Big data is a growing industry and data driven companies are quickly becoming more valuable as they take more informed decisions and increase their bottom line. Large corporations have been leveraging information to their advantage for some time. But big data is not only for big companies – organisations of any size can become data driven.
Here are some of our tips on how to become a data driven company:
- Identify your data needs
Talk to the stakeholders in your company or department to identify what data can help facilitate better decisions. Is it customer data? Employee related data? Product data? Chances are that you already have that data in the company or could buy it in.
- Build your data
If you have the data already, bring it together and have it ready for analysis. Set up processes that will facilitate the collection of data as you move forward. If these are the first steps you are taking towards building your data power, don’t hesitate to call in expertise and help. There might be services out there that can help you build a robust big data system without putting any pressure on your company.
- Visualise it
Having access to data is one thing, but visualising it in a meaningful way is another. A graph is only as good as it can be read and interpreted. Visualising big data is an art. Not only an art as design, but communication art. Talk to your stakeholders and identify a visualisation tool that responds to your needs. There are many tools out there already – such as Tableau or PowerBI, and there are custom applications too. Remember that there is no such thing as one size fits when it comes to visualisation needs.
- Use it
Data will only be good on the day you analyse it. Make sure your analysis is on-going and identified trends and insights are used regularly in decision-making.