How to wade through the big data waters
Wrap your head around this: Each day, humans create 2.5 quintillion bytes of data. You will hardly be surprised, then, to learn that 90 percent of existing data was produced within the past two years.
In our hyper-wired, always-on world, businesses can no longer rely on legacy practices and technology to empower their employees and consumers. Leaders who make decisions based on a single factor run the risk of missing the global picture, which grows by terabytes by the nanosecond.
So here’s billion-dollar question: Exactly how can you gather, understand and implement a big data strategy for the long haul?
Helpfully enough, one of the largest private-label manufacturing resellers in the US did just that. During IBM Insight 2015, representatives from that company, a consumer products firm, will share how they wrangled their analytics multiple data sets at a time. With the help of an IBM solution, company decision makers captured, analyzed and mined consumer information, optimizing operations to meet consumer demand and accelerate the supply chain.
Accomplishing all this, however, meant taking a good look at how the company had been doing business:
- The company relied on manual systems to reconcile data.
In the digital era, some companies still use outdated methods to track information. But that heightens the potential for human error, threatening to diminish customer satisfaction.
- The company lacked transparency.
Unfortunately, the company didn’t have a clear picture of where its customers stood in the cycle. But by getting a tangible digital record of data, the organization eliminated guesswork thanks to its ability to view end-to-end business operations. No longer did the company have to rely on guesswork—or risk losing paperwork.
Learn how consumer products professionals integrate big data solutions into their day-to-day practices, and discover what other industry executives and data scientists have to say about how you can lead your business into the insight economy—register for Insight 2015 today.