In the lifespan of the modern business environment, we have reached a tipping point when it comes to organizations utilizing data analytics. These solutions can no longer simply be thought of as mere buzzwords of the corporate world, concepts adopted to foster an appearance of cutting-edge practice within a firm. They are core tools. But just because an organization – yours, perhaps – puts its data to use doesn't mean the information is being applied nearly as effectively as it could be.
"Just because an organization possesses aggregated data doesn't mean that data is being appropriately leveraged."
Ask yourself: How well is your organization leveraging the data it has aggregated? Is it able to use this tool for the betterment of essential processes, or is it ultimately making things ultimately more complicated? Today, we'll take a closer look at the general state of corporate analytics usage, designed to give you a sense of how you stack up. And if you think you've found room for improvement, it might be wise to take a long look at the capabilities and benefits of AppWright's business process management solution.
The ubiquitous presence of big data in the workplace
According to the 2015 Worldwide Semiannual Big Data and Analytics Spending Guide compiled by the International Data Corporation, professional services, government, discrete manufacturing, banking and process manufacturing account for about 50 percent of the significant data usage among businesses. These fields are among the primary drivers of the 11.7 percent compounded annual growth rate IDC predicted for the big data market. That said, retail and wholesale trade, construction, transportation, health care education, media and telecommunications also make significant use of these solutions.
The common uses – and shortfalls – of corporate data usage
HR solutions expert Eva Wislow, writing a guest post for CakeHR, identified talent acquisition, employee performance monitoring, retention, marketing and future planning as some of data analytics' most prominent workplace applications.
Interestingly, discussion of business process management is not to be found in Wislow's piece. And of the other functions she mentions – employee health and benefit monitoring, payroll calculations and training – in addition to those noted above, only future planning really involves collecting and applying the data used in process management, such as employee schedules, current project files, key performance indicators from past endeavors and other historical information of that nature.
Looking hard at your own organization
Now that we have taken note of the "who" and the "how" regarding big data's role in the workplace, the time comes to assess how well your own organization applies its data. An excellent way to go about such an examination is to center it around a process your firm initiates and completes on a regular basis. The specifics don't necessarily matter. It could be order fulfillment, creating a piece of content according to an established template, overseeing an automated manufacturing process – the list could go on.
What you have to determine is whether the data you collect serves a precise purpose. Otherwise, it ends up simply being the analytics version of empty calories – what is sometimes referred to by data experts as "digital exhaust." Examples of this must sometimes be identified at a project-management level: For example, are you conducting the majority of discussions surrounding a given process in an email thread but have team members making key decisions in Google Hangouts or other instant messaging platforms? Or is a project overseen by two managers having its essential files saved in different formats?
Situations like those – and countless others – are where AppWright's BPM solution truly shines. Through the use of templates designed to fit a wide variety of different recurring company tasks, our software collects data from disparate sources and streamlines it according to your organizational priorities regardless of format or source. Contact us if you're ready to learn more!