You are a business leader and want to use business intelligence to predict changes in the market to adapt and capitalize on them? Our information portal answers your pressing questions and helps with innovative cloud solutions.
BI: more than data
Is data the currency of the 21st century? No, but it is the material that the currency is made of. With information being the true currency, you need to be able to turn data (and Big Data) into knowledge.
Cloud solutions are the best way to collect, categorize, sort and interpret data and therefore influence future business decisions, make predictions on customer behavior and furthermore make fast changes reality in your company.
With the rise of obtainable data from customers, business analytics and market developments, Big Data plays a bigger role in everyday management.
Analyze: from Big Data to Smart Data
However, the bigger the data, the harder the condensation into Smart Data, meaning useful data sets that will help your company to be fast, flexible and innovative according to the demands of customers, business partners and the market. You don’t need to look for the needle in the hay if your software does the searching for you.
“To find the nuggets of wisdom held therein, they require tools such as predictive analytics to mine them”, Ben Kerschberg writes about Big Data for Forbes.com.
Cloud based tools can weather the rising amount of data, the power needed to process it and the storage space to keep it save and available at any time, any place.
Visualize: make intelligent predictions
However, cloud business software does not only provide the analysis of Big Data but also visualizes it, reducing time and stress to make sense of abstract figures and numbers. But according to a Forbes article from 2014, most companies still don’t make enough use of visualized business data. “Almost half the companies (45%) fill reporting needs through manual extraction and data cleansing tools, feeding the information to spreadsheets or PDF formats.
Realize: distribute knowledge to the right people
Knowing and using business insights are two different things and quite often, companies already have the knowledge but lack the network to make use of it. The cloud offers the best reporting software to enable mobile workflows and distribute information to the right channels. Who needs customer data, who can work with market predictions and who will transform data on the company’s logistics?
57% of companies expect that in three years (by the end of 2017) cloud will have an impact on increased agility and responsiveness to customers. What else will evolve due to the cloud? Read more: The cloud’s enduring promise.
If you want to be agile and flexible in the market, you need to know what is going to happen next and you need to act on it. With the right software, you don’t need to follow trends because everyone does – you can make your own trends.
In the next blogpost we will explore how Cloud will help business leaders rapidly and successfully realize future innovations.