{"id":153,"date":"2023-08-30T17:20:52","date_gmt":"2023-08-30T15:20:52","guid":{"rendered":"http:\/\/james@data-cubed.co.uk"},"modified":"2023-08-30T17:20:52","modified_gmt":"2023-08-30T15:20:52","slug":"how-to-turn-your-data-into-a-money-maker-2","status":"publish","type":"post","link":"https:\/\/data-cubed.eu\/blog\/how-to-turn-your-data-into-a-money-maker-2\/","title":{"rendered":"How to turn your data into a money maker 2"},"content":{"rendered":"\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>Guide two: extracting your data<\/p><\/blockquote>\n\n\n\n<p>Before any writer tells a great story, they\u2019ll research a topic inside and out before typing their first word. It\u2019s the same with expert data visualisers. With purpose and care, they\u2019ll extract the right data, in the right way, to make sure they can tell a great story with it.<\/p>\n\n\n\n<p>\nHere\u2019s how you do it.\n<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/cdn-images-1.medium.com\/max\/800\/1*AenJNna8ufix9ON-b9noJA.jpeg\" alt=\"\"\/><\/figure>\n\n\n\n<p><strong>Step 1: define the data you need<\/strong><\/p>\n\n\n\n<p>Don\u2019t extract every field from every database from every business area\u2026or you\u2019ll drown in data.<\/p>\n\n\n\n<p>Only extract:<\/p>\n\n\n\n<ul><li>the fields you require<\/li><li>the frequency of data you need<\/li><\/ul>\n\n\n\n<p>You need the Goldilocks amount of data\u200a\u2014\u200anot too little, otherwise, you won\u2019t be able to answer the business questions. But not too much, otherwise your dashboard will be slow and cumbersome. You need just the right amount of data. You can get this right by only extracting the data you need to answer your specific business use cases. For tips on how to do this, see our first guide.<\/p>\n\n\n\n<p>Remember you can also source data from outside of your business including:<\/p>\n\n\n\n<ul><li>free publicly available data<\/li><li>data from your business partners, distributors or customers<\/li><li>buying in third-party data<\/li><\/ul>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/cdn-images-1.medium.com\/max\/800\/1*gNirH-gkxuWjB99Jexleww.jpeg\" alt=\"\"\/><\/figure>\n\n\n\n<p><strong>Step 2: collate and extract<\/strong><\/p>\n\n\n\n<p>This is a tricky thing to get right. You could be extracting data from numerous internal and external sources of all different types, sizes and complexity. You could have different levels of data quality in terms of completeness of data or consistency of data formats.<\/p>\n\n\n\n<p>Generally, the more sources you\u2019re looking to combine, the more effort and error tend to occur. So the trick is, again, to only focus on fulfilling the business requirements. Try to be lean with the data you extract. The more you prepare and spend time on step 1, the easier the extraction will be.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/cdn-images-1.medium.com\/max\/800\/1*VjSB70ybi0qvH-qYxuGhnQ.jpeg\" alt=\"\"\/><\/figure>\n\n\n\n<p><strong>Step 3: give your data a health check<\/strong><\/p>\n\n\n\n<p>Without a doubt, once your data sets are together, you\u2019ll find errors. So what you\u2019ll need is a repeatable process to cleanse, enrich and combine data sources together. When we work with client data, we give it a full health-check, to make sure we\u2019ve received what we thought we would. We\u2019ll inspect fields, formats and completeness. We\u2019ll then merge data sources, reformat fields and match data so it\u2019s accurate and relevant.<\/p>\n\n\n\n<p>We work in a structured way, taking our clients\u2019 data through six assessments. We then calculate the health of their data and provide a KPI to show areas in need of focus.<\/p>\n\n\n\n<ol><li>Data Completeness: We check data is complete and there are minimal missing cells<\/li><li>Data Uniqueness: We make sure there aren\u2019t duplicates<\/li><li>Data Timeliness: We check data is not out-of-date<\/li><li>Data Validity: We confirm data is in the correct format and within the expected range<\/li><li>Data Accuracy: We check data is representative of reality<\/li><li>Data Consistency: We ensure fields are the same in different databases<\/li><\/ol>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p><strong>Worried you have data all over the place?<\/strong><\/p>\n\n\n\n<p>We\u2019re used to working with data from multiple databases and applications. We wrangle with all file types and specialise in integrating data sources so insight can be drawn from a single place. Here\u2019s a list of what we commonly work with:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/cdn-images-1.medium.com\/max\/1200\/1*LnGRwTt30moNDSnJG_Gpkg.png\" alt=\"\"\/><\/figure><\/div>\n\n\n\n<p><strong>Next time\u2026we\u2019ll share our guide for analysing data<\/strong><\/p>\n\n\n\n<p>Now you have your data, what do you do with it? Depending on your goals, you\u2019ll want to analyse your data in different ways. We\u2019ll share tips on how you can do this in our next guide.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Guide two: extracting your data Before any writer tells a great story, they\u2019ll research a topic inside and out before typing their first word. It\u2019s the same with expert data visualisers. With purpose and care, they\u2019ll extract the right data, in the right way, to make sure they can tell a great story with it. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[11],"tags":[21,39,61],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to turn your data into a money maker - Extracting your Data<\/title>\n<meta name=\"description\" content=\"A three-step guide on how to turn your data into a money maker, guide two: extracting your data.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/data-cubed.eu\/blog\/how-to-turn-your-data-into-a-money-maker-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to turn your data into a money maker - 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