Digital data universe expected to double in size every 2 years — an analyst company IDC reveals.
In today’s competitive world, information is the lifeblood of modern businesses, presenting a smorgasbord of opportunities for them. Pick any research, survey or study report, all of these highlights that it has the potential to revolutionize business performance. Sensing the importance of electronic data, forward-looking entrepreneurs are making the best attempts to harness their critical data for deriving breakthrough effects. However, the speed at which data is growing has also caused data management issues. Deriving actionable insights that could help in translating business performance is not a doddle. To take care of the reams of data available, many organizations are looking for resources, procedures, and professionals who truly accord the information explosion and assist them in informed decision-making. Even they have begun appointing Chief Data Officers (CDOs) tasked with supporting transparent and intelligent data usage across company.
The amount of new data created annually will grow ten-fold, from 4.4 trillion gigabytes to 44 trillion gigabytes during the forecast period – 2013-2020.
In atriark cloud mining litecoin of all data in the world was useful (i.e., might be analyzed) and less than 5% of that was actually analyzed.
Data Intelligence would be to Rescue!
Data intelligence is gaining a great deal of traction nowadays. It enables organizations across various ambits to detect and interact with data in an astute method. In addition to that, it allows them to determine market trends and previous data in a real-time mode, all without breaking up the banks.
Based on Techopedia, Data intellect is the investigation of information, utilized by organizations to expand the reach of their organization and gain better yields in their investments.
Companies, on a huge scale, are embracing business intelligence tools and analytics capabilities, including ONLINE ANALYTICAL PROCESSING (OLAP) to view, access, and analyze varied range of internal and market data.
Business performance, data mining, online analytics, etc. will be the sorts of information that company gather and utilize for information intelligence functions.
Experts believe that info intelligence will change the way we think about everything – directly from sales to human resources and advertising approaches to business growth. Firms integrating information intelligence solutions will expand in a 2x faster speed than their counterparts – a current research countries.
However much data you’ve collected, it can’t add value prop to your organization, if can’t be pragmatically analyzed. The dearth of analysis will flaunt your fantasies of turning your company into a big story, nor it will allow you to capitalize the available market opportunities, and maximize sales and marketing spend.
How well the data has been analyzed will distinguish leaders from the laggards. Data intelligence boosts pragmatic decision-making and turns information into revenue streams. So, seize it as a tactical advantage before it comes in the thought of your competitors or else be prepared to face it.
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