From 2015 to 2017 alone, the number of companies that have begun integrating big data analytics strategies into their business practices has risen from 17% to 53%.
This is not surprising—the competitive edge enjoyed by these companies due to their analytics programs is becoming more visible. Data has the potential to reveal powerful connections that can cut costs and increase efficiency. With 90% of the world’s data created in the past 2 years alone and the rate of data generation only accelerating, the future implications for analytics are huge– from edge computing to natural language processing capabilities and everything in between.
Companies feel the need to take advantage of the massive amount of data available, but how? It may seem overwhelming, but analyzing and visualizing your data is imperative. From reporting to custom analytics platforms, there is a data solution fit for every organization.
Inventory reporting can uncover trends and help to guide buyers in maintaining, increasing, or decreasing inventory based on consumer trends. Analyzing data can help pinpoint where operational problems lie. Looking to more accurately forecast a company’s fiscal future or drill down a best practice? Analytics can help with that. Looking to boost your organization’s sales numbers by more accurately tailoring the sales approach to each customer? Analyzing the inrush of newly generated data in real time can help. There are many types of analytics that can reveal important connections in your organization.
Beyond reporting, cloud-based solutions can scale to your organization’s individual need. The right platform can offer both governance and agility. There are many options for your organization to take advantage of, the important thing is to act.
If your organization has yet to put to use the data it has amassed, now is the time to do so.
Look out for our next blog for more info on VanData’s own story and services. In the meantime, shoot us a message with any questions or thoughts — we’d love to hear from you.