Can big data really change the way that people behave? Absolutely!
For the better half of this century, ‘big data’ has proven it’s more than just an industry buzzword. It is the key to unlocking real operational excellence.
One of the greatest challenges companies currently face is turning large amounts of disjointed data into valuable insights that drive actionable outcomes and produces results.
This is becoming increasingly difficult, with many sources predicting that the amount of data has been doubling every two years since 2010; and there’s no signs of it slowing down.
Organisations need to understand which data is important (versus distraction) and then make better use of the data available to them. Leaders who are able to harness the power of big data are able to reap several benefits. Here we discuss five of those.
1) Empowered teams
A big data analytics platform (such as Enlighten’s) combs through the detail of operations to detect patterns that can empower teams to track their KPI’s. Leaders can simply log in and see what’s going on whenever they want, and the same data is shared across all organisation levels. As a result, everybody is aware of the effect their behaviour and actions have on performance in real time, without the need to wait until the end of the month.
2) Agile teams
Big data is the backbone to support teams in their decision-making process. Having access to solid data provides teams with the confidence to swiftly make changes (and even reversing decisions if the numbers are trending in the wrong direction), thereby giving them more agility to respond to the ever-evolving needs of customers and market opportunities.
3) Culture will change from reactive to proactive
Predictive analytics software allows businesses to anticipate and plan resources without responding in a “fire drill” manner. Using data to underpin important conversations allows teams to pre-empt issues and proactively intervene before it is too late. This proactive approach has a positive flow on effect on organisational culture by, for example, avoiding unpleasant and unscheduled overtime for team members.
4) Coordinate projects in a quantifiable way
Predictive analytics helps coordinate projects that have a lot of moving parts because milestones are captured by a wider lens that study historical patterns and unique project elements. This allows teams to estimate the effort and resources required to complete a project, on-time and on-budget.
5) Achieve a true omnichannel experience
In most cases, one consumer channel has additional or different information about the customer than another, leading not only to inefficiencies and inaccuracies but also missed opportunities. Aggregating all customer information and achieving a 360-degree view is only possible with a modern data management platform.
It will connect to all systems, capture the information, match it, then merge big data to build the correct picture.
In summary
There is significant efficiency, reduced costs and more accurate figures to be gained by capitalising on data.
A successful Operational Excellence strategy can be the difference between mediocrity and market leadership. Today, enhancing your Operational Excellence journey with data is neither something you can put off, nor take lightly.
While people are often regarded as one of the hardest resources to leverage, they can also provide incredible returns when given access to the right tools. The tool needed today is data, and the pace of your businesses progress is set by the visibility and access to data that your team has.
