Big Data – analysing data from any source to provide direction to your business
Data is a valuable asset, and its value is realised when it’s manipulated to drive a project or business but how does a company access and use its internal data to drive strategic decisions?
When we look at big data and analytics, the industry can predict the type of data we need to look at and why. In the utility sector, we can use masses of data that streams from devices such as smart meters and bring that data into a platform and database. We can also apply this approach to the retail industry, using data that comes from Point of Sales (POS) systems and compare sales to promotional campaigns – and analyse how these campaigns impact sales. We can also marry the POS data with the big data that comes from social media, to track customer sentiment to provide more insight into sales.
There is more to social media than meets the eye and by looking at the likes of Twitter and other social media data, we can give it meaning and context – and marry that data with other big data or with data that is coming into the enterprise whether it be for example financial or sales data.
At a large utility company, we provided analysis of billing data from SAP and combined this data with externally sourced household information and temperature data to analyse and compare energy usage for their customers across different parameters. It enabled the large utility provider to measure and heat map customer’s energy consumption across different postcodes, property types and to solve a basic business problem – giving them a tool that they can take to customers to give them insight into their energy usage across these parameters.
The Internet of Things will increase data
The IT industry has provided a number of estimates regarding the quantity of IoT devices that will be in use by 2020 and these range from 20 – 50 billion. As a consequence, the amount of data we create and copy annually will reach 44 trillion gigabytes, according to a report by IDC – The Digital Universe of Opportunities.
With more information available than ever before – held in varying formats – how can these valuable statistics be translated into something more meaningful to drive business value?
Giving your data meaning
Traditional ERP systems of record locked up data in silos with strong governance in place to protect this data – managing sensitive information, such as customer, employee, product and financial data and the traditional BI landscape was mostly an extension of this and evolved in a similar way by securing data in silos.
In today’s business context, users are screaming for the data locked in these silos to be unleashed to expose business value. Furthermore, merging this data with data from outside of the enterprise gives the information substantial value and more meaning.
SAP has responded to this challenge and provides the business tools and a platform for data liberalisation. Through HANA for example, enterprise data can be processed and analysed with lightning speed to allow for more sophisticated analytics.
Text analysis for extracting sentiment from social data along with looking at online buyer behaviour allows for greater targeting of and engagement with customers. Giving insightful meaning to data therefore gives a greater ability to respond to business challenges.
Key benefits – why choose Keytree
Reducing hardware costs is always a great advantage but providing the user with more insight into their organisation will provide more value – companies can run their business more efficiently, with Immediate access to data, and real-time decisions made on real-time data.
Keytree has the dedicated experience in all the key areas needed to build robust analytics – strong implementation in ERP analytics, robust data warehousing, analytics tools and our user experience team. Our UX team provide a unique design offering with a strong creative ethos – we provide the nuts and bolts on the backend and everything needed for the frontend.
Our working knowledge in building data warehouses and determining how to store data in warehouses, alongside our experience of working with big brands allow us to understand and fill any gaps from what SAP can give – we can bring in the missing bits of the puzzle.