As a growing number of executives in every industry and sector are expected to help make strategic IT decisions, the need for technology in order to gain a competitive advantage is increasing. While technology investments can play a significant role in this, businesses must ensure that the time, money, and energy spent on systems, tools, and infrastructure is properly aligned, so the best return on investment (ROI) can be realized. A commonly asked question is, how can we use technology to strengthen our marketplace edge? With many different technologies available, we’ll cover the most popular today: data discovery, business intelligence, and cloud strategy.
Data discovery is based on direct access to internal, external, and sometimes mixed information. It relies on users being able to plot their own path, without the involvement and hindrance of an IT department. Data discovery tools are very popular today because they extend the capability of individuals to contribute by identifying trends and patterns that lead to valuable new discoveries about the business. It is made even more valuable when you can receive the information in real-time. The proper infrastructure needs to be established not only to perform analysis on your data, but to also make insights available in real-time. This allows for the appropriate actions to be taken before it’s too late.
Business intelligence (BI) on the other hand is a bit different. BI is about deciding where you want to go as an organization and what steps it will take you to get there. It is a mixture of technology and process that allows organizations to determine what is important, create the right measurements, monitor, and make the adjustments needed to steer organizations towards their goals. Success is often the result of the activities that we pursue and BI allows executives to clearly communicate and measure activity and monitor results.
Although they may sound similar, data discovery is not business intelligence. They are related, which causes confusion amongst many. Both can turn raw data into useful information and both help strengthen your competitive advantage. The difference is that data discovery enables insight for individuals with access to live information, whereas business intelligence delivers the same, governed version of truths based on unified objectives and metrics.
So where does your cloud strategy fit into all of this? Cloud computing and cloud storage have both crept into organizations in the form of Amazon Web Services (AWS) and Office 365, as well as file sharing and storage systems. According to Forbes, the benefits include staying ahead of client demand, transforming your culture in a unique way, creating strategic disruption in your competitive marketplace, and unlocking the power of employee connections in your organization. Having the courage to step into this new landscape takes some calculated planning, but the benefits by far outweigh the challenges. The benefits of using cloud strategy come in the form of reduced costs, easy accessibility, minimal downtime, automatic upgrades, scalable capacity, and stronger data security. The answer is simple: evolve your cloud strategy by finding a data discovery tool like Jet Express that offers cloud capabilities. Or better yet, a solution like Jet Enterprise that provides cloud enabled BI and real-time reporting in one package.
By taking advantage of data discovery, business intelligence, and cloud strategy, executives can help turn short-term discoveries into long-term competitive advantage, with accurate data, attributable milestones, and strategic planning to ensure success!