More data than ever is now being created across the world. This can be good or bad, depending on how a company looks at it. Either way, every organization must assess the value of their information and determine how they can properly utilize it. Software professional Joel Dolisy wrote on Data Center Knowledge that this may seem like a difficult task, but with technology like automated data capture, the effort can be made easier.
He gave one example of a company trying to understand customer engagement. All of these interactions may be difficult to collect and tie together initially, but collecting the data and properly warehousing it can be crucial to help integration. Having a centralized location for the data will likely be key to help the business figure out where information is coming from.
“However, as more and more groups within a company rely on a consolidated set of data, IT pros need to implement role-based functionality to ensure data access control,” he said. “For instance, sales or revenue data cannot be readily visible to anyone outside of the sales or finance team. Even within those teams, different people will have a different scope of visibility depending on their position within the hierarchy.”
This is where adoption of a document management solution may come in handy to control the data once it is wrangled in. Adoption of this software from Binary Office in concert with automated data collection can allow businesses to give multiple employees connections. It will also be able to set access so only employees who need to see certain sets of information will have access.
The next step in innovation
The McKinsey Global Institute looked at how data is being utilized across multiple industries and found that many organizations are starting to see the value of using tools like automated data capture to fortify business. Value can be created by making information more transparent across the enterprise, especially due to the ability to measure more variables across departments.
In the near future, McKinsey said use of big data will become a key for businesses that want to stay competitive.
“In most industries, established competitors and new entrants alike will leverage data-driven strategies to innovate, compete, and capture value from deep and up-to-real-time information,” according to McKinsey researchers. “Indeed, we found early examples of such use of data in every sector we examined.”