June 27, 2012 // By: Susan Galer
Big Data for SME
It’s no secret that data volumes continue to explode. Or, that analytics software helps companies make sense of what’s going on with their customers today and even the future. However, what many people may not realize is that every company needs to understand and use the data for advantage, regardless of size.
“For companies of all sizes, visibility into not just the past and present, but also the future, powers faster, better decision-making to stay competitive, retain customers, cut costs, and generate new revenue opportunities,” says Emily Mui, Director, Ecosystem & Channels, Solution Marketing.
Small and midsize companies typically use analytics software for standard reporting or siloed customer-facing processes. But real-time, integrated analytic solutions allow them to do much more. The benefits cut across every industry and job function says Mui. Physicians at small hospitals can use dashboards to track disease outbreaks. Decision-makers in marketing can monitor pipelines real-time, exploring ‘what if’ scenarios to anticipate and act quickly for competitive advantage. Marketing can identify customers who are cutting back on purchases and steer them to the right products at the right time and price, in the right channel, to retain them. Finance teams can see aging receivables faster and take action to stay on track. Customer service managers can see the customer’s buy history along with what products are in stock instantly, fulfilling orders faster. Using social media analyses, everyone can mine sites for customer sentiment such as immediate response to product launches, or to head off potential reputation and service issues. For people across the company, reports that once took hours, days or weeks, not only take seconds, but also don’t require IT assistance.