How to use real-time data analysis to grow your business

análisis de datos en tiempo realHave 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

análisis de datos en tiempo realDo you know how to use real-time data analysis? Your company can benefit in many ways in areas such as:

  • 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:

análisis de datos en tiempo realHave a complete view of the customer

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.

Identify changes

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 

análisis de datos en tiempo realCorrecting flaws in operational processes

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!

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