Have you evaluated how your business is using real-time data analysis? It is estimated that every second of the year 2020, generates around 1.7 megabytes for each human on the planet according to Bernard Marr, author, and renowned business and technology consultant. In addition, 75% of companies lose business opportunities by not getting or analyzing data in real-time.
It is clear that companies that do not adopt Big Data solutions will lose competitiveness in the medium term. And if you are already receiving great amounts of data in real-time from corporate webpages, social media, marketing campaigns, HR, ERP, CRM platforms among others, why not take advantage of them?
This data may offer organizations valuable information about the market, customers, competition, internal performance, among other things.
Real-time data Analysis: most useful applications
- Sales and marketing
- Customer relations
- Inventory Management
- Accounting and finance management
- Logistic and operation processes
- Internet of things monitoring (IoT)
Benefits of real-time data analysis
Real-time data analysis allows managers to discover valuable information at the time it occurs, which helps to act quickly and make appropriate decisions. This brings different opportunities for growth that translate into different benefits:
You will be able to determine which is the customer’s preferred medium to interact with the company, as well as what are their needs and problems. This data will allow you to give them a more personalized service, offering them the solutions they need.
Changes may occur in the market that may decrease or increase the demand for a product or service. Knowing this information immediately will help you make more appropriate decisions for the business.
More agile processes
Information management programs can collect data that is ready for analysis. This will optimize the time of employees, because they will not have to invest hours in creating extensive reports. In this way, they will have time available to devote to other more productive activities for the company
Supervising the operational, accounting, and financial process in real-time, among others, allows to identify deviations and flaws that can generate serious problems with providers, employees, clients, and partners. Detecting it in time corrects the problem and prevents it from being carried over to the final stage.
Real-time data analysis for business growth
If you want to accelerate the performance of your business you can use NetSuite, an ERP solution on the cloud designed to grow at the rhythm of businesses and optimize their essential processes to take advantage of opportunities. With this software, you can combine data with visual analysis and therefore generate a more accurate approach to your business. Are you interested? At Fusionworks we can help you implement it. Contact us!