Businesses are relying more on operational data to drive decisions and ensure that they are headed on the right path for future growth. For this reason, many organizations have taken on big data projects to guarantee that employees are able to fully leverage the information. Using reporting tools in this effort will help give decision-makers a broader view of how the company is functioning and what aspects will need the most improvements by providing a comprehensive visual of the relevant data. With this picture, all viewers will be able to easily understand the metrics and can better decide what actions to take.
While many businesses are realizing the benefits of using big data, there are others that are still unsure of how to leverage it effectively. Because the initiative is still relatively young, these growing pains are to be expected. Data Center Journal contributor Avi Kalderon noted that there are four elements that will be amplified by big data: variety, volume, veracity and velocity. By ingraining these aspects into the big data effort and overall operations, decision-makers can boost their prospects of success. Using big data will substantially speed up the time to market, while providing more innovative choices to pursue and generating more opportunities for the company to profit. With just the collected information and a report designer, employees can easily show how effective certain teams are and contribute to the development process.
"Broadcast up, down and across your organizations that decisions about the future merit of technology choices you make today are meant to be revised and updated frequently and that failure is an expected and natural part of this process if you want to remain competitive in your market," Kalderon wrote. "This is not the time to be 100 [percent] certain that you picked the right tools, or you will inevitably lag behind waiting for the perfect one."
Benefits of big data use
Companies have touted the competitive advantages provided by big data, but some still struggle to use their information constructively. InformationWeek stated that by using big data and a report server, businesses could have a better understanding of their target audience, enhance information security and improve data collection and storage processes. The client base for any firm can sometimes be difficult to gauge, but with big data, decision-makers can identify emerging patterns and better market their services to fit consumer expectations. This can substantially boost overall retention and interest in the company.
While unstructured data can be confusing and intensive, reporting tools can consolidate the necessary information into digestible pieces that make more sense to the viewer. Gathering data from a variety of sources like applications and social media will also fuel more informed decisions and increase the business's likelihood for success.
"So when [retailers] make target offers directly to their customers, they not only know what the customer bought in the past, but also what the customer's behavior pattern is… as well as sentiment analysis from social media," industry expert Quentin Gallivan told the source.