Analytics have long been a staple of the business world. In order for companies to produce items that the consumer really wants and needs, it is necessary for the companies to understand what these wants and needs are. For decades now, marketing specialists have been watching trends, analyzing inventory statistics, and tracking order dates, volume, speed, and distance. All of this information has been packed into creating specific strategies for reaching the customer in personally relevant ways.
This is still the practice of marketing gurus today, but on a much different scale. The analytic process has been merged into what is now called the Big Data movement. The advent of the Internet shopping trend created a much more intense ability to glean information from the consumer. This Big Data can be utilized to create a predictive shopping algorithm for each individual customer.
While the two worlds are similar in purpose and design, Andrew McAfee and Erik Brynjolfsson from the Harvard Business Review have illustrated three key differences in their research. These differences are volume, velocity, and variety. All three of these elements are drastically increased through the use of Internet technology. The amount and type of information that can be collected are being received at an incredible rate of speed. This is all good news for marketing departments, but only if they have the capability to store, organize, and process this information effectively.
Big Data Is Nothing without DMS
There are a lot of great features of document management software (DMS) programs, but one of the most noteworthy benefits when it comes to business strategies is the ability to sort and store incredible amounts of data. Any company utilizing the business magic of Big Data will not get far without proper implementation of DMS programs. The experts at IBM have stated, “Big data is changing the way people within organizations work together. It is creating a culture in which business and IT leaders must join forces to realize value from all data.”
Adopting a DMS program will help your company improve productivity, organization, and communication across the board. The same system that will relieve the HR nightmare of paper filing cabinets is the same program that will allow your marketing informatics to sort and translate all of the incoming data in a meaningful and useful way. In addition to the organization, storage capacity, and speed of these programs, the company and clients will enjoy an added measure of security as well.
Big Data seems to be a bit of an understatement when it comes to the scores of information bits that will come through the system every day. For each client, the system will have to track and organize age, interests, shopping time, balance amount, browsing patterns, and other such things in order to make the right promotional efforts for each customer.
The nature of DMS programs like eFileCabinet is to automatically sort information into groups of this nature. The program will begin to organize everything that comes through in a way that makes sense to users and this can provide a much easier way of analyzing data and statistics. Information management on this scale is vital to making Big Data really work for a company.
The volume of information coming in can be a blessing or a curse depending on how much information can really be stored. Utilizing a DMS program will offer incredible amounts of data storage. The use of cloud technology and virtual centers will create essentially unlimited amounts of space for the data capture the company is hoping and projected to receive.
Speed of Processing
Time is of the essence when it comes to anything in the business sector. This is a world of instant gratification. Everything must move at a rapid pace in order to compete. The speed of data capture and processing with programs like eFileCabinet is insanely high. Instant results are not just possible, but promised. Making use of Big Data requires speed of processing, so this is a program type that is definitely necessarily.
While Big Data is great for producers, it has become worrisome for many consumers. There are a lot of people out there who frankly just don’t feel comfortable with the idea that their personal information and shopping habits are being collected by large corporations. This disconcerted feeling is certainly based on reality when the major recent identity theft issues are considered. So many large companies have had their data bases hacked and a lot of sensitive information has been stolen.
This is another reason to invest in a DMS system. These are much different than the Internet-based storage systems, and can offer dramatically more information privacy than other virtual systems. Companies like eFileCabinet offer DMS programs that come with intricately designed and incredibly stable security measures that will protect the consumer and the company from security issues.