Over the last few years, Big Data has evolved into data-driven business. But what is data-driven business, what does it mean for companies and what business benefits can be derived from it?
The customer has ever greater demands, demands 24/7 availability and wants products and services that are as individual as possible. At the same time, the competition is not sleeping. So today the question of securing economic success is very central for companies.
Decisions based on data can be made faster and more securely. Integration, analysis and automation must be considered in order to use data profitably for the customer and thus for the company. For example, data must not only be available in the main system, but also in the right place at the right time. In the same way, data sets must be interpreted beyond their pure function in order to identify correlations and gain new insights. Based on this, suggestions for action or automated actions can be triggered. This leads to added value for the customer and thus for the company.
But how can data-driven business be evaluated in your own company? The following five key factors show where a company stands in the area of data-driven business:
Read the full article by our expert Dr. Yves Brise. Published in C-Level magazine 3|2018.