You’ve probably heard or read the term “big data” at least once in the past few years. Maybe your response was a sarcastic “big deal!” under the assumption that this high-tech concept applies only to large corporations. But this isn’t necessarily true. With so much software so widely available, companies of all sizes may be able to devise and implement big data strategies all their own.
What is it?
The term “big data” generally refers to any large set of electronic information that, with the right hardware and software, can be analyzed to identify trends, patterns and relationships.
Most notably for businesses, it can help you better understand and predict client and employee behavior — specifically buying trends and what products or services customers might be looking for. Think of big data as the product recommendation function on Amazon. When buying anything via the site or app, customers are provided a list of other items they also may be interested in. These recommendations are generated through a patented software process that makes an educated guess, based on historical data, on consumer preferences. These same software tools can make predictions about aspects of your business, too — from sales to marketing return on investment, to employee retention and performance.
I Have Data. But How do I See it?
This is where Business Intelligence comes in. BI transforms your most complex data into actionable insights to help you find answers. That way executives, managers, and even employees have the real time information they need to make decisions. At Anderson ZurMuehlen Technology Services, we specialize in data. Our BI platform is built specifically for professional service firms featuring personalized dashboards that provide answers on demand; from partners monitoring staff performance to consultants working to meet their production budgets.
Big Data and BI can be highly complementary. BI’s dashboard visualization and reporting can be crucial to making Big Data actionable.
Planning and Optimization
Big data isn’t exactly new anymore. But it continues to evolve with the widespread use of cloud computing, which allows companies of any size to securely store and analyze massive amounts of data online. If you don’t know where to start, Anderson ZurMuehlen Technology Services can offer assistance in Business Intelligence to transform your raw data into a clear understanding of what’s really going on in your business. For more information shoot us an email at firstname.lastname@example.org!