Many organizations do not use the data they have access to. While their data and knowledge is plentiful, and a strong foundation for better decision-making exists, they simply don’t act on it.
A poll by CMS specialists Pentia at a seminar with TARGIT about Big Data indicates this.
Although the poll shows that two-third of organizations use analytical software to a certain extent, half believe it is challenging to utilize the knowledge they derive. In fact, the organizations desire to change their mindset to think, and act more digitally. And in extension, also get the most out of the information they are being fed on a daily basis.
But as it turns out, a third of the organizations taking part in the poll used minimal information received from their existing digital platforms for business development. Pentia’s communication consultant Ms. Isa Lindbæk informed me of this relative inefficiency.
Consolidate your data
So, with this on my mind I spoke with our own CTO; Dr. Morten Middelfart. His philosophy is that organizations need to consolidate the data they have access to. When the organizations use a Business Intelligence system that collects data from all their data sources, they can put notification agents on their KPIs that will alert them in case of deviations. Now, the organizations are able to free up time and resources for focusing on Big Data; the data that lies outside the organizations current reach and control.
However, everyone needs to apply different techniques to use Big Data commercially. It’s practically impossible to get all of your data under control, and analyzed from A to Z. One needs to define and focus on the matters that are important here and now, and take snapshots of the current market situation.
Morten Middelfart recommends attaining better interaction between man and machine. He calls it Human-Computer Synergy. And he believes that if you really want to use your company data for something concrete, you need to trust your Business Intelligence system. Its purpose is to alert you when threats or opportunities arise. Once a solid Business Intelligence solution has been implemented, more confident actions will derive from it.
Yet, actions also take a bit of courage. But with the right BI & Analytics system, I know it is possible to find that courage.
Curious to know more?
Check out our product pages