The use of data is considered a major driver for improving business performance. You might ask yourself how data in your company can help you achieve your business goals.
Data are individual facts, statistics or items of information, often represented as numbers. In our digital world, data is represented in a form that makes it easy to process by computers or to transmit over networks.
As a business, you will immediately recognize the importance of sales, customer and organizational data. But there are many more categories of data that exists pending on the industry and the type of business:
- Product data
- Sensor data (Internet-of-Things)
- Telemetry data
- Quality data
- Process data
- Usability data
- Performance / log data
Most of this data is organized and stored in some way: documents, files, databases, ... Some data has structure, other data has no structure at all. Each category typically has a solution for organizing and storing data if at all.
You realize that data can potentially help you in addressing a business problem but you might recognize any of these situations:
- Having lots of data available but not knowing how to create useful information out of it. Sometimes you can't see the trees in the forest or you don't know what to build from the trees.
- A tool or database is already existing but data is missing, there are lots of incorrect entries or data entries are classified wrongly
- Having data available in different tools but not knowing how to combine them to create more value
- Having practical limitations to handle large amounts of data
- Not knowing where to start, what data to collect and/or what tools to use
- Not knowing how to use data to improve key performance indicators (for instance product quality)
We can help you solve your business problem and can investigate how data can be used as valuable assets to achieve your business goals.