InformationWeek’s Imre Kabai detailed how businesses can begin to realize the true value of data once they are able to make good, smart decisions off of it.
“To discover, generate, store, protect, mash up, analyze, distribute and retire information, we use technologies to manage the information lifecycle. Notice that we just defined information technology,” Kabai wrote. He later added, “By opening up and sharing some of their information, companies can create rich external ecosystems that process and mash information from various sources to unlock its hidden value. This sharing can be very beneficial to the source of the information too.”
Cloud-based online database software enable business users to easily and efficiently share information in order to make more concrete, well-informed decisions. In a recent article, The Drum gathered insight from a industry cross-section on the significant challenges to expect the sector to face in 2013.
One industry pro, Decibel Analytics CEO Ben Harris, noted that he expects understanding the value of content will be the biggest challenge this year. Harris explained that if a business assign a value to each piece of content and call to action on its website, then it can use an online database to draw conclusions from website activity. Through the use of analytics, a company will be able to adapt its brand image by creating and improving content and media type. Using an analytic approach, an organization can make the changes that lead to better page performance, an increase in leads and conversion rates.