Last Updated: July 01, 2021.
Digital technology is intrinsic to the majority of modern businesses, yet a lack of expertise when it comes to their use is costing money.
Forbes highlights the many millions of dollars lost every single year by employees improperly using systems, or, to a lesser degree, not having awareness over the full power of the software systems at their disposal.
Knowing how your software operates and what it brings to your business can require little research; however, with a proper knowledge base in place, you can make huge gains as a business.
A great place to start is in data analysis, a process that can yield useful information without needing to specialize to any great degree.
Benefits of data
Data is king in modern business. With social media a legitimate area in which to market, and customers providing a huge range of data sets with every visit to a website, it’s crucial that businesses harness the information they are provided.
Indeed, one journal published by the Journal of Information & Management highlighted the huge value that big data can provide to businesses with correct analysis. How can that analysis be conducted? Looking at your business management system and its potential benefits is a good place to start.
If your business uses SharePoint for its collation of data, using advanced SharePoint analytics will help you to make proper use of your data – and also drive employee productivity.
Remote working and data collection
The fact that employees are spending greater and greater amounts of time on the computer means bigger and better data sets. VOA News notes that 75 million Americans now work from home and that the resumption of business as usual is unlikely to send them back to the home.
This is a huge opportunity for businesses to use employee data to drive their experience and, from that, productivity.
Productivity management systems can show you when your employees are at their best, and show which tasks attract the highest level of productivity. This can help you to inform a new workplace strategy and improve what your staff is doing.
This data, when collected, can and should drive you towards new software packages. Many businesses find their systems are not bespoke; they aren’t fit-for-purpose.
Collecting and understanding data can help you to specialize in such a way that your next system is exactly what you and your business require to enhance your work and provide better outcomes for customers.
Thinking about what tools and functionalities would improve your overall capability is something that can only be conducted with the right information – in this case, the full spread of data collected from customer and employee activities.
A new system and approach to data collection and processing will provide long-term benefits to your business.
Having a philosophy of smart data usage, even more so. Remember that systems are only temporary – as IT improves and upgrades, new systems are brought in. Having a data-positive ethos, however, will put you in good standing for a much longer period.