Big data is the new buzz term making its rounds in every executive meeting. Yet, unlike other initiatives, deploying and leveraging it on a regular basis isn’t as simple as saying, “Get it done.”
Australian companies in particular find themselves in a difficult place when it comes to analytics. While 83 per cent of CIOs have plans to incorporate big data in 2017, nearly two-thirds find themselves at the low-end of the digital maturity scale, Telsyte research showed. If it holds true that big data strategies pull information from a number of processes to help with decision making, then the foundation of it all should be an interconnected platform that supports business intelligence collection and reporting.
63 per cent of companies aren’t digitally mature enough for big data.
Identifying shortfalls
Enterprise technology isn’t too dissimilar from the new devices we buy every day. Take smartphones for example: It seems as though with every new model that comes out, something doesn’t work with older versions. Whether it’s the earbuds, charger or casing, the money spent essentially becomes a realised loss.
The same rings true for smart technology – big data in particular. The shortfall of streaming information from one portion of the business to another comes in the form of silos. Simply put, if your structured stock software can’t communicate seamlessly with your accounting platform, it’ll be impossible to gain any sort of insight.
It’s the very reason why so many companies are integrating business management software as a core component of their IT infrastructure. These solutions offer connectivity between key areas of the organisation to facilitate the unfettered flow of information.
Benefits in store
Ideally a company should look for a platform that has the best of both worlds. On the one hand, it needs to automate less labour intensive tasks such as inventory management, bookkeeping and project invoicing. On the other, it should also contain optional modules that can be added on whenever needed.
With Advanced Business Manager’s platform, Alchemex is a powerful business intelligence solution that syncs with the rest of the wp-contentlications installed. Rather than manually exporting data to a spreadsheet or other system, Alchemex pulls real-time information to seamlessly create reports and deliver insights.
The key feature of an add-on like this is that it’s easy to use – a barrier that many CIOs and small business owners struggle with. It handles the complex components of incorporating big data, allowing you to focus on how to implement the insights. Contact an Advanced Business Manager representative today for more information.
