Businesses Embrace Big Data for Smarter Decisions
Businesses worldwide are increasingly recognizing the power of big data, with 64% of companies investing or planning to invest in it by 2013, as per Gartner. Cisco predicted global cloud traffic to reach 5.3 zettabytes by 2017, underscoring the growing value placed on data.
To harness this power, businesses must capture and organize data effectively. This involves using solutions like scanning paper-based invoices and collaborative tools to streamline processes and reduce errors. Having the right operational systems in place is crucial for collecting the right data.
Big data can originate from various sources such as financial and operational systems, social media, and internet-enabled devices. It enables businesses to enhance customer engagement, improve supply chain interactions, and boost operational performance. However, capturing data from multiple places can lead to errors. Therefore, companies must ensure they are analyzing accurate and relevant information. Cleaning up data capture and process stages guarantees consistent, accurate, and representative data for future analysis.
Companies like HubSpot use specialized automated data recording solutions, such as their Data Hub, to maintain consistent, clean data. This platform performs continuous monitoring, deduplication, format fixes, and smart enrichment, ensuring reliable datasets across teams. By doing so, businesses can make smarter, real-time decisions based on historical facts and future predictions.
Big data, when managed effectively, can transform businesses. It offers insights for better customer engagement, improved supply chain interactions, and enhanced operational performance. With the right systems and tools in place, businesses can analyze accurate data, make informed decisions, and stay ahead in the competitive market.
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