Driving business success with data-driven strategies

The ability to make informed decisions is crucial for success as today’s business landscape rapidly evolves. Data plays an invaluable role in driving business transformation, and leveraging data analytics, AI and strategic technology partnerships can unlock new potential and enhance operational efficiency.

In a recent webinar, industry leaders Cindy Bratel, Dave DuVarney and Mike Hollifield from Baker Tilly and Andrew Condos from IFS uncovered how organizations can harness data to optimize processes, boost decision-making and gain a competitive edge in an increasingly data-centric world.

Bratel: Given so many organizations still have a way to go in their data and analytics journey, where would you suggest they start?

DuVarney: Everyday, organizations are trying to use their data to make the best decisions possible, which means having the right data programs in place is the difference between success and failure. For organizations still progressing in their data and analytics journey, the key to getting started is establishing a solid data strategy and governance framework . A focused business is an efficient one, and companies who create a shared language and understanding around their data will know what the key indicators are, what they mean and why they are important to business.

There are five key steps to build a stronger data strategy. A successful data strategy begins with discovery and prioritization. Catalog existing reports and data sources, focusing on key analytical themes rather than just migrating old reports. Prioritize themes like sales, revenue and profitability to align with business goals. Develop a model to measure and analyze these themes effectively. Assemble the right team with defined roles to support the program, ensuring continuous value addition. Implement a clear road map to guide the organization through the data strategy, from discovery to execution and beyond.

Data governance is also essential, with clear ownership and management of data quality, compliance and architecture. Organizations should adopt a "data first" approach, especially when migrating systems, which involves setting a clear vision, performing thorough data extraction and transformation and ensuring clean, deduplicated data is moved into new systems. Ultimately, building a robust data foundation early on will support analytics and drive long-term value.

Bratel: What challenges do clients typically face with data migration during an IFS implementation, and how are these challenges effectively overcome?

Hollifield: During IFS implementation services, clients often face several data migration challenges, including complex data structures, lengthy execution times and difficulties with document management.

1. Complex data structures: IFS features intricate parent-child relationships and detailed data models, making it difficult to understand and migrate data correctly. Baker Tilly addresses this by using a Baker Tilly built accelerator that generates solution-driven migration routines and a template document. This template breaks down data complexity by defining table structures, showing sample data and providing extraction support to help teams efficiently transition legacy data into IFS.
2. Execution time: Data migration involves importing large volumes of data, which can be time-consuming, especially if done manually. Baker Tilly's rapid execution engine significantly reduces this time by enabling bulk job execution, automating job order through ordinal flags, centralizing error analysis and supporting parallel processing for faster cutovers.
3. Document management: Migrating documents systematically into IFS is often overlooked but critical for accessing information quickly and is a critical part of a clients’ business. Baker Tilly has developed a document management import tool that uses IFS's official API to handle all file types, connect documents to business objects and maintain a robust audit log. The tool is repository-agnostic and allows bulk document uploads, ensuring the right documents are available at the right time.

Overall, these Baker Tilly developed solutions help streamline data migration, enhance data quality and reduce errors, contributing to a smoother IFS implementation for our clients.

Bratel: How is IFS enabling AI for their customers, and what role does data play in the advancement of AI technologies today?

Condos: IFS has taken a thoughtful and strategic approach to embedding artificial intelligence (AI) within its platform to drive real value for customers. Instead of expecting clients to build AI models from scratch, IFS provides a risk-free, integrated solution that leverages predictive analytics within the IFS application. The AI capabilities in IFS range from large language models like the IFS.ai CoPilot, to more traditional AI techniques such as anomaly detection, supervised learning, deep learning, image analytics and time series forecasting. These embedded models continuously train customer data and present insights directly within the interface, enhancing productivity without requiring users to understand the underlying algorithms.

Data plays an integral role in building predictive models with quality and context being key to delivering meaningful AI–driven insights. Whether forecasting inventory needs, predicting sales opportunities or optimizing maintenance schedules, good, clean and relevant data forms the foundation. A standout feature is the ability to embed PowerBI reports directly within IFS, combining IFS data with external priorities. Ultimately, leveraging high-quality data supports better decision making across the organization.

By harnessing the power of data-driven strategies, organizations can unlock new opportunities, enhance decision-making and stay ahead in a competitive landscape. As highlighted during this session, building a robust data strategy, overcoming data migration challenges and leveraging AI effectively are critical steps in achieving long-term success. With the right approach to data analytics and technology partnerships, businesses can transform insights into impactful actions, driving efficiency and innovation at every level. Learn how your business can leverage their data in IFS Cloud with Baker Tilly today. Baker Tilly’s Data Solutions team assists clients in unlocking new value from their data, using machine learning, data visualization and developing new data processes that organizations rely on to drive their business forward.