Big Data

Adding Business Value with Big Data

NOV 05, 2014

Chances are good you’ve heard the term “Big Data” before. It’s a relatively recent initiative that is proving itself to be the future of IT and business. Here at Trace3, however, we approach Big Data a little differently- we see it as a valuable business-enabling tool. When leveraged correctly, this data empowers companies to make business-focused decisions and allows them to be agile based on organizational trends. It gives companies increased insight into the departments that comprise their business, and it adds critical information and color to partner and customer support programs. While the infrastructure itself is typically managed by IT, the reach of Big Data spans so much farther. Take a look at these four ways Big Data can add value to any organization.

Supporting business decisions with automation

Analytics are critical to running making good decisions and minimizing risks when it comes to a company. One of the huge benefits of Big Data is the automation of those analytics. Taking large quantities of information and then processing it to give the leaders of business entities a more robust image of what’s going on in their department is an invaluable offering that will truly innovate the organization.

Transparency

What other technology has given business stakeholders the ability to view and analyze data in such a timely manner? Implementing a Big Data initiative makes your data more accessible across all departments and all levels in your organization. Instead of passing a report from one person to the next, all relevant people can now access, view, and evaluate data and glean the necessary information directly from the source. This new process has many business benefits, including a significantly decreased time to market and a broader understanding of organizational trends.

Added value with real-time access

We mentioned it briefly above, but innovating your business with Big Data gives the departments in your company timely access to the information stores within your infrastructure. Being able to view this data quickly and as requested makes the data more relevant, which also helps executives and those with decision-making power make better, more educated choices when it comes to the direction of the company and its resources.

Bringing innovation to business processes

With all of the applications of Big Data that we’ve discussed, one of the most innovative ones is how it affects the business processes and protocols of the companies that implement it. With more information and data, you can gain a better picture of how effective your existing processes are, as well as flag the areas that may need improvement. Being able to pivot and truly innovate from the inside out is what makes Big Data such a valuable business tool.

These, any many more, benefits are what make Big Data such a valuable tool for your organization. For more information on big data and how you can implement it into your organization, we invite you to check out our latest on-demand webinar.

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