In this article, FLOvate Business Analyst Stuart Rudland takes a look at three forces shaping the business software world – and what organisations can be doing right now to harness the benefits.
We are all data generators. Each time we rev up our Fitbits or use the GPS on our mobiles, we create a data trail which retailers may – or may not – be harnessing to gain or increase your custom.
“Big Data” becomes exciting when all of that information is joined up, analysed and made accessible in a meaningful way – which is why we’re able to check the weather forecast in far-flung destinations and filter comparison sites that quickly filter thousands of reviews and recommendations.
For businesses, the ability to manage (and increase) our own Big Data quota can provide many benefits. It can help us spot patterns, uncover new trends and make better decisions. But how can businesses get started with Big Data?
In this blog, we discuss how organisations can utilise Business Process Management (BPM) solutions and Business Intelligence to make sense of Big Data.
Establish what data you have right now
How much “Big Data” do you have in your business? Think beyond the data you hold in “rows and columns” to business-wide data assets. Email marketing platforms, Google Analytics and social media accounts are just a few examples.
What data you could connect with externally?
Could you bring your suppliers online and enable them to interact with your processes? For example, could you request for recruitment agencies to enter candidates’ details into a portal with a direct link to your central systems? This will quickly increase the data you have and allow you to interrogate it in new ways. Business Process Management (BPM) systems make this a possibility through intuitive self-service platforms accessible by a secure login.
How can you access more data internally?
You have more data than you think! Information that exists in separate systems and spreadsheets can be connected together using a Business Process Management platform. This data can be subject to workflow which not only ensures quality but provides a single view of your data which becomes very powerful when analytics capabilities are added.
Mine that data!
It’s all very well having Big Data but it’s what you do with it that counts. LEAP’s Dashboard analytics and Business Intelligence (BI) tools take reporting to the next level, making it much easier to see the bigger picture as well as drill down into trends and root causes.
Got more Big Data than you can handle? Consider outsourcing.
As the amount of data you have grows, you might want to consider solutions such as Hadoop which enable you to store large volumes of data cost-effectively in the Cloud.