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Big data and profitability

By Guest Author,

Added 10 November 2014

To achieve faster and more effective decision-making, companies will need to increase their access to business intelligence data in real time. - By Anish Kanaran

Capitalising on big data
For many manufacturers, the data they collect doesn't have sufficient value because it is not delivered in real-time to the correct decision makers in a format that is easily digestible. The critical first step for manufacturers that wish to capitalise on big data benefits is to consider how much data the company has at its disposal.

Most companies collect vast troves of data but typically use it only for tracking purposes, not as a basis for improving operations. The second step is to invest in the right systems and skill sets that will allow them to organise and interpret data in order to use the results to their advantage. For instance, centralising data from multiple sources so it can be analysed faster and more easily, and train staff to spot patterns and take actionable insights. 

*Information source: IDC study sponsored by EMC. The "Big Data, Bigger Digital Shadows, and Biggest Growth in the Far East - India".

The author is Channel Director for Epicor in the Middle East, Africa & India.
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