There is a lot of talk about the value of big data and using volumes of data to drive business growth. However, there is a dark side to having too much data – data overload. Big data can be confusing, misconstrued, and send your business in unexpected directions. Here’s what you need to do in order to keep from drowning in a sea of data.
Businesses are increasingly interested in harnessing the power of big data and are investing in both the technology and the talented people to make it work. One of challenges with this desire for big data is discussed in “4 Steps to Navigate the Rough Waters of Information Overload,” posted by Jeff Boss on Entrepreneur.com, which is there can be too much of a good thing. Too much data can be confusing, difficult to sort out and analyze, and can lead businesses in the wrong direction. Boss points out several tips for keeping big data under control such a:s stay focused on your objective, collect relevant data, question the source, and put your theory to the test before running with it. These are all important and relevant tips for managing big data and here is one more: make sure you have the right technology in place.
An integrated enterprise resource planning (ERP) solution, such as Microsoft Dynamics® GP, can streamline data-entry, data-sharing, and analysis so that you can make the strategic business decisions that drive growth. You can manage all of your business data within this single solution including financials, supply chain and inventory, manufacturing and distribution operations, and human resources and payroll data. You can access pertinent, accurate data quicker and easier when it’s located within a centralized location. In addition, Microsoft Dynamics GP offers business intelligence that you can use to make sense of your data. You can monitor inventory usage, sales trends or customer buying habits, and financials in order to determine which products are more profitable than others or which are increasing in popularity with your customers. This insight can be used to make strategic procurement decisions, schedule production activities, and organize marketing campaigns that deliver results.
Businesses can leverage big data to their advantage with the right tools. Contact Sherwood Systems for more information about controlling big data and preventing data overload with ERP.