4 Ways to Leverage Data for Optimal Results
In this digitally enabled world, data has become of incredible value for businesses. If you are a business leader wondering how to leverage data for real value and impact, you are in the right place! No doubt, the companies who have employed forward thinking data management and analytics approaches, have gained a competitive advantage in this data-dominated world. However, the question is: how to capitalise on your data? How to Leverage Data for Optimal Results At Centelli, our team of business intelligence experts suggests four simple ways you can leverage data to your advantage: 1. Use Data to Create a Comprehensive Product Platform, Not Just a Pipeline In the past, one approach that businesses took was to push new products and services to their customers. This was called the pipeline model. Today, however, by taking advantage of data, companies can interact with their customers in a more meaningful way. What’s more, using the same data, they can scale accordingly. This helps them create a comprehensive product platform with the backing of robust data. 2. Leverage Data Analytics for Improving Customer Satisfaction With massive amounts of data that has been accumulated, it can become extremely difficult for companies to analyse that data and utilise it to gain a competitive advantage and increase customer satisfaction. However, using effective data analytics tools, the data obtained from web traffic, surveys, and call centre records can be used to give better insights that can enhance customer experience. Here is one key example of this in action: Global retailer Walmart leverages real-time data to fine-tune its personalized marketing, offers, and product recommendations. Want to make your data work to your advantage? Our business intelligence experts and data scientists can help you unlock its full potential. We specialize in gathering, organizing, interpreting, and integrating data across platforms for deep insights. Contact us today. Notably, AI-powered inventory management not only helps the company avoid issues like overstocking and stockouts but also ensures customer delight and wins more customers. 3. Becoming Reliable and Effective with Data Your customers want relevant and useful content in this digital world. Portraying yourself as a transparent company goes a long way in establishing you as a reliable source. Glassdoor and Indeed, online job search companies, for instance, do this effectively by providing a reviews and ratings section. Job seekers can use this section to learn more about the companies they want to join. 4.Using Data for Better Business Decisions Finally, managing and analysing data better can help improve your decision making. From enhanced supplier management to driving costs down, there are many ways data can prove insightful for you. Markedly, big data and data formats are evolving with new breakthroughs in technology and platforms to manage, store, process, and transfer. These present new challenges, and so you must ensure relevant expertise and create processes to manage it all.
The Importance of Monetising IoT Data
Synopsis: Experts believe IoT data monetization is set to play a pivotal role in driving broader economic growth. Companies wanting to thrive and scale in today’s digital landscape must leverage new IoT data to boost business intelligence, operational efficiency, and revenues. It is said that by 2020, 69% of global households will have Internet access. According to data from the UN’s ITU agency, global smartphone penetration is expected to reach 75% globally. Smart devices are now taking over homes across the world. This leads to unprecedented opportunities of finding incremental revenue for IoT (Internet of Things) suppliers. There is no denying the fact that IoT isn’t just another internet trends. It is the future of business and here to stay. Explore how IoT is redefining revenue streams! IoT Promises to Deliver Data Driven Experience IoT data offers amazing opportunities, better operational efficiency, leading to reduction in waste. Cognitive computing when paired with instrumented data has the power to drive new business models and find new chances for market expansion. In fact, many experts now agree that IoT data monetization is on the cutting edge of broad economic development. Therefore, companies that want to develop and expand in today’s digital world must use new IoT data to understand economic optimums and augment market performance. Furthermore, organizations ought to be willing to compensate for data to help them better understand definite segments, as well as create new and exciting marketing initiatives. Two points in case here: promotions and customer insights. Take for example the John Deere range of IoT based products. These run analytics on connected equipment in possession of their farmers. The data is collected via in-field sensors, which is then used to: But that’s not all. The new tech is also enabling farmers to reduce water wastage while enhancing the yields. Undoubtedly, this is the right time for organizations from across sectors to start exploring what IoT data can do for them. Seizing Opportunities Brought by IoT Data Traditional ways of conducting business are rapidly evolving. New ways are emerging for data monetization, whether it’s big data, mobile data, or IoT. Connected IoT devices capture valuable data on user behavior, environmental changes, and how machines, equipment, and devices perform. Businesses can turn this data into revenue through innovative applications. Proactive maintenance, smart industrial and domestic solutions, and optimized supply chains are some common use cases. It is, however, important to remember that success brought on by the utilization of IoT data should also be complemented with solid relationships with your customers. Importantly, you also need to build a quality business model. It is a non-negotiable imperative for organizations and enterprizes that want to succeed in the digitized world. Unlock Your Data Value with Experts It takes deep expertise, the right solutions, and well-defined processes to collect and process data, navigate its complexity, and draw meaningful insights. At Centelli we provide a range of business intelligence and intelligent automation solutions with capabilties to handle Internet of Things. Our custom-built tools can help you make the best of your IoT data, monetize it and drive real value. Ready to Monetize your IoT data? Email us for more info or book a call to help us understand your requirements.
3 Invaluable Tips for Successful Hybrid Cloud Migration
With Hybrid Cloud migration being all the rage in IT, businesses around the world are quickly jumping on the bandwagon. But only to risk results with an ill-planned migration strategy! However, as with anything in the realm of business intelligence (BI), excellent results rely on impeccable planning and seamless execution. This in the case of cloud deployment means knowing exactly where you’re migrating to, and how you intend to get there. What is Hybrid Cloud? Hybrid cloud enables businesses to run applications across private IT environments and public cloud services like IaaS, PaaS, and SaaS. Agility and cost optimization are the key benefits of this unified IT infrastructure, allowing seamless movement of data and workloads to adapt to evolving operational needs. Crafting a Perfect Hybrid Cloud Migration Strategy Notably, cloud migration strategies can go over budget, take more time than expected, and cause routine disruptions in business. This happens due to a lack of highly expert BI and IT teams, in-depth assessment, and proper migration planning. However, we can assure you that adopting the best key practices in data migration—such as asset identification and categorisation—can minimise risks and cut costs by a large margin. Here are a few more tips (simple yet critical) to make sure you get the most out of your big move: 1. Map Out Your Goals and Objectives As a significant departure from on-premise operations, cloud deployment demands a comprehensive plan in order to fully take effect without compromising on day-to-day tasks. This is why organisations have a responsibility to prioritise their objectives and align them with cloud functionalities to ensure a smooth and productive transition. 2. Involve Key Employees Before The Switch Hybrid Cloud migration might seem like a job for IT technicians, but the impact will affect practically everyone in the organisation. So, involve your key employees in the decision-making process from the outset. Also, you must communicate with others to outline which of your services should move to the cloud. At the end of the day, transparency is key! Allow employees in critical positions to voice their opinions and make sure everyone is on the same page before making the jump. This means addressing the skills gap prior to migration and training employees to understand performance demands. 3.Test Endlessly to Hybrid Cloud Success As with any kind of technology, testing is absolutely crucial to security and success. Experiment and set benchmarks in different areas of performance. In fact, many of the complexities and problems associated with hybrid cloud deployment can be eliminated by simply ensuring the capabilities of your network, and conducting cross-checks every step of the way. As a Business Intelligence & Data Management Consultancy, we view cloud migration as the future of BI technology. Don’t let your fears keep you from embracing the latest developments in IT. If you are looking for cloud migration assistance, contact us and map out the future of your business!
Implementing a Successful Data Initiative
An effective corporate data initiative provides a solid groundwork for successful operations. Whether a company needs to adapt to a changing business environment or pursue its own growth ambitions, data-driven decisions help navigate with confidence. And thanks to the world-changing shift towards digitisation, it is possible to measure, monitor, categorise and analyse anything and everything called ‘digital data’. Moreover, improvements in computing—with power on tap through cloud providers such as Amazon AWS, Microsoft Azure, Google Cloud Platform, and others—allow for lightning-fast data analysis. Imagine the massive business intelligence and actionable insights this can provide! How Data Intelligence Benefits Significantly, what a company does with this data available will make the differentiate the good from the great! Positive differentiation can help organisations in the following areas: However, a strategic approach goes a long way in maximizing the results, value, and impact of corporate data initiatives. Key Considerations for a Successful Data Initiative Here are some key considerations to keep in mind: Data initiatives must be agile in their execution to ensure that quick adjustments to the approach can be made and results are delivered quickly. Agile organisations tend to actively seek feedback, learn and adapt. This agility is critical to ensuring success of complex initiatives such as data. Each organisation, its data, priorities and strategy is different from others in the industry. Data initiatives must cater to these unique needs. Big data management must also take into account the unique model, customer, operational risks and cultural needs of the organisation. Successful data initiatives need to drive business outcome and should be sponsored by senior a business executive. Senior sponsorship ensures the data initiative delivers results that matter and helps unblock organisational barriers that will come up through the journey. Data security and privacy is a very important aspect of any data initiative. Especially, if your organisation deals with customer/end user data. Therefore, you must build data security into the data initiative from the start to ensure compliance with regulations such as GDPR. In order to maximise return, you should make investments as close to the point of need as possible. It should be possible to scale, and pay for the scale, in line with the uptake of initiatives. Cloud resources are vital to enabling this, notably. If you are just testing the waters or have a specific need at this time, focus on the most important aspects and expand over time. Also, if you are not actively managing your data, you risk it being mismanaged. Don’t wait; act today. Take control of your data. Our data management and BI consulting services are only a click away! For more information or to request a service, contact us now.