By Ruth Richter • January 09, 2019
At a recent conference, ThoughtSpot Inc. CEO Sudheesh Nair called data the new crude oil, saying it is useless in its raw form. When crude oil is first drilled from the ground, it comes out in varying viscosity and a color ranging from black to yellow depending on its hydrocarbon composition. As is, from the ground, crude oil is unusable. After distillation, refinement, and processing, crude oil becomes usable as gasoline, kerosene, and even asphalt.
Much like crude oil, big data pulled straight from most systems is unusable as is and requires distillation, refinement, and processing to be useful to businesses and data consumers. Data can back up those “gut instincts,” inform the decision-making process, and provide insight into key business areas like stock availability and product returns.
Fortunately, you can use your big data better to make smarter decisions in 2019 and lead to better business advantages.
Be Effective with Your Data Consumption
Data just for data’s sake isn’t doing anyone any favors. It may look impressive to bring a big stack of reports to a meeting, but you’ll be a lot more effective if you’re focused on pulling and consuming the right reports. Look for ways to consolidate information and improve big data flows. Can some reports be retired? Maybe some can be refined for more streamlined results. Make sure the information you are spending your time with is the information people actually need and use on a regular basis.
This Will be a Work in Progress
Your initial efforts for big data consolidation may make some dramatic changes in a short period of time and users will rejoice, but don’t be surprised if the data still needs some fine-tuning as you go. Initial data transformations may give way to ideas for future updates and changes and more innovative ways to use and view data for smarter business decisions.
Algorithms are Your Friends
While there still needs to be a human factor in ultimate decision making, artificial intelligence can take your data and pull it through algorithms to use historical data to improve future actions. Algorithm data provides information enhancement to colleagues and employees
Data Refinement at its Finest with IN-SYNCH
If your data is still feeling like unusable crude oil, it’s time to get the right systems in place to refine data into the most usable information in the most usable format. Connecting the data across systems is an easy first step, made easier by IN-SYNCH by ROI Consulting.
A safe, secure, and instant synchronization platform, IN-SYNCH connects data across Sage ERP, third-party online shopping carts, ecommerce sites, warehouse management systems, CRMs, and more. Make sure data from one source is informed by data from another source with IN-SYNCH integration. Keep data up to date with real-time synchronization. But most importantly, get access to all your data in usable formats.
Ready to refine your crude big data for use? With more than 20 years’ experience helping companies of all sizes integrate their data, ROI Consulting can help tailor the perfect data refinement for your business. Contact us or call 402-934-2223 ext. 1.