Francois Cadillon, Vice President of Sales for the United Kingdom, Ireland and Southern Europe of MicroStrategy, gives us the keys to make the most of the large volumes of data generated by organizations.
Big Data has the potential to transform the business by allowing managers to make decisions based on reliable data more quickly. According to the analyst firm IDC, in 2019, companies will spend 187,000 million dollars in Big Data and analytical technology, which represents an increase of 50% compared to the 122,000 million invested in 2015. Organizations are discovering new ways to take advantage of this potential, obtain information and turn Big Data into a competitive advantage. In a world where the data is the king, the strategies oriented to the democratization of information and that put the analytics in the hands of employees throughout the company obtain better results.
The implementation of the BI of ‘self-service’ has become more popular because it allows users of different levels and departments to act on knowledge and offer a better service to their customers and partners. Once organizations decide to apply this approach, many find it difficult to implement a complete analytics solution that meets the needs of both business users, managers and IT department staff. Instead, they have a mosaic of point solutions, forcing them to deal with data silos, complicated workflows, limited scalability, and a delay in adoption by users. These challenges, aggravated by problems related to the quality of the data,
In order to avoid the emergence of new problems that hinder growth and efficiency, organizations must find a balance between flexibility for the end user and the performance and control provided by a true business analytical platform. To achieve success, organizations must establish roles and processes early, publish a verified registry system, and provide business users with the power to publish new data and dashboards in a controlled environment. Companies must promote adoption taking into account, in the first place, user needs and then providing access to data through web, mobile and desktop applications, all unified in a single business platform. By implementing this systematic approach,
However, the journey towards digitalization is not free from possible pitfalls. As organizations try to be more data-oriented, they will begin to deal with ever-increasing volumes, making the availability of high-quality data more important than ever. Unfortunately, this same increase in the volume of information makes it more difficult to quickly deliver data to analysts. This is where automation, through artificial intelligence and machine learning, can help. This software can support the decision-making staff by screening through large volumes of data and bringing to the surface the most important knowledge,
For organizations that are democratizing information, ensuring data hygiene is also a great challenge. Contaminated data can be a very expensive problem that requires a lot of time and resources to solve it. The introduction of small inconsistencies in the data sets can have exponential effects in several departments, since users share unverified information with colleagues, customers and other people outside the company. Without even realizing that there really is a problem, well-intentioned employees can make decisions based on incorrect data, which can lead to waste of the company’s resources, increased costs and the distortion of results.
The “reverse engineering” of irrelevant, obsolete or erroneous data is a tedious and slow process. It provides an opportunity for competition to step forward because the company’s resources are diverted to cleaning and restoring data so that they return to their uncontaminated state. Of course, prevention is the most advisable. A solid and complete data management environment can ensure that each user in the organization is granted the level of access to the correct information. This, together with the education of the employees, becomes the best way to guarantee the quality of the company’s data and to maintain security.
The use of BI and analytics will only become more ubiquitous as companies recognize the potential benefits of implementing an appropriate holistic approach to take advantage of big data and operate with those massive volumes of information. Choosing the right technology is the key to ensuring that users get the most out of the content they create while operating within a managed BI ecosystem.