In today’s world, competitive advantage for organisations is obtained by their ability to successfully capture, manage, and analyse massive volumes of data and turning it into valuable insights. However, nearly 55% of big data projects fail due to the lack of cooperation among departments, poor planning and lack of staff experienced in big data. As more and more business decisions are backed by data, it has changed the way organisations operate today. In addition to streamlining business operations, here are some advantages of incorporating big data into operations today.
- Streamlining Business Processes
Big data streamlines business processes through modern advancements and integration of business intelligence tools. Business Intelligence (BI) tools helps to collect customer data and present it in tables and charts. This increases productivity while reducing operational costs.
- Predictive Analysis
With a good amount of historical data, an organisation is able to predict and forecast trends ahead of time. This gives the organisation a competitive advantage over its competitors as they are able to anticipate customer’s needs and wants and meet them ahead of time.
- Enhancing Market Research
Big data enhances market research by increasing the amount of data available. With the increased methods of data collection and the type of data available, this allows a more detailed and in depth research to be done to better enhance products and services. Customer spending patterns and history that previously took a longer time to collect, is now easily available thanks to big data.
- Data Access Centralization
A centralized database is one where the information is stored and maintained in one location, but accessible from many points. This allows faster searches and a simplified IT infrastructure in place. Big data helps centralised data access through big data tools, and increases the visibility of the data available. Data can now be easily accessed by anyone at any time.
Streamlining Businesses Through Big Data Analytics is a 2-day course held from 2 – 3 July 2018 (Kuala Lumpur) to learn the best practices on how to utilise Business Intelligence (BI) for businesses. The course is crafted for BI consultants, IT managers or anyone who has an interest in BI. The course also includes various assignments and group discussions to better understand how to create and utilise BI frameworks, and develop solutions for businesses. For more information, please visit us at http://www.opuskinetic.com/training or contact us at email@example.com.
Are you wondering other ways to streamline business operations while managing risks as well? Check out Risk Management by Systems Thinking.
Opus Kinetic believes that people are why organisations are successful, and giving people the knowledge to perform well at their job is integral for success. We pride ourselves as the premier provider of knowledge, offering acclaimed in-house trainings, and many others professional training courses spanning from various industries. Our training courses are well researched and updated with the latest industry trends. For more information on our professional training programs, visit us at http://www.opuskinetic.com/training.