One thing for sure: modern society gathers and stores more data per second than just one generation prior did in a lifetime.
A generation ago, none of the following were commonplace:
- Cellular tracking and storage of your every call, text message etc.
- Instant Messaging and Social Media (just imagine what they are tracking, storing and using).
- GPS tracking and storage of your last several trips.
- Pedometers and other health-related self-monitoring tracking and storage devices.
- Credit/debit card tracking and storage of every transaction detail feeding mass marketing, credit and collection systems.
- Public WiFi connection and duration tracking and storage. The city of Philadelphia boasts free and extensive coverage, adding additional coverage and sites based on usage tracking and storage. They are not alone.
- The Internet, to a level of personal reconnaissance that you can’t believe.
- Google, mapping the world and storing every bit of data they can get their hands on.
- Automotive internal computers tracking and storage systems related to maintenance, driving habits, equipment malfunctions–and yes, insurance-related data up to the point of impact.
- Auto Service Centers–they also suck your onboard computer dry and store vast amounts of data about your personal driving habits, maintenance schedules and repair work.
- And airplane black boxes and reservation centers and travel and vacation planners and big box stores (who, when, where and how often) and e-books and DVRs and personal computers, and my all time favorite, cookies that you can’t eat, etc., etc., etc. Wow!
It is simply mind-blowing how many bits of data are stored worldwide.
For what purpose is all this data stored? We all know the answer: for the information derived from the data and more importantly, for the ability to make fact-based decisions from this data.
This converting of a huge volume of data into real information drives world economies and international politics, and shapes consumer habits. That is how the world uses data.
How about your business?
If you are not converting your business data into real actionable information then what drives and shapes your company’s direction?
Most ERP systems are great at gathering and storing the mundane transactional data that keeps your business going on a daily basis. Exceptional systems like the Spitfire Project Management System go the extra step of converting the data into actionable information. These systems incorporate tools like Key Performance Indicators, Supplemental Workbooks, Business Intelligence, and Business Analytics to convert and present information in a consumable format.
Are you truly exploiting the ERP system’s investment and the huge cost of data gathering? Is your staff empowered to leverage this huge wealth of information to improve efficiency and margins? If not, it may be time to think beyond the data.Tweet