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Capitalizing on IoT Data: The Golden Rule for Data Success

  • Capitalizing on IoT Data: The Golden Rule for Data Success-

    Operationalize

    Now, give everyone the power to see clearly. The value of data is made greater by the number of people who have access to it. Don't limit data access to the C-suite, business analysts and managers. Extend your data ecosystem to the front line by equipping every employee to make data-driven decisions on the job.

    Note: One mistake that organizations often make is providing analytical tools – essentially a blank slate – that can seem overwhelming to business users with little or no experience in analyzing data. Tools can provide quick answers to operational questions, but BI and analytics adoption is still only typically 22 percent. To truly operationalize insights, a BI strategy should include the implementation of a comprehensive environment that delivers insight, but also goes one step further by empowering users to act on that insight to create impact. One way this can be accomplished is through the use of precise, super-focused BI apps and content that enable continuous monitoring of key metrics and indicators.

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Capitalizing on IoT Data: The Golden Rule for Data Success

  • 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9
  • Capitalizing on IoT Data: The Golden Rule for Data Success-6

    Operationalize

    Now, give everyone the power to see clearly. The value of data is made greater by the number of people who have access to it. Don't limit data access to the C-suite, business analysts and managers. Extend your data ecosystem to the front line by equipping every employee to make data-driven decisions on the job.

    Note: One mistake that organizations often make is providing analytical tools – essentially a blank slate – that can seem overwhelming to business users with little or no experience in analyzing data. Tools can provide quick answers to operational questions, but BI and analytics adoption is still only typically 22 percent. To truly operationalize insights, a BI strategy should include the implementation of a comprehensive environment that delivers insight, but also goes one step further by empowering users to act on that insight to create impact. One way this can be accomplished is through the use of precise, super-focused BI apps and content that enable continuous monitoring of key metrics and indicators.

Gartner estimates that by 2020 more than 50 percent of major new business processes and systems will incorporate the IoT and that there will be more than 35 billion things connected to the internet. The connected enterprise has tremendous business potential; by mining IoT data, organizations can identify new ways to drive operational efficiencies, capture new revenue opportunities and improve the customer experience. However, companies must ensure that their information management strategy can support the data deluge fueled in part by the IoT and other emerging innovations.

The ramifications of an incomplete or poorly executed business intelligence program can cripple even the most successful of organizations – running the gamut from inadequate customer care and inaccurate operational insights, to business-critical errors impacting the C-suite.

The key to truly capitalizing on IoT data is a well-established, integrated information management strategy. In this slideshow, Information Builders shares four considerations underpinning the "golden rule" for data analytics success – harmonize, visualize, operationalize and monetize – as well as tips for avoiding common missteps.