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We've all heard about Big Data, and for most of us, the concept of taming big data is overwhelming. In the average business enterprise, data is everywhere - hidden in spreadsheets, report writers, databases, ERP, CRM, SCM and other large systems as well as in legacy systems and small packages designed for accounting or other targeted departmental activities. The first order of business in taming big data is to pull all of that data together. Once the business has cataloged and compiled its data, it faces an even bigger task, namely, how to tame that data and make it accessible, clear and concise so that every user can leverage the data to effectively contribute to the business bottom line.
If your business employs a BI software suite, it can accomplish all of these tasks. But, that is not the end of the discussion. Because, once your business data is accessible and clear, it can be analyzed more easily and the business can establish appropriate KPIs, develop Balanced Scorecards and make vast improvements to its forecasting and predictive analysis process. Users can access data to make more confident decisions and make them more quickly and effectively than ever before.
Moreover, your business will be performance-driven and that is the goal of every business manager and business owner. Markets, competition and customer needs change rapidly today and, if your business is going to keep pace, it must tackle the big data issue head-on by crawling out from under the mountains of data and creating personalized views that allow the average user to measure activities, tasks and resources against goals at the individual, departmental, divisional and organizational level. The truth is that Big Data is useless if it cannot be easily managed and analyzed. What you need is insight and valuable metrics to make decisions about new products and services, pricing, marketing campaigns, customer relationships, supply chain, financials, resources and every other aspect of your business.
Accurate, precise metrics and business intelligence allows a business to optimize processes, collaborate and improve revenue growth and profit margins. KPIs can measure training programs and impact and sensitivity analysis can help you predict the success or failure of a pricing change before you implement that change. Personalized dashboard software allows the business to cascade goals and objectives, empower employees to make good decisions and hold employees accountable for results. Big Data is just that…a mountain of data. But when you add a BI tool to the equation, you can tame big data and make it do your bidding. Crawl out from under all that data and see the light! Sell, plan, measure and succeed!
Shambhavi Vyas: I am working as Business Intelligence consultant. I focus to provide simple BI Solution with great TCO to my clients. I focus on BFSI industry and have also worked with other industries to offer best value to my clients and partners. I like socializing and participating in BI forums and groups.