article thumbnail

7 Major IT Infrastructure Challenges for Data-Driven Companies

Smart Data Collective

Big data technology has been a huge gamechanger for countless companies in every sector. Around 60% of companies rely heavily on data analytics technology to meet their goals. However, despite, the many benefits of big data technology, many companies still have difficulty implementing it properly.

article thumbnail

Using Data-Driven Lean Thinking to Optimize Business Processes

Smart Data Collective

Data-driven decision-making has become a major element of modern business. A growing number of businesses use big data technology to optimize efficiency. However, companies that have a formal data strategy are still in the minority. Lean Thinking and Big Data Can Be Merged for Superior Decision-Making.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Data Analytics is Very Valuable for Companies Improving their Cultures

Smart Data Collective

Data analytics technology is rapidly becoming a more integral part of many company cultures. According to the 2021 State of Data Maturity Report, 32% of companies have formal data strategies. Data analytics serves many different purposes. Data analytics can help them bridge that gap.

article thumbnail

What to Look for in a Data-Savvy Fintech Marketing Agency

Smart Data Collective

Big data technology has changed the future of marketing in a multitude of ways. A growing number of organizations are leveraging big data to get higher ROIs from their organic and paid marketing campaigns. As a result, companies around the world spent over $52 billion on data-driven marketing solutions in 2021.

Marketing 137
article thumbnail

6 Tremendous Benefits of Big Data for Financial Management

Smart Data Collective

More companies are investing in big data than ever these days. One survey published on CIO found that less than a third of companies have reported that big data has buy-in from top executives. If you are running a business that has not yet adapted a data strategy, you should keep reading. Making Decisions More Easily.

Big Data 114
article thumbnail

Small Businesses Use Big Data to Offset Risk During Economic Uncertainty

Smart Data Collective

Big data technology used to be a luxury for small business owners. In 2023, big data Is no longer a luxury. One survey from March 2020 showed that 67% of small businesses spend at least $10,000 every year on data analytics technology. Patil and other experts argue that big data can help them with this.

article thumbnail

3 Huge Ways Big Data Analytics Benefits Businesses

Smart Data Collective

Savvy business owners recognize the importance of investing in big data technology. Companies that utilize big data strategically end up having a strong advantage against their competitors. However, despite the benefits big data provides, companies that are using it are in the minority.

Big Data 136