Note: This is an excerpt from our ebook, “Forecasting and Optimizing Capacity: Why the Future of Your Business Depends On It.” Download the full ebook to learn more.
Most businesses are running systems that naturally generate valuable data. However, it may not be trustworthy unless steps are taken to verify the data.
Your organization’s data may be siloed, but by integrating your different solutions, the data they produce can be combined and either confirm the insights being generated, or highlight incongruities or flaws. Make sure to include leaders from different departments during strategy planning to ensure they will understand the thought process behind integration and support the efforts to make this process a success.
How to Reach This Level
Create Robust Integration
Project management, resource management, finances, time entry, and all systems of record used for business processes are the main data sources for services organizations, but they need integration to support continued advancements through the Capacity Planning Hierarchy.
An effective integration strategy will need to catalog all of the data being generated by a company’s systems and ensure that these are all properly flowing into a system of record that orchestrates them all, or are effectively replaced by a new system that does not lose valuable data. When done correctly, integration will validate a business’ data to better understand current capacity and begin creating insights that forecast future capacity.
Build on Flexible, Trustworthy Tech
Insightful data and strong integration strategies rely on trustworthy technology. The following are must-haves for tech integration.
- Scalability - Growing businesses mean more complex data. Make sure your technology can grow to accommodate expanding data.
- New Data Sources and Throughput - A new integration solution is more than just storage, it will need to be able to connect with both your existing data sources and any new sources that you are currently implementing or will be using in the future. Also, consider if you will be using streaming data sources and if the potential integration solution can handle these.
- Suitability for Your Unique Use Case - What is the right integration strategy for your business? Some organization will need a completely on-premise solution while others will need a full-scale data move to the cloud. Make sure that your solution, data, and resources are aligned during your choice.
- Security and Compliance - Your solution should have a high degree of security and privacy safeguards in place, as well as formatting that complies with your country’s security laws, as there will be large amounts of sensitive data flowing through it.
With these capabilities, your organization can better trust the technology they are using to interconnect their systems and the data being generated based on their strategies.
Abilities Granted by This Level
Forecasting Future Demand: Predicting demand is critical because a business can’t plan capacity without insight into their future demand. If you aren’t predicting either demand or capacity, you should probably start with demand, as you will be able to use this to inform your capacity planning decisions.
Defining Your Capacity: Every business must know its own current capacity to better understand the limitations and potential of the organization. Doing so means that managers can prevent overcommitment to support healthy employee utilization, hit deadlines, and keep clients happy.
Take True Control of Your Capacity
Gaining the ability to forecast capacity in detail and take complete control takes step by step improvements. Find out what you can do to find new levels of success at your business with our new ebook, “Forecasting and Optimizing Capacity: Why the Future of Your Business Depends On It.”