BI & Analytics Services
Everyone is talking about ‘big data’ and how tech giants are going to use it to change the world. But what does it mean for the rest of the companies and organisations who do not have ninja-coders sitting on beanbags developing artificial intelligence apps during their company-subsidised gourmet lunch breaks?
The Economist declared that the world’s most valuable resource is no longer oil, but data. And with some saying that 90% of the world’s data was created in the past few years alone but that less than 1% of it is actually being used or analysed, it would appear that people are only just beginning to appreciate its worth.
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For most organisations, the efficient management of data has the potential to reduce costs, control risks and improve whole life performance. However, in many cases, the challenge is in identifying what data to collect and how to collect it.
Almost all organisations have data which can be exploited to deliver valuable information to aid decision-making. However, the decision about what data to collect is often made without any reference to the strategic needs of the organisation. Many organisations tend to collect data which is easy to capture rather than that which is valuable to have.
Big Data-A Competitive Advantage for Businesses
The use of Big Data is becoming common these days by the companies to outperform their peers. In most industries, existing competitors and new entrants alike will use the strategies resulting from the analyzed data to compete, innovate and capture value.
Big Data helps the organizations to create new growth opportunities and entirely new categories of companies that can combine and analyze industry data. These companies have ample information about the products and services, buyers and suppliers, consumer preferences that can be captured and analyzed.
Sellcraft will help you take that competitive advantage in the market, contact us for various Big Data Solutions