Harnessing the Power of Your Data
Companies and businesses have data all around them, from social media posts, customer reviews, customer orders/returns, customer service, fulfillment/shipping, etc.
Harnessing this information in any organization offers great insights into improvement processes and ability to manage the company's brand.
Focusing on utilizing Big Data and implementing AI (Artificial Intelligence) to analyze and read the data offers the ability to maximize profits and minimize financial risks. For example, AI can identify disruptive business models, increase digital presence, and focus on providing products and services that cater to customer needs. The ability to understand what the data means surrounding these processes are invaluable.
According to Forbes, having AI/ML (machine learning) provides businesses with mass amounts of data that can identify trends, predict future results, and suggest the right action plan (Forbes).
Companies have a tremendous amount of data, but it often lies in multiple places, in silos that need to be integrated and brought together. For instance, a company may have an accounting system, a separate system for inventory, maintenance, marketing, social media and websites. Now imagine getting all of this data manually through each system and in different formats. It could take much time making sense and bringing together insights.
Your object is to make timely business decisions. The only way to look at this information in a timely manner is to connect the systems and pull that information together, build the workflow and apply steps to transform the data that can be used.
The data disclosed in all of this information offers the company valuable insights into business management. Harnessing the information in a timely manner allows the company to make meaningful decisions and react to trends, disruptions and market fluctuations.
Going through millions of lines of data and building insights are arduous and tedious. Putting together insights from a manual process and non-integrated data is overwhelming. A business can start with harnessing Microsoft PowerBI or take a look at Microsoft Azure to manage the data.
So, are you able to read what your data is telling you? Drop us a line, we would like to hear how you are beginning your journey or increasing your endeavors.