The importance of big data to any organization cannot be underestimated. It is a well known military principle that Intelligence leads while Operations drive. In other words without knowing the situation, all action is ineffective.
It is the same in business. Unless you know who is your customer is, what your customer wants, where your customer wants it, when your customer wants it and how your customer wants it, your business strategy is at best a guessing game.
This is where the use of big data can help businesses (both big and small) succeed. With inreasing automation, there is a tremendous amount of information available to the business owner. However without a system to collate, analyze and derive conclusions to drive business decisions, all that information remains as data which is essentially useless.
Business owners will be surprised to learn how seemingly innocuous information can increase revenue and profit margins. One simple example would be looking at cash register receipts to identify buying trends so that you can more effectively cross-sell products and solutions. Knowing buying patterns will also enable the business owner to more accurately predict demand and hence optimize inventory stocking levels to maximize cash flow.
The best part about business analytics is that it does not require expensive hardware or software. All it requires is the correct mindset and the humble excel spreadsheet. To learn how our trainers who helped a Singapore airline save millions in MRO costs email us to enquire about our next big data training workshop ... justin[a]cwfongandassociates.com