Artificial Intelligence is beginning to sweep over modern computing and it can present some stark benefits for a business. AI has been deployed in various ways to help streamline your operations. Let’s look at five ways AI is helping businesses be their best.
Business analytics are a growing field, as all businesses can see benefits to their operations through the optimized performance and decision making that these kinds of analytics enable. Let’s go over business analytics, and how they can be used to your advantage when applied to your technology.
Businesses today are doing more than ever to utilize the data they take in, and it shows. They are operating with more knowledge about their business, and thus are able to successfully create a usable knowledge base that, for some, will allow them to predict positive and negative market dynamics fairly accurately. After seeing how this platform can positively affect individual businesses, many other businesses are taking to the strategies. The problem that many businesses encounter, however, is that they are woefully unprepared to utilize analytics; or, they read too far into them. Today, we’ll take a look at data analytics and confront some of the problem's businesses are having.
Are You Prepared?
The first thing that you have to understand about the placement of a data analytics system is that you need to have a reliable silo of information in which to work from. If you don’t set this up properly, the analysis will not be thorough enough to properly represent your business’ operations and will therefore not be as reliable as you would typically want this type of analysis to be.
To get reliable analysis through analytics, you will first want to set up a data warehouse. A data warehouse is essentially a database that is fed by your existing databases. By having all of your business’ information in one spot, it will make your analysis, whether it’s conducting analytics or intelligence reports, more accurate and reliable.
Reading Analytics
Once you have your analytics platform set up properly, you are ready to run reports. There are a couple really simple, but crucial, mistakes people routinely make when reading their analytics reports.
It’s great when you decide to let the data your business collects work for you. If you would like some information about how to integrate data analytics into your business’ call the IT professionals at The Connection, Inc today at (732) 291-5938.
The way that an organization handles risk is a big deal. Despite being born out of opportunity, opening a business itself can be looked on by many a major risk. As a result, every business should be looking to manage their risk. Today, we take a look at the role risk plays in business, and how IT, for all its benefits, carries with it some risk.
Your data is one of the most important assets at your business’ disposal. It’s really indispensable. Not only are large amounts of it the result of successful operations, it also can help your organization better understand the intricacies of its own operations, and where you want it to go in the future. Does your business have a process for collecting, storing, and sorting vital data so that your organization can figure out where to go next?
At The Connection, Inc our technicians come to work every day to help organizations like yours make full use of your technology. Moreover, we are just starting to realize the potential of data ourselves. By having our certified technicians build a dedicated data warehouse, you are creating a construct that embraces the future of data analytics. This analysis may just be the key that allows your staff to strategically plan the next initiative that will take your business to the next level. Here are some of the types of data a comprehensive data warehouse will hold.
Client Information
Your business depends on the patronage of many clients--people who buy your product or service on a varying basis. However, all of your clients will have information that you want to keep on-hand in the event that you lose it. This includes contact information (like email addresses and mailing addresses) as well as phone numbers and otherwise. You should also include any information about services that you’ve rendered for them so that you’re not caught unaware should you lose records of what type of relationship you have.
Vendor Information
Similarly, your organization also depends on contact with vendors who provide the resources required in order for your business to succeed. This could be in the form of software solutions provided by a developer, or hardware issued by a distributor. Utilities, like your Internet, electricity, HVAC, etc. are equally as important, as they make your office an environment suited for work. In the event the information about your vendors is compromised or lost in any way, you will want to be ready to recover it so that your business relationships can continue to function properly.
Analytics
While storing data and backing up any data related to your vendors and clients can help your business recover in the event of a disaster, you also want to use this information to learn more about your consumer base and create a profitable future for your organization. Doing this is called analytics. Leveraging analytics is a great way to take seemingly arbitrary numbers and find trends that mean something for your business. There are applications that can help your organization find new markets, target the best client base, and identify inefficiencies that compromise your organization’s ability to turn a profit.
If your business truly wants to take advantage of data during the new year, now is the time to take the initiative and invest in data warehousing and corresponding analysis. To learn more about these solutions, reach out to The Connection, Inc at (732) 291-5938.
Managing your businesses technology is important because your operations rely heavily on efficient access to information. One advantage that secure and reliable IT provides is the ability to remain competitive, as the slightest advantage could mean a world of difference in your given market. One new IT trend is the analysis of big data. If it is leveraged properly, you could help your business get the leg up on local competition.
Inefficiencies can often keep operations from producing a satisfactory return. It might be time to start measuring your company’s ability to meet expectations. With the use of state-of-the-art computing programs, you can locate the problems your organizations is having and work toward patching the process any way you can. While data-collection was once a difficult system to implement, new computer-driven, business-intelligence software can provide you with the vital answers you need to make the changes required for profitability.
Today’s technology has accomplished a ton of fascinating things, but none are more important for the average business than big data analytics. When considering the incredibly competitive nature of the business environment, anything that gives your company an edge is a welcome addition to your strategy, and it’s more important than ever before to heed this call to action.
According to a recent survey by IDG Research Services of business and technology leaders, on average, only 28 percent of data stored and maintained has value to the day-to-day operations of a business. Translation: a whopping 72 percent of files stored by a business are useless.
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