29 Oct Report Cards are In!
Report Cards are in! Data gets an A+
It’s that time of year again boys and girls. Report Cards are coming home and there are many nervous undergrads frantically trying to turn those D’s & F’s into A’s so they don’t have to spend their summer repeating Econ…….. again. The same thing is happening for a lot of enterprises as well. One subject that a lot of these companies are receiving too many poor marks in is data management and analytics. And unfortunately, there is no extra credit or summer school in the real world, just stock price failure!
Let’s Have a Quick Lesson on Data.
Quick, before you flunk out and end up in mom and dad’s basement, let’s brush up on some lessons. Take a minute and learn about the basics of data. For those of us entering Intro to Data-data is information generated anytime anyone does ANYTHING online. IBM 2017 report says “90% of the data in the world today has been created in the last two years alone, at 2.5 quintillion bytes of data a day!”. Imagine all of the important and valuable insights that companies could learn if they could just properly collect and harness all that data.
Most of us know by this point that the big internet giants use all of our consumer data to target ads (how do they know I was just talking about needing paper towels, Alexa). By this point, I am sure hope that most of us know about our personal data and how to reasonably protect it online. Data breaches and hacks seem to be in the news weekly. While many companies use effectively use data to serve up ads and every CEO wakes up at night in cold sweats having nightmares about customers personal data be comprised, there is a third type of valuable data that many companies are just not effectively leveraging: transactional data.
Data Management-Magna Cum Laude Style
Many companies have already started to see the value in automating both complex and everyday processes. They have either made the commitment to these changes or they are actively automating processes. But many of these companies simply stop at process automation. They see work has become more efficient, money and time has been saved, investors are happy and raises/bonuses have been given. This might get executives through Fall semester but too many of them don’t seem to know what the real benefit of automation is!
Every step of automation generates tons of valuable transactional data. This could be first level data like tracking & identifying a who is the bottleneck in a procurement process. Or it could offer deep, game changing insights that could companies: produce more revenue, hire better people, truly understand customer needs or make improved and more informed financial decisions. That is Data Management with Honors!
We all know that great performance (whether at work or in the classroom) starts with making the right choices. Choosing the right Automation Platform can be the difference between project success and complete failure. Being able to capture and store all of the valuable data generated by your corporate processes and generating relevant insights that can improve operations is the most valuable portion of any IT project. With FORMVERSE, you can make the most out of your company’s data that is constantly being generated, instead of just paying to store it and letting it go to waste.
Final Marks
Automating your manual processes will help you make it to next semester but If you really want to make mom and dad proud, take control of all that data you generate. FORMVERSE can help you earn the “automation A” you are looking for by structuring and collecting ALL data that is produced during your automation project and giving you the understanding needed to receive high marks from investors.