Your offices and even your homes are becoming smarter with the ever-growing number of devices. These devices are collecting and analysing data about you. Refer to “The Internet of Things”.
Think of all the data generated daily in your business.
Your financial system, customer relationship management system, inventory control system, employee system, content management systems and management system. And as the future unfolds, “The Internet of Things” will help improve everything that needs analysing.
You are not only generating much more data today. But your ability and capacity to harness and analyse this data can improve massively. You can now analyse large volumes of information and knowledge in and around your business from different sources. It allows you to gain insights into your business that were impossible just a couple of years ago.
Analytics are already used widely in business, but nowhere near as much as possible in most cases. Google Analytics is one example of how to analyse your website. Google Analytics has probably done more than anyone to introduce analytics to smaller businesses.
Create a simple plan starting with clear objectives, strategies and actions, which answers these questions
- Why do you need to analyse your information and knowledge?
- Start by analysing your value chain as the best value chain usually wins.
- What information and knowledge does your business need?
- Which areas of the business would useful insights be valuable?
- What information and knowledge don’t you have?
- How do you gather the information and knowledge you need?
- How will you categorise and sort the information and knowledge you gather?
- What technology can you utilise to gather and store information and knowledge?
- How can you make your current information and knowledge more user-friendly?
- How will you place the correct information and knowledge into the right hands, which will be most helpful?
“If you realised the power of analysis, you would never think of a negative solution”. Peter Sergeant
“Correctly identify the problem through analysis and deliver inspired outcomes”. Peter Sergeant