How effective data management can improve your business operations
Vijay
Author
Dec 7, 2020
How effective data management can improve your business operations
The amount of data that is generated and stored around the world is mind-blowing. It is estimated that we produce over 2.5 quintillion bytes of data every single day! and it’s not slowing down anytime soon.
Data and analytics capability is fast becoming the competitive edge for growth and high performing organizations. In today’s world, every business needs to consider data as one of their most valuable assets, and develop strategic priorities on how to effectively make use of the data.
To be able to analyze what makes a business successful, we need to have the necessary data from all the major parts of the business. This can include employee performance tracking, information about customers, transactions and behavioural patterns.
Having the necessary data collected is not enough. What do we do with the Data ? The Data needs to be cleaned, analyzed and applied to be deemed useful.
As a business it is important to keep abreast with the latest trends and be able to determine what will happen in the future so you can get into the game before anyone else or prevent certain events from happening.
Data is everywhere and flows through every part of our lives. How we store data, perform business intelligence and machine learning on our data has changed. It is becoming an automated process that requires minimal human involvement and can be done on a massive scale.
Today, internet of things is becoming everyone’s reality. A world where most of our devices are connected and constantly collecting, recording and transmitting usage and performance data.
The importance you place on data management in your business can be the major deciding factor in continuous improvement, growth or even overall business survival. Some companies have disappeared because of the little premium placed on monitoring and using customer data.
Data stems from a variety of sources for most organizations which means they will need a tool that allows them to connect to their data anytime they want to run diagnosis, or do quick analysis on their datasets.
AI Surge’s platform provides a core feature called “No Code Connector” that allows you to connect with data from a variety of sources no matter where they are located or hosted.
How can effective Data management improve your business ?
Perform quick data analysis and get to business insights in no time
Improve your sales and marketing strategies with the insights gathered.
Detect anomalies or data breaches quickly.
Allows you to stay focused on your business logic leading to increased productivity.
Return on Investment
Recognize consumers' buying patterns
Improve customer experience and focus on what matters
Why we need to manage data:
Improve Data Accuracy:
We create data today more than ever before but having ineffective data management solutions could contribute to data inaccuracy influenced by the volumes and variety of data influx.
Businesses use separate processes to manage different aspects of their business. CRM like Hubspot, Agile CRM, Intercom, Drip for customer relationship management, Wave Apps, Quickbooks for invoicing or financial management. This means a business without adequate data management solution is prone to have duplicate data, data inaccuracies eventually having an impact on the overall customer experience.
To avoid data overlaps and inconsistency with data, it is crucial that businesses have a concrete data management system in place. AI Surge's data management solution provides all the data management features you will need out of the box and at unbelievable speed.
New research shows that inaccurate data has a direct impact on the bottom line of 88% of companies, with the average company losing 12% of its revenue.
It is estimated that 22% of all of an organization's contact data is inaccurate in some form. This figure is up from 17% a year ago.
Business leaders consider data and analytics capability a top investment priority. But the confidence in the data businesses rely on is diminishing year after year. According to the Forbes Insights and KPMG “2016 Global CEO Outlook,” 84% of CEOs are concerned about the quality of the data they’re basing their decisions on. The role data plays in enabling artificial intelligence and the Internet of Things is critical—but one that will be undermined if businesses do not make data quality a priority.
In its raw form, data can often be imperfect and incomplete, but with the right tools and processes, data can deliver true, rich insights to a business. That is where we come in. AI Surge's Data Wrangling and Data Quality features increases confidence in business data by more than 300%. What makes it unique is it is designed by default to provide automation as a service. You give our platform very little instructions with simple clicks, and the platform does all the heavy lifting for you.