accounting systems, vendors and suppliers, attribution and tracking
Data sources:
Customer purchase history, customer segmentation, product or service data, customer feedback and surveys, customer relationship management (CRM), revenue and sales
Support
One of the biggest challenges support departments face is responding quickly and efficiently to customer requests and ensuring high levels of customer satisfaction. Data products can help you identify recurring issues and optimize response strategies. As a result, you can resolve issues more efficiently and improve customer satisfaction.
Data sources:
Ticketing systems, help desk software, customer communications, customer relationship management (CRM), support portals, knowledge bases, call centers, customer feedback
Data sources:
CSAT surveys, customer communication, support tickets, customer relationship management (CRMs), feedback and review platforms, employee feedback and performance
Data sources:
Ticketing systems, help desk software, communication channel logs, customer relationship management (CRM), call centers, workforce management systems, service level agreements (SLAs)
Data sources:
Ticketing systems, help desk software, communication channel logs, call centers, workforce management systems, service level agreements (SLAs)
Data sources:
Costs, ticketing systems, help desk software, support agent data, workforce management systems, communication channel logs, cost allocation systems
Procurement
Procurement departments need to coordinate collaboration with multiple suppliers to effectively manage costs, maintain supply chains, and mitigate risk. Data products provide insight into operational issues such as order efficiency and supplier performance. With this insight, procurement teams can secure operations and make the supply chain efficient and smooth.
Data sources:
Procurement systems, contract management systems, supplier performance, audits and inspections, regulatory and compliance data, internal policies and procedures, incident and non-compliance reports, training and certification records
Data sources:
Quality control and inspection reports, supplier performance evaluations, internal quality data, supplier provided data, customer feedback and complaints, return merchandise authorizations (RMAs), supplier collaboration and communication
Data sources:
Purchase order system, invoice management, procurement systems, vendor and supplier records, internal financial systems, supplier communication and correspondence, audit and quality control reports
Data sources:
Purchase orders, supplier performance evaluations, delivery tracking systems, supplier communication and documentation, supplier relationship management, historical purchases and deliveries, supplier surveys and questionnaires, internal procurement and operations
Data sources:
Accounting and financial systems, procurement systems, invoice and PO processing metrics, time tracking systems, vendor and supplier invoices, procurement team and staffing, process improvement initiatives, cost reduction projects
Product
Product departments must constantly drive innovation, bring new features to market, and differentiate their offerings from the competition. Data products can be used to support customer retention and increase customer lifetime value. They can help you better tailor your offerings to your customers’ needs, resulting in greater market success and customer loyalty.
Data sources:
Product analytics, application or server logs, in-app tracking, user feedback and surveys, customer support tickets, help desk software, A/B testing or experimentation platforms, user demographic and segment data
Data sources:
NPS surveys, customer feedback forms, customer support interactions, online reviews, social media monitoring, sales and conversions, customer relationship management (CRM), competitive benchmarking
Data sources:
Application or system logs, user authentication and account data, usage tracking tools, mobile app analytics, customer relationship management (CRMs), third-party integrations, in-app surveys or feedback
Data sources:
Application or system logs, user interaction tracking, product analytics tools, in-app tracking, database or API calls, clickstream data
Data sources:
Trial user accounts or registrations, user interaction tracking, in-app surveys or feedback, conversion funnel tracking, user support interactions, trial performance, exit surveys or exit intent
Human Resources
HR departments are responsible for recruiting top talent, keeping employees engaged and, ideally, turning them into advocates for the organization. Data products provide new insights to support organizational development. Data products enable HR teams to better understand and improve the employee experience, which contributes to a robust and engaged workforce.
Data sources:
Employee surveys, employee feedback channels, performance reviews and appraisals, employee exit interviews, employee engagement platforms, performance metrics and indicators
Data sources:
HR systems, employee databases, exit interviews and surveys, performance metrics and appraisals, employee surveys and feedback, HR analytics and reporting, talent management systems, payroll and compensation
Data sources:
Payroll and HR, employee benefits and insurance providers, recruitment and hiring expenses, training and development costs, HR operational expenses, employee exit data
Data sources:
Employee exit data, employee surveys and feedback, performance management systems, employee engagement platform, HR system and employee databases, performance metrics and productivity data, talent management systems
Data sources:
Time and attendance systems, HR information systems (HRIS), payroll systems, leave management systems, employee self-service portals, HR surveys and feedback, health and wellness programs
Marketing
Marketing departments strive to drive business growth, increase brand awareness, and improve customer acquisition. Data products help provide new insights into and improve marketing activities. Marketing teams can adjust and refine strategies to achieve greater impact and make the best use of resources.
Data sources:
Web analytics, marketing automation platforms (MAP), customer relationship management (CRM), advertising platforms, social media analytics, referrals, UTM parameters
Data sources:
Web analytics, customer relationship management (CRM), marketing automation platforms, advertising platforms, landing page tools, multi-touch attribution models, custom tracking and tagging
Data sources:
Marketing campaign tracking, customer relationship management (CRM), advertising platforms, marketing automation platforms (MAPs), cost data from marketing expenses, sales
Data sources:
Customer relationship management (CRM), sales, marketing automation platforms (MAPs), web analytics, attribution models, cost data from marketing expenses, financial systems
Data sources:
Cost data from marketing expenses, revenue, customer relationship management (CRM), sales, marketing campaign tracking, web analytics, attribution models
Finance
Finance departments are primarily concerned with helping companies effectively plan and analyze resources. Data products enable them to make informed decisions, optimize resource allocation, and maintain a healthy balance between various financial aspects, which contributes significantly to the financial stability and growth of the company.
Data sources:
Balance sheet, general ledger, accounts payable and receivable systems, cash flow statement, financial systems and enterprise resource planning (ERP), procurement and inventory systems
Data sources:
Financial statements, investment records, costs, revenue, cash flow, investment performance metrics, ROI models and tools
Data sources:
Income statement, general ledger, revenue, cost of goods sold (COGs), operating expenses, financial systems and enterprise resource planning (ERPs), cost accounting systems, budget and forecasts
Data sources:
Balance sheet, financial statements, long-term debt records, equity records, debt schedules, shareholder and ownership data, financial systems and enterprise resource planning (ERP)
Data sources:
Cash flow statement, general ledger, sales and revenue, expenses and costs, accounts receivable and payable, financial systems and enterprise resource planning (ERP), sales and expense forecasting
Common systems:
AllScripts, Anaqua, Anaplan, Apriso MES, ARISg, Apttus, BioClinica CTMS, Brandwatch, Cerner, Cerner Millennium Pharmacy, ComplaintPro, Conga Contracts, CPA Global, Empirica Signal, Epic, Epic Willow, Florence eBinders, Fishbowl, Freshdesk, GlobalData, Hootsuite, Icertis, Intuit QuickBooks, IQVIA, Jira Service Management, Medidata Rave, Microsoft Dynamics, Microsoft Excel, Microsoft Project, Microsoft Teams, Model N Revenue Cloud, NetSuite, OpenClinica, Oracle AERS, Oracle Argus Safety, Oracle Clinical Trial Management System, Oracle ERP, Oracle Financials, Oracle Health Sciences, Oracle Sales Cloud, Oracle Supply Chain Management, PAS-X, Pure, QuickBooks, REDCap, Revitas, Salesforce, SAP, SAP Inventory Management, SAP S/4HANA, SAP Supply Chain Management, ServiceNow, SharePoint, Siemens SIMATIC IT, Slack, SurveyMonkey, Sympletic Elements, Veeva CRM, VigiFlow, Xero, Zendesk.
Making data usable for everyoneBenefits of One Data
Build, manage and share data products
Build
Enhance HR, Sales, Marketing, and Finance decision-making with integrated data, boosting efficiency and market responsiveness.
Manage
Improve data management across departments with tools for quality and consistency, ensuring operational reliability.
Share
Share and collaborate on data products securely, supporting innovative strategies in HR, Sales, Marketing, and Finance.
Reuse
Optimize departmental processes by reusing existing data products, enhancing efficiency and quality in business operations.
Frequently asked questions
Data products offer HR teams advanced insights into employee engagement, performance, and retention. They enable a deeper understanding of workforce dynamics, aiding in talent acquisition, optimizing training programs, and developing strategies to increase employee satisfaction and productivity.
Sales teams can leverage data products to gain insights into customer behaviors and preferences. This helps in identifying high-value leads, tailoring sales strategies to individual customer needs, enhancing lead conversion rates, and ultimately driving revenue growth.
Data products equip marketing teams with detailed insights into customer engagement and campaign effectiveness. They can track and analyze customer responses, refine targeting strategies, assess ROI on marketing spend, and adjust campaigns in real-time for maximum impact.
Absolutely. Data products offer finance teams comprehensive analytics for financial forecasting, risk assessment, and resource allocation. They provide valuable insights into cash flow, profitability, and financial health, enabling informed decision-making and effective risk management.
Data products help support teams by providing analytics on customer inquiries and feedback. This leads to faster resolution times, improved customer satisfaction, and insights into common issues or trends, allowing for proactive measures to enhance overall customer experience.
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