Quantcast
Published On: Sun, Oct 11th, 2015

Big Data Drives Big Success

Companies which know how to manage the multitude of data regularly are most successful – it’s not only common knowledge but also a fact now corroborated by a study by Economist Intelligence Unit (EIU). According to the study, 97 percent ofsenior sales executives from mid-to-large sized companieswho reported making real-time data based decisions scored higher results in sales objectives execution. But how do those companies harness the big data for their business success?

Intelligent Business Software

The answer is simple – 60 percent of these firms claim to use self-service BI tools to access customer or account data at least once per day. Self-service BI companies proliferate on the market and offer a wide range of services. Most comprehensive ones combine the data visualization features of a dashboard software with data warehousing capabilities. When asked what features of BI software they value most, most managers quoted data accuracy (53%) followed by the possibility to integrate the tool with existing databases (38%). Data accuracy mentioned refers to the invaluable capability of SaaS to update automatically with no need to enter new data manually. Consequently the tool allows you to monitor and work on always accurate, real time data which is a necessary support for effective decision-making. The connection to existing databases also saves you the time you would otherwise spend collecting all the reports and considerably decreases the cost needed for thedeployment software. To make the most of these features make sure that the data sources you want to connect to the tool, be that SQL, CSV files, Facebook or Google Analytics, are in their best form.

euro money photo

photo/Luis Javier Modino Martinez

Data-enhanced business operations

According to the aforementioned study, empowering sales teams by investing in sales analysis software brings measurable returns. Sales leaders were more likely to describe themselves as stronger than the competition in terms of revenue growth and executing on sales objectives when they had support in business analytics tools. As BI software gets more and more user-friendly, it can be applied on every level in your company and operated by all employees regardless of their job title. In case of dashboard software, users can create charts by means of a drag-and-drop interface and drill down to data that interests them the most. Although data visualization vendors usually offer packages with full range of capabilities restricted only to a limited number of users, dashboards can be shared by e-mail or URL with more viewers. By empowering all your team members to monitor data regularly, you give them the opportunity to notice problematic areas where they underperform and improve their results. Moreover, interactive and mobile-optimized BI software can be accessed from anywhere which means that business decision-making is no longer restricted to your headquarters. All the infrastructure needed for setting up of your dashboards, including IT support and data storage is taken care of by the software provider. Now the only thing you can focus on are your business operations.

It’s important to build awareness of the benefits of the regular use of self-service BI tools across all company levels to engage all your employees in decision-making process and together elevate your company to the high performers’ league.

Author: Ravi Kumarr Gupta

On the DISPATCH: Headlines  Local  Opinion

Subscribe to Weekly Newsletter

* indicates required
/ ( mm / dd ) [ALL INFO CONFIDENTIAL]

About the Author

- The generic Dispatch designation, used primarily for press releases or syndicated content, but may be used for guest author requesting a generic nomenclature

Tags
Displaying 1 Comments
Have Your Say
  1. Big Data Drives Big Success - News Aggregator says:

    […] Read more at The Global Dispatch Related News City building boom drives up construction costs Construction firms are jacking up their prices as a building boom in the city has created high demand for their work, said a new report. Building costs have risen 15… … READ MORE How We Uncovered the Secret to Staffing Sales Success At InsightSquared, we do everything we can to understand what sets top-performing staffing and recruiting firms apart from the rest of the field.We read blogs. We look at industry research. … READ MORE Arenado homers, drives in 5, Rockies sweep Dodgers 12-5 DENVER (AP) — The Los Angeles Dodgers came into Coors Field fully anticipating a clinch. They leave a little clenched.Being swept by a last-place team will do that.Nolan Arenado homered … READ MORE With no System of Record of Customer Success, Did Anything Actually Happen? It’s Monday morning. You’re headed to the monthly exec meeting. Every department manager will be there—waving stats and metrics of accomplishments and closes—justifying their departments’ existence. As the director of … READ MORE “Why Culture is so Important to Small Business Success” The simple fact is, a carefully cultivated culture is one of the most important components of success for a small business. Many businesses have amazing business models. Many businesses have … READ MORE The Surprising Secret to Mindy Kaling’s Success The creator and star of 'The Mindy Project' has unexpectedly found her happiness Source:: The Surprising Secret to Mindy Kaling’s Success READ MORE Nigerian anthrax strain: May be associated with vaccine evasion A new study by University of Florida researchers identify a strain of the bacterium, Bacillus anthracis, in Nigeria that genetically are only found in West Africa-Chad, Mali and Cameroon to … READ MORE Advantages Of Using Real Browsers For Website Load Testing Web load is basically a process that can be used by online site/application owners in order to test loads with the use of real web browsers. Using website load testing … READ MORE City building boom drives up construction costs How We Uncovered the Secret to Staffing Sales Arenado homers, drives in 5, Rockies sweep Dodgers With no System of Record of Customer Success, “Why Culture is so Important to Small Business The Surprising Secret to Mindy Kaling’s Success Nigerian anthrax strain: May be associated with vaccine Advantages Of Using Real Browsers For Website Load var hupso_services_c=new Array("twitter","facebook_like","facebook_send","google");var hupso_counters_lang = "en_GB";var hupso_image_folder_url = "";var hupso_url_c="";var hupso_title_c="Big Data Drives Big Success"; […]

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Sign up for our Weekly Newsletter



Categories

Archives

At the Movies



Pin It