The 2020 Mid-Year Economic Update_long

Tip: Simplify Data Strategies to Reap Analytics Rewards

The possibilities that analytics has to offer can be overwhelming. As a result, it can be a challenge to organize big data in meaningful ways.
Kristen-Gawalis-MDMBlog

The possibilities that analytics has to offer can be overwhelming.  As a result, it can be a challenge to organize big data in meaningful ways. In a recent article for Harvard Business Review, Narenda Mulani suggests companies simplify by:

Accelerate the data. Using a combination of emerging technologies, companies can develop a supply chain for data. The faster data is collected, the sooner it can be analyzed.

Delegate the work to your analytics technologies. According to Mulani, next-gen business intelligence and data visualization bring data and analytics to life to help companies improve and optimize their decision-making and organizational performance. She also suggests focusing on data discovery, analytics applications and machine learning and cognitive computing.

Recognize that each path to data insight is unique. Companies can search for patterns in data to find data insights. Others may pilot and test solutions based on current needs for analytics.

Big data doesn’t need to be intimidating or overwhelming. Keep your strategies as simple as possible to help manage your highest priorities. 

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.