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Forbes
01-07-2025
- Business
- Forbes
Why Most Data Strategies Are Broken (And How To Fix Yours)
Imre Szenttornyay, CEO and Founder of Cielo helps franchise owners grow and scale their operations profitably using AI. In today's hyperconnected world, businesses are awash in data—yet most remain starved for insight. From cloud platforms and distributed teams to AI pilots and dashboards, we have more tools than ever. But if you've ever wondered why none of it seems to add up to smarter decisions, you're not alone. As someone who's spent the last two decades building tech platforms and AI systems for some of the world's most operationally complex industries, I've seen firsthand what happens when organizations treat data like a checklist item rather than a core capability. This topic isn't just professional, it's personal. I've worked alongside teams who are drowning in dashboards and still can't answer the simplest operational questions. That's why I'm passionate about helping leaders fix their data strategies before the flood of information becomes a liability. The Illusion Of A Data Strategy According to IBM, 68% of enterprise data is not analyzed, leading to missed insights and opportunities. Companies collect mountains of information, but too often lack a strategic framework to make it useful, or even secure. They assume that having cloud storage, a few BI dashboards or an AI pilot means they've 'checked the box.' But these are just tools. A true data strategy connects back to your business objectives, defines ownership, ensures compliance and translates raw information into daily decisions. The Five Pitfalls Of Broken Data Strategies 1. Lack Of Ownership: Without a single point of accountability, data hygiene deteriorates. I've seen departments in the same company maintain duplicate data sets—none of which anyone trusts. Clarity in ownership means quality and actionability. 2. Siloed Systems: It's common to find Salesforce running next to Excel sheets, IoT dashboards and camera footage—none of it connected. This not only slows down analysis but opens up security blind spots. Unified data architecture is no longer optional. 3. Neglected Governance: By the end of 2025, 75% of the global population will be covered under modern data privacy regulations. This underscores the need for better data intelligence frameworks. Yet many businesses still treat governance as a compliance formality, rather than a strategic asset. 4. Poor Cybersecurity Hygiene: With SaaS sprawl and remote work, vulnerabilities are everywhere. Security must be embedded at every layer—data in motion, at rest and in use. 5. No Business Context: Data is just noise unless it's structured around real-world goals. I've seen AI models recommend 'ideal staffing' for a retail store without realizing the context was a local holiday with half the team on PTO. Context is everything. What A Real Data Strategy Looks Like The fix isn't more dashboards, it's more intelligence. A strong strategy includes: • Unified Architecture: Break silos with centralized platforms that support real-time decision making and long-term insights. • Role-Based Governance: Set clear data ownership, automate compliance checks and maintain audit trails. • Embedded Cybersecurity: Incorporate encryption, threat detection and access management from day one. • Operational Context: Label and structure data around use cases—not just storage. • AI With Guardrails: Contextual AI should augment human decision making, not override it. I call this approach contextual intelligence. It focuses on giving your data meaning and your teams clarity. The Business Case Companies that get this right don't just move faster—they outperform. As cited by CTO Magazine, according to McKinsey, data-mature organizations are: • Twenty-three times more likely to acquire customers. • Six times more likely to retain them. • Nineteen times more profitable overall. Beyond performance, there's trust—among customers, teams and partners. And in today's market, trust is currency. Getting The Most Out Of AI (What I've Learned) Whether it's hospitality, fitness, QSR or healthcare, I've seen a common pattern: AI initiatives often stall because they're built on broken data foundations. Here are five best practices that continue to deliver results: • Start with business problems, not tech dreams. Ask, 'What decision needs to be faster, smarter or safer?' Build backward from that. • Pilot in one location, but design for scale. Start small, measure real outcomes and iterate quickly. • Make security part of day one. Most breaches happen in overlooked areas: unsecured devices, outdated permissions, forgotten user accounts, etc. • Train AI on your operations, not someone else's. Off-the-shelf models are a good start, but in my experience, context-specific data will always perform better. • Embed AI into workflows, not just dashboards. Real ROI comes when insights are actionable—right where the work happens. What I've Learned At my company, we help clients move beyond data collection to real-time, contextual decision making. But the lesson I want to share here is broader: Strategy comes first, then tools second. Your data strategy is your nervous system. Make sure it's healthy. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Geeky Gadgets
15-06-2025
- Business
- Geeky Gadgets
Create Power BI Interactive Dashboards Like a Pro in 10 Minutes : No Coding Required
What if you could transform raw data into a sleek, interactive dashboard in just 10 minutes? It might sound ambitious, but with the right tools and guidance, it's entirely possible. Imagine walking into a meeting with a visually compelling report that not only grabs attention but also delivers actionable insights—without spending hours wrestling with spreadsheets or coding. Power BI, a leading business intelligence tool, makes this a reality by offering a user-friendly platform to create professional dashboards with minimal effort. Whether you're a data enthusiast or a complete beginner, this walkthrough will show you how to turn your data into a powerful storytelling tool in record time. In the video below Mo Chen will teach you how to connect your data, clean and prepare it, and design visualizations that truly resonate with your audience. You'll also learn how to add interactive features, like slicers and filters, that make your dashboard more dynamic and engaging. By the end of this guide, you'll not only have a functional Power BI dashboard but also the confidence to replicate the process for future projects. Mo Chen, an expert in data visualization, has broken down the process into clear, actionable steps that anyone can follow. Let's explore how to make the most of Power BI's capabilities and create something that informs and inspires. Build a Power BI Dashboard 1: Import and Connect Your Data The process begins with connecting Power BI to your data source. Power BI supports a wide range of data sources, including: Excel spreadsheets SQL databases Cloud-based platforms like Azure, Google Analytics, or Salesforce To start, open Power BI Desktop and select the 'Get Data' option. Choose your desired data source and follow the prompts to establish the connection. Once connected, review the imported data to ensure all fields and tables are loaded correctly. This step is critical for identifying any missing or incomplete data that could affect your dashboard later. Taking the time to verify your data structure at this stage ensures a smoother workflow as you proceed. 2: Clean and Prepare Your Data Clean data is the backbone of any reliable dashboard. Power BI's Power Query Editor provides robust tools to help you prepare your data effectively. Common data preparation tasks include: Removing duplicate entries Filling in missing values Standardizing inconsistent formats, such as dates or currencies For example, if your dataset contains dates in multiple formats, you can use the 'Transform' tab to standardize them into a single format. Similarly, you can remove unnecessary columns or rows that do not contribute to your analysis. By making sure your data is clean and well-structured, you set the stage for accurate and meaningful visualizations. How to Build a Power BI Dashboard Watch this video on YouTube. Advance your skills in Power BI dashboard by reading more of our detailed content. 3: Create Visualizations With your data prepared, the next step is to create visualizations that effectively communicate key insights. Power BI offers a wide variety of visualization options, such as: Bar charts: Ideal for comparing categories, such as sales by region Ideal for comparing categories, such as sales by region Line graphs: Useful for tracking trends over time Useful for tracking trends over time Pie charts: Best for showing proportions or percentages Best for showing proportions or percentages Tables: Provide detailed views of raw data To create a visualization, simply drag and drop fields from the 'Fields' pane onto the report canvas. Use the 'Visualizations' pane to customize the appearance of each chart. For instance, you might use a bar chart to compare monthly sales across regions or a line graph to illustrate revenue trends over time. Customizing your visualizations ensures they are both informative and visually appealing. 4: Customize and Organize Your Dashboard Customizing your dashboard enhances its usability and ensures it aligns with the needs of your audience. Logical organization is key—place the most important metrics in prominent positions and group related visuals together. Power BI provides several formatting options to help you refine your dashboard, including: Adjusting colors and fonts to create a consistent theme Resizing and aligning visuals for a clean, professional layout Adding gridlines or borders to improve organization For example, applying a consistent color scheme across all visuals can make your dashboard look polished and cohesive. Additionally, consider labeling your visuals clearly to ensure users can quickly understand the data being presented. 5: Add Interactivity with Filters and Slicers Interactivity is one of the most powerful features of Power BI dashboards, allowing users to explore data dynamically. Adding filters and slicers enables users to focus on specific aspects of the data. Key interactive elements include: Filters: Apply these to individual visuals or the entire report to narrow down data based on specific criteria. Apply these to individual visuals or the entire report to narrow down data based on specific criteria. Slicers: Allow users to drill into specific categories, such as product lines, regions, or time periods. For instance, adding a slicer for 'Year' enables users to analyze trends for a specific time frame, while a filter for 'Region' allows them to focus on performance in a particular area. These interactive features make your dashboard more engaging and user-friendly, empowering stakeholders to explore the data in ways that are most relevant to them. 6: Publish and Share Your Dashboard Once your dashboard is complete, the final step is to publish and share it with your audience. In Power BI Desktop, click the 'Publish' button to upload your report to the Power BI Service. From there, you can: Generate a shareable link to distribute the dashboard to your team Embed the dashboard in platforms like Microsoft Teams or SharePoint for seamless collaboration Set permissions to control who can view or edit the dashboard Publishing your dashboard ensures that your insights are accessible to the right stakeholders, allowing data-driven decision-making across your organization. Additionally, the Power BI Service allows you to schedule data refreshes, making sure your dashboard remains up-to-date with the latest information. Building a Power BI dashboard in 10 minutes is a realistic goal when you follow a clear, step-by-step process. By connecting your data, preparing it, creating visualizations, and adding interactivity, you can design a dashboard that effectively communicates insights. Publishing and sharing your work ensures it reaches the right audience, empowering your team to make informed decisions. Whether you're analyzing sales performance, tracking operational metrics, or exploring customer behavior, Power BI provides the tools you need to turn data into actionable insights quickly and efficiently. Media Credit: Mo Chen Filed Under: Guides Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
Khaleej Times
26-05-2025
- Business
- Khaleej Times
Navigating the digital tax era: A CFO's roadmap to indirect tax assurance
With more countries enforcing mandates for e-invoicing, real-time VAT reporting, and digital audit trails, CFOs are navigating a complex and fast-changing environment Tax is no longer a reactive task, it has evolved into a real-time, strategic function fueled by accurate and timely data. As regulations continue to shift, technology is taking center stage in how modern tax is managed. Indirect taxation is undergoing a significant shift. As economies become increasingly digital and governments move toward real-time regulatory models, indirect tax has moved from the back office to the forefront of boardroom discussions. The concept of cognitive taxation is gaining ground, leveraging AI to identify patterns, detect anomalies, and forecast tax risks in real time. With e-invoicing becoming the standard, tax data is no longer just a compliance necessity; it's now a valuable asset for business intelligence. Yet, despite these advancements, CFOs across the globe face a common challenge: how to stay compliant, control operational costs, and keep up with evolving mandates, while still ensuring financial stability. Indirect Taxation and the burden of digital tax: Navigating the new normal With more countries enforcing mandates for e-invoicing, real-time VAT reporting, and digital audit trails, CFOs are navigating a complex and fast-changing environment. These developments have drastically increased the volume, speed, and scrutiny of tax data, raising the stakes for finance teams. The CFO's Dilemma: Finance leaders must now answer: 1. Am I reporting sales compliantly across regions? 2. Am I claiming the right input tax credits, without overpayment? 3. Can I predict my tax risks and liabilities with confidence? Tax Authorities Share Similar Concerns: They ask: 1. Are taxpayers reporting sales accurately? 2. Are they availing credits as per law? 3. Can we forecast revenue gaps or detect fraud in real-time? This mutual concern for data accuracy, visibility, and predictability underscores the need for more intelligent tax systems. PEPPOL and UAE: A Case study in digital transformation The UAE is already moving forward. Its adoption of e-invoicing and commitment to the PEPPOL framework reflect a broader vision for a connected, transparent, and intelligent tax ecosystem. With the deployment of PEPPOL Access Points and SMP infrastructure, UAE businesses are expected to do more than just check compliance boxes, they need to embed digital compliance deeply into their ERP and financial systems. This marks a significant shift in how tax is viewed - not as an obligation, but as a transformational force. Platforms like Cygnet Tax are enabling businesses to streamline VAT filings, automate validations, digitize invoice processing, and stay prepared for global mandates - all through a single, unified platform. Why Manual is No Longer Manageable The cost of staying manual is steep. Businesses face: - Fragmented ERPs and inconsistent data - High operational overheads - Delayed reconciliations and errors - Compliance penalties due to missed or inaccurate filings With compliance mandates evolving rapidly, spreadsheets and siloed systems simply won't scale. Technology as a Strategic Enabler Digitisation today isn't just about compliance, it's about competitiveness. Disjointed systems lead to delays, errors, and compliance risks in tax operations. A unified tax platform centralizes processes and data, enabling faster, more reliable compliance and growth. Technologies like AI, RPA, and real-time APIs offer: - Faster, error-free reporting - Invoice fraud detection and prevention - Predictive analytics for better tax positioning - Centralised compliance dashboards across jurisdictions Toward a smarter, scalable tax strategy At we advocate a unified platform approach, one that doesn't just handle invoicing but integrates VAT processes, digital signing, compliance monitoring, audit trails, and global regulatory updates in one ecosystem. A well-implemented platform helps CFOs not only cut costs, but gain strategic insights into cash flow, tax leakage, and policy impact. With cognitive systems and PEPPOL Powered automation handling routine tax tasks, tax professionals can focus on advising business growth, managing risk, and ensuring ESG accountability. Partnering with right solution providers will be critical to be ready for such a massive change in the invoicing landscape. Here is a guide that can help you get ready with e-Invoicing implementation. What the future holds Expect tighter enforcement, real-time validations, and increased cross-border alignment. Countries will converge on standards like PEPPOL and BEPS 2.0. CFOs who act now will gain long-term agility. Global tax will only grow more digital, and companies equipped with intelligent platforms will lead this change - not follow it. Conclusion: From risk to ROI The shift to digital indirect tax is not just regulatory - it's strategic. It offers a unique opportunity for CFOs to drive transformation on a scale. The question is no longer "Is your business compliant?" The real question is "Is your business intelligent about compliance?" As we step into a future defined by data, automation, and trust, finance leaders must begin to see tax not as a burden, but as a catalyst for business advantage. Niraj Hutheesing is the founder and managing director of a global leader in tax technology and compliance automation. With over two decades of experience at the intersection of finance, technology, and regulation, Niraj is a recognised thought leader shaping the future of tax intelligence.
Yahoo
22-05-2025
- Business
- Yahoo
Why Is Domo (DOMO) Stock Rocketing Higher Today
Shares of data visualization and business intelligence company Domo (NASDAQ:DOMO) jumped 31.1% in the afternoon session after the company reported an impressive "beat and raise" quarter. First quarter 2025 results blew past analysts' EBITDA and earnings estimates while sales were in line. However, full year sales outlook was slightly lifted. Notably, operating margin turned positive, and the company maintained positive free cash flows during the quarter. Investors may also take note of the 24% rise in remaining performance obligations, a sign that demand is not just holding up but strengthening. Zooming out, we think this quarter featured some important positives. Is now the time to buy Domo? Access our full analysis report here, it's free. Domo's shares are very volatile and have had 26 moves greater than 5% over the last year. But moves this big are rare even for Domo and indicate this news significantly impacted the market's perception of the business. The previous big move we wrote about was 28 days ago when the stock gained 5.8% on the news that stocks extended their rebound, led by strong gains in the technology sector, as renewed optimism surrounding U.S.–China trade negotiations lifted investor sentiment. Contributing to the bullish tone was a standout earnings report from enterprise software leader ServiceNow, which topped Wall Street's expectations on RPO, profit and earnings. More importantly, the company's remaining performance obligations (RPO), a key forward-looking metric for future revenue, gave investors confidence that enterprise customers were not pulling back spending amidst uncertain macro. This optimism was further reinforced by solid results from Texas Instruments and Lam Research. Their performance was especially encouraging for semiconductor stocks, which had been under pressure due to their exposure to global trade tensions. These earnings results suggested that, despite macroeconomic uncertainties, demand in key tech verticals remained resilient. Domo is up 57.8% since the beginning of the year, and at $11.19 per share, has set a new 52-week high. Investors who bought $1,000 worth of Domo's shares 5 years ago would now be looking at an investment worth $447.22. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
