Think smart forward with data management and analytics
Big data analytics. What is it and why it matters?
History and evolution of big data analytics
Even in the 1950s, decades before anyone uttered the term “big data,” businesses were using basic analytics (essentially numbers in a spreadsheet that were manually examined) to uncover insights and trends.
The new benefits that big data analytics brings to the table, however, are speed and efficiency. Whereas a few years ago a business would have gathered information, run analytics and unearthed information that could be used for future decisions, today that business can identify insights for immediate decisions. The ability to work faster – and stay agile – gives organizations a competitive edge they didn’t have before.
Why is big data analytics important?
Big data analytics helps organizations harness their data and use it to identify new opportunities. That, in turn, leads to smarter business moves, more efficient operations, higher profits and happier customers. Data management and analytics bring tremendous value to any company, but the three most important ones are:
1. Cost reduction
Big data technologies and cloud-based analytics bring significant cost advantages when it comes to storing large amounts of data – plus they can identify more efficient ways of doing business.
2. Decision making
With the speed of analytics, combined with the ability to analyze new sources of data, businesses are able to analyze information immediately – and make decisions based on what they’ve learned.
3. Innovation
With the ability to gauge customer needs through analytics comes the power to give customers what they want. Big data analytics enables companies in any sector to create new product and services.
We provide support every step of the way
Cloudme Business Intelligence has the depth and breadth of experience in data management, data governance, data quality and best practices to help you create a fully integrated program – one that can help you drive transformation, innovation and competitive advantage. From strategy and implementation to rollout and governance, we’ll support you every step of the way. We partner with you to:
Build a data dictionary
Create data workflows
Long-term data management
Find out more about how your business can benefit from better data management and governance.
Contact us today to help your organization identify the strategic challenges that will make your business and your products more resilient. And help you optimize your services to make them more attractive to your customers.