Our modern lives have been built on the back of unwavering certainty. Steam engines allowed us to spread out, trade, and communicate across vast distances. Modern medicine is built on guaranteed biological reactions within us. That’s the kind of definitive cause and effect we’re finding in big data and data analysis. Couple that with the computational prowess of machine learning, capable of sifting through billions of business variables in seconds, and suddenly you have a resource that is not simply additive, but multiplicative, and free to shift and scale according to any demand.
Business Driven Data/Data Driven Business
A company is comprised of every decision made at every level by management and staff. We can only make decisions based on the information we digest, and in the past the direction of a business was driven by obvious bits of information that most people could interpret. 10,000 products sold is an effective indicator that there’s a market for that product, but what about the unseen, mercurial undercurrents that drive a consumer economy? That’s what a data driven business model employs to insure success and profit. With data, you don’t have to take a single step without knowing the ground on which it will land.
The Internet of Things and Data For Customers
Computers are a part of everything now, and everything is communicating. We’re able to draw statistics about how products are being used by utilizing consumer input. The context of this usage can be extracted to form a perfect picture of a consumer’s relationship with a product. It’s not just for the business, either, because making select information available to your consumer enriches their experience with a product or service. Examples of this include exercise watches that track your progress and shows how you compare to other users, and a streaming service that makes suggestions based on what others with similar viewing histories also watched.
Information, Learn Thyself
The most world-changing aspect of data is its ability to build on itself by way of machine learning and automation. With little input from the user, systems can gather, sort, and interpret data at speeds and in ways that a human could never fathom. With the inclusion of products capable of obtaining data by themselves, what we find is that a well-nurtured, but more hands-off approach to data is becoming increasingly prevalent. To put it simply, it’s the difference between picking fruit and planting a seed.
One Size Fits All
Data is flexible, too. Data analysis can be a panorama or a microscope, depending on business needs. A small company cannot afford to miss any scrap of usable information, like recurring complaints, common user issues, or simply what color of product consumers in a particular region are more likely to take home with them. Likewise, a large company receives such an incredible amount of information that interpreting patterns and trends from this chaos is the only way this company can stay mobile and ensure growth.
The beauty of data is not from form, but function. The form that data takes is increasingly massive heaps, growing into mountains, of information that make increasingly less sense to decision makers concerned with the broad, immediate path. The function, however, is an assured honesty, an empirical statement that can be the answer to any question a business may have. That’s what makes data beautiful.
There’s so many sides of data, so many angles from which to extract, and this only grows with our ability to collect it. Every day at amshot we are devising new ways to make this process seamless for the end user, be it business or consumer. Get in touch with us and start your way down the certain path that data can lay before you. Give us a call at (405) 418-6282 or send an email to firstname.lastname@example.org for a free consultation.