In the current business environment businesses are constantly being asked to react and adapt to forces of change derived from the economy, government, media or the market. However in recent years one of the biggest driving forces for change has been the innovation and explosion of the technology sector. Technology in business has always been a driving force but rarely before have three phrases dominated the discussion as much as cloud systems, social media and Big Data. In particular Big Data and data services in general have seen a ridiculous growth in demand as business’s attempt to gain a competitive edge and improve their performance.
Big Data: The Context
While Big Data has been around for quite a while it is only recently that businesses have been able to extract and utilise it to the extent where it can be transformative to business practices. As businesses are capturing increasingly massive quantities of structured data they NEED to be using business intelligence tools to drive their business practices. A fact that was abundantly clear in IBM’s 2013 report Analytics: A Blueprint for value, Converting big data and analytics into results.
In the report IBM researchers surveyed 900 leading business and IT executives from around the world (70 countries) about a variety of areas to do with Big Data and data analytics. In one particular survey when asked what percentage of their business decisions were impacted by data analytics 25% of respondents said that more than 75% of their decisions were based off big data analytics while another 25% said 50% to 75% of decisions were based of big data findings. This survey points to a growing trend in business where the top performing businesses are the ones that are informed about their data and use it to refine and improve their businesses.
Data Analysis: What it can do for you
With ground swell of interest in data services due to the Big Data revolution the SME market is hungry for data based analysis tools that will improve their business’s performance. Many SMEs are just realising the very real benefits of utilising an efficient, reliable and innovative data and business intelligence service. At Resurg our Data and Business Intelligence services look at providing tools for small-medium business owners to analyse their huge amounts of data effectively to improve their business’s performance.
Using our years of experience and our data analytic systems business owners can target key strengths and weaknesses within their company. Our Benchmarking and Dashboard products can help provide the information you need to improve your profit margin, effectiveness and boost your competitive edge. Some of the things tracking and analysing your data and can help with are:
- Constructing customer needs based marketing plans
- Crafting strategic plans that are better informed and based off the mathematical realities of your company.
- Targeting areas of your business that need to be refined and improved e.g. sales, staffing costs, ordering, marketing
- Providing the platform to compare how your business performs compared to your peers through our Benchmarking service.
The above mentioned points are just a few of the benefits and potential uses of data that Resurg can offer you. In a landscape where more and more businesses are using data based analytics to produce best business practices, small to medium enterprises can’t afford to be left behind.