The Biz-Insider Newsletter March/April 2014, features the following: an Editorial from Teresa Hooper that offers insight on Big Data, an in-depth article on the Benefits of SaaS, some hints and tips on using favourites in the Greentree menu tree and a look at Social Media. Here’s an introduction to the Editorial from Teresa:
With the Budget’s release there is no doubt it will have impact on both individuals and businesses and with the financial year end closing upon us it is an appropriate time of the year to review your systems and ensure they are providing all the necessary information/data required to make those business decisions. We hear about Big Data all the time with an estimate of around 2.5 quintillion bytes of data everyday which leverages the question what data is truly important to you and your business. So here are some of my thoughts to share with you:-
- Big Data has a tendency to scare small business – it is not the amount of data but identifying the key areas to report upon that makes a difference to your business.
- The data has to be presented in a precise easy format to read and interpret but don’t get hung up on how “pretty” it looks .
- The data has to be easily obtained and collated.
- The analytics behind the data interpretation needs to be sound and relevant to that industry.
- How often do you need this data – daily, weekly, monthly, etc. Be careful of information overload whereby you receive too much data to be anything with the data – back to relevance.
- Data is not just the financial numbers – both qualitative and quantitative data is important – all those videos we watch on Facebook and YouTube – are being constantly scrutinized to determine patterns, on our likes and dislikes which in turn drives products and services to our door and our email boxes.
- Data can drive your business to improve the sales and bottom lines.
- Data can also drive cost constraints when required….