By the year 2020, it is predicted that analogue data will have been phased out entirely and that there will have been a 100-fold multiplication in the digital data connected by an IP address, meaning it could be connected to any other data via the internet.
As the amount of available data increases, so does the potential to see new patterns that was previously not noticeable. However, with such a drastic increase in the amount of data available to us, it becomes much harder to sift through and patterns become more difficult to discern.
Sales optimisation and information gathering tools are providing companies with a flood of new data containing valuable information about the customer base. Effectively analysing this data is a challenge on its own, and all too often one that is overlooked. One ends up with a “dog chasing car” scenario. Once the data has been captured, what do we do with it? Luckily, there are some very handy tools to assist with this dilemma. Investing in a tool that helps organise display this data in a way that is convenient and understandable is just as important as investing in a tool that helps you gather that data.
A good business intelligence tool helps convert masses of data into understandable information that can be accessed easily. Here are a few things to consider when looking at business intelligence (BI) tools. Tools that can help you make sense of your data: