How Data can help improve your business

How data can help improve your business

Many businesses generate huge amounts of data in their day to day activities; but this data can just lie around unused as the business focuses on day to day survival. The data can be from all areas of the business from Logistics to Finance and Sales to Procurement the data is there but the business needs to use it properly.

Data can be used more than just a sales tool, but it can become an operational tool for every area of the business increasing efficiency, sales, production, staff retention, in fact every area of the business.

If businesses look beyond the common uses of data, the company can open up to more adaptive and agile ways of working. When data is collected and analysed from every area of the business by applying metrics and dashboards, you can use the data to help innovate. When you utilize consumer footfall, site hits and enquiry in your dashboards you can see the relationship between these figures conversion stats and profit forecasts. When you use data to analyze where you’re losing sales statistics, you can turn lead conversion stats into profit forecasts. When you use data to analyze where you’re losing profit and productivity, you improve your operational efficiency.

how data can improve your company

The scale of data growth has reached astounding levels, but are you growing with this incredible resource or letting it pass you by, there are number of tips to ensure your business handles this data efficiently:

• Don’t scale up your servers.

While some businesses may be tempted to replace older server with new more powerful ones, this will probably not be the most efficient use of business resources. The cost of new servers can start at £thousands but run into the £hundreds of thousands or even £millions depending on the size of your organisation.

• Instead of buying expensive hardware deploy cloud servers.

The servers will not be purchased by your business, which has the possibility of saving your business £thousands or even £millions, the servers will reside on a shared “virtualized” or “cloud” environment managed by another provider.

• Don’t Buy Expensive Software

Instead of buying or licensing expensive software, you could deploy software that is housed in a “virtualized” or “cloud” environment saving you money. This “data virtualization” allows a software application or applications to retrieve and manipulate data that is based in the “virtualized” or “cloud” environment. What this basically means is that the business doesn’t need to know the technical details of how the data is formatted in the “virtualized” environment to use and manipulate their data.

•Look at cloud based applications

There are a number of cloud based applications on the market that will allow the business to capture, support and analyze their data in a “virtualized” or “cloud” environment. This has the benefits of saving the business money on servers and software.  One of these solutions is the IDBS  E-WorkBook Cloud.  IDBS.com offers a complete end-to-end, cloud-based, research and development platform that supports all your internal, external and hybrid data management and research needs.  By combining the very best functionality of lab-based informatics solutions (ELN, LIMS, LES, SDMS & more) The E-WorkBook Cloud goes beyond traditional lab management software, providing cutting-edge data capture and analysis tools, job requesting and management, inventory management, and biology and chemistry functionality.

Nurturing Data

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