Revealed: How to Transform Your Company into a Data Driven Business
A recent Forbes article on future trends gave their #1 Prediction of Big Data Trends for Business Intelligence:
“By 2020, information will be used to reinvent, digitalize or eliminate 80% of business processes and products from a decade earlier.
As the presence of the Internet of Things (IoT) — such as connected devices, sensors and smart machines — grows, the ability of things to generate new types of real-time information and to actively participate in an industry’s value stream will also grow.
Customers, employees and citizens will become engaged principally through digital means. With operational processes quickly becoming digitalized, traditional analog and manual processes will be automated, including both physical and human elements. Many, if not most, decisions will be algorithmic, based on automated judgment.
Essentially, things become agents for themselves, for people and for businesses. Think of the car that alerts emergency services and an insurance company or the smart thermostat that schedules service. The added connectivity, communications and intelligence of things will make many of them agents for services that are currently requested and delivered via human intervention.”
In other words, in the future it won’t be so important what you’re selling. What will be important is the information about what you’re selling.
This trend was pointed out again recently at SAP’s recent SapphireNow technology conference in Orlando, Florida, in some of the keynote speeches as noted in the above post:
“One key reason for this excitement is that a growing roster of companies in diverse sectors including industrial manufacturing are recognizing that they are essentially software and services companies, and that their future success will depend on their ability to deliver value added services to their customers – for example John Deer, the agricultural equipment maker, is using sensor data and big data analytics to provide predictive maintenance services to tractor owners.”
Sensor data can be used for multiple purposes to improve your business. Sensors that can report home about a product’s usage and environmental conditions can help designers rapidly improve their products. Sensors that can identify where your products are can illuminate process problems and drive efficiency improvements. The sensors driving the spread of the Internet of Things are delivering information that product designers, process managers, and marketers have only ever dreamed of until now.
So just how can companies capitalize on this trend, and become more data driven? The key is revealed in two words: predictive analytics.
By using the power of predictive analytics in your business, you can start to transform your company into a data driven enterprise.
Simularity can help you do this.
We are currently working with a select group of customers who are conducting pilot projects with us, to assess the benefits of using our engine to help them make better data driven business decisions, reduce costs, and increase profits.
Contact us today for details.