Data Science

Five ways data is driving the companies of the future

Five ways data is driving the companies of the future

Data surrounds us. It’s everywhere. The intriguing thing is, we’re only just starting to discover the power of data capture and learning how to use it to deconstruct our world.

Analyzing data can offer tremendous insights into otherwise mysterious processes – everything from micro applications like why one department outperforms another to the macro application of data capture in manufacturing, monitoring every stage of a production process.

The dictionary definition of data is “facts and statistics collected together for reference or analysis” in other words, data is generated by everything. In turn, data analysis can be applied to anything.

By increasing our understanding of when, where, and how we work most productively, we can remove wastage and improve overall output in all areas of business.Though the applications of data-analysis are limitless, here are just five ways it is driving the companies of the future.

Software usage monitoring

It’s estimated that around 93% of companies currently pay for software that is seldom used by their employees. This generates huge wastage on the part of the organization – money that could be used far more constructively elsewhere.

Application monitoring systems can be used to determine exactly how long your employees are spending in each app – and can establish the relative productivity of each app.

You wouldn’tcontinue to pay for redundant software on your home PC. There’s no reason why you should in business either.

Hours of productivity

Staff monitoring applications can be used to determine employees’ most productive work hours. These technologies can be rolled out across departments to ascertain productivity levels throughout the day.

With the rise in homeworking due to Coronavirus, the use of this type of staff monitoring technology is likely to become common in the future. It’s even beneficial from an employee perspective, by allowing them to recognize periods of downtime and find ways to improve their work habits.

Big data in manufacturing

By capturing big data in manufacturing, companies can identify issues before they even occur and answer questions that haven’t even been asked yet. Big data in manufacturing ensures productivity while mitigating/removing waste. It can be applied across the board.

Specialist companies like TruQC can offer bespoke, tailored monitoring systems built to your specific industry sector.

Working out who most deserves a promotion

As every good boss knows, the time spent by an employee at a desk does not necessarily translate into that time being productive. Employee monitoring systems allow businesses to identify the correlation between the time spent on tasks and the amount of work completed, giving an accurate picture of an employee’s yield.

Employers often find the idea of promoting one member of staff above another challenging; however, if backed up by actual data, the task becomes considerably easier and can be justified to other members of the team as well as management.

Data in marketing

Commerce is moving increasingly online, and your company website is more important today than ever. That said, you can have the best-looking website in the world but, if it’s not generating business, it’s not bringing any tangible benefit to your company.

Website monitoring software can give unrivaled insight into the success of your online marketing campaigns and lets you see the relative effectiveness of your promotions. Data-collection and analysis are used in all areas of online marketing – from understanding your customers better to seeing the impact of your advertising.

The use of data to increase productivity is still in its infancy, and our understanding grows by the day. The increasing prevalence of the Internet of Things (where data can be captured from multiple sources and combined to give a greater overall picture/improve processes) is revealing even more trends and insights that can be used to streamline your company.

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