Why You Need Big Data Analytics in Your Processes

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Why You Need Big Data Analytics In Your Process

By Renee T. Sanders

Photo on 5-8-13 at 1.08 PM #3

As the year comes to a close, I thought I would discuss big data…the hottest new analytical process for your business. Oft times I am asked what does it mean for a company to be “agile” in business.  As a comparison, athletes represent a good visual of what it requires to become agile.  There are four things to developing a sense of agility as an athlete.  Flexibility, balance, adaptability, and coordination are key for an athlete and likewise should become the very tenets of any organization.

For businesses, agility is having the ability to respond quickly to changes in the market and or environment, while doing so in a cost effective manner. Likewise a business entity must include, in its organizational tool chest, the ability to be armed with flexibility on one hand and key stake holders and resources that are able to respond rapidly on the other hand. Responding efficiently and quickly, in today’s market, is a must.

If we look back over the past year, there have been so many changes across many different markets.  All of which depends on the incorporation of agileness into the business processes.  The process is most flexible with the  incorporation of data analytics.

For some, the incorporation of big data, as a predictive indicator, contributes to garnering a greater understanding of the needs of your current and future customers.  For example, managing your customers’ expectations by analyzing trends and patterns can, quite possibly, allow an organization to gain a competitive advantage.

Transactional data analysis includes pre-determined analysis techniques, that allow companies to examine data from multiple perspectives.  There are any number of business dashboard tools that when used effectively, the analyzation of big data can contribute to faster business decision making.

In the coming year consider ways of incorporating big data visualization tools into your business process.  By developing a business intelligence (BI) process, you will begin to see trends and patterns in a different light.  Doing so, may help contribute to corporate agility, allowing key stakeholders the ability to respond to changes in the market more rapidly than before.

Get ahead of the changes by incorporating BI tools into the process.  BI tools allow your business to respond more like an athlete by incorporating agility, flexibility, balance, adaptability and coordination.  You could very well become the track star in your market.

Happy New Year!

Cheers

Follow me @reneetsanders

 

Renee Sanders is a PhD candidate in business at Capella University, where her specialization is strategy and innovation. Renee holds an BBA and MBA from the University of Maryland University College. Renee currently works in for a defense contractor as the Director of Strategic Pricing and Price to Win.

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