Data analytics is having a profound impact on business development within the current market. Specialists in HR and other business management disciplines believe the ability to extract and utilise information will be a significant contributor to business success going forward.
This applies to all kinds of data, including both public and that which sits internally within a business.
Data is the primary asset within commerce today. Information management, mining, sharing, transferring and storage are driving forces behind ICT procurement.
Businesses in the current marketplace are on a new trajectory. It involves a more in-depth, analytical review of the history of a business to extract relevant data and then collating this data, acquired from various sources, to develop an effective strategy to build the business.
Service providers operating within the Human Resource and business management solution development space believe the management of data will be a game-changer for businesses in 2013.
Accsys is a member of the Business Connexion Group (BCX) and a national supplier of people management software and hardware solutions within the HR, payroll and time & attendance space.
Teryl Schroenn, CEO of Accsys, says the avalanche of information now available and the number of resources and channels through which people can access this information is having a profound impact on the management of business.
“Businesses can no longer be reactive to information reporting and the application of business intelligence, they have to be ahead of the curve. The business history of the organisation, in conjunction with relevant data from the macro environment, which includes big data, provides decision makers with an abundance of information. This can be collated to assist with strategic business growth,” explains Schroenn.
Solutions are available that are designed to extract meaningful Business Intelligence from internal data and present it graphically. Even when information is managed in a distributed infrastructure, it is possible to consolidate centrally and apply it strategically to enhance processes and procedures.
“Today, it is possible and actually preferential to acquire a comprehensive, panoramic view of the business. There is information available from a multitude of sources. While reporting used to be about history, we are now looking at Scenario Planning in the hands of middle management, dashboarding that allows line managers to easily see and understand the areas under their control and information presented in a way that offers decision and business support to business leaders.” Schroenn adds.