Using data to help your business grow is becoming a necessity these days but knowing how to properly sort through all the available data to get the best analytics for your company can be intimidating. Big Data has millions of terabytes and finding the couple of gigs that you need to optimize your business practices is not a small task. With the right Intelligence Technology team and software solutions, however, you can follow the steps from data collection to incorporating it into your business.
Collect and Process
There are three types of data usually gathered by companies: structured, unstructured and semi-structured. Most of this is gathered by a variety of software solutions including web scrapers and a company-wide database full of project forms and files. Structured data is like what you would see in a spreadsheet and is the easiest for programs to process. Unstructured information is generated by humans in the form of messages and social media posts, making it harder for automated processes to gather. Semi-structured data may have some attributes making it easier for software to find, but not necessarily understand such as emails. This means giving your IT team the software designed to collect and process the various types of data to send it through your data cleansing solutions.
Cleanse and Analyze
Once you have collected and processed your data into a form easily read by yourself and your software, it is time to cleanse and analyze it. This process weeds out bad data that may alter your results as well as extra data that you will not need for the reports at hand. For instance, if you are building a picture of how your company performed this quarter over the same period last year, then you will want to cleanse your data of information from other quarters or years. This can take years if you were to do it manually, but minutes with the right programs. You can find software solutions to do both the cleansing and analyzing for you so that you can quickly and effectively finish your reports and move on to using your data.
Business Initiatives and Reports
It is important to structure your analysis so that it aligns with the initiatives of your company. This can help you integrate the information from the reports into the overall business strategy and make beneficial changes moving forward. For instance, if your company wants to increase customer acquisition and retention through online portals, then you will need data on what is and is not working with your current methods as well as with what your competition is doing. The right software solutions packages can take your data and make the reports you need with just a few guidelines, saving you hours of combing through the information yourself.
Marketing and Innovations
Probably the biggest two areas where companies need data analysis are in marketing and innovations. Your cleansing software can give you the numbers you need to see how your marketing is doing, how the market in general is doing, and what methods are working the best. It is up to you, however, to find the innovations for marketing, products and services to boost your sales, however Big Data analytics can drive that innovation. Whether you are analyzing data from product prototypes or from your latest ad campaign, the right report can show you where changes need to be made and can inspire a creative solution.
Sorting through Big Data for your company can be easier than you think with the right software solutions for your Information Technology department. You can collect, cleanse and analyze data to create the reports you need to see how your company is performing in the market, what marketing techniques are working the best for you, or even where your products need innovative tweaking. With the right solutions package, your IT department can take care of all of your data needs and help you optimize your company, products and marketing.
It can be difficult to sort through big data, but luckily there are some tools to help