Big Data Turns Actionable With Data Analytics
Data is growing faster than ever before. Digital data is increasing at a rapid pace, doubling every two years. A recently published article by Forbes stated that data is growing faster than ever before and by the year 2020, about 1.7 megabytes of new information will be created every second by every person. The manufacturing industry is going through a digital transformation and one of the key elements that is playing a role is Big Data. Big Data refers to large volumes of data that can’t be processed effectively with the traditional applications that exist. The processing of Big Data begins with the raw data that isn’t aggregated and is most often impossible to store in the memory of a single device. Big data is a buzzword that is used to describe immense volumes of data, both unstructured and structured that inundates organizations daily. Big Data is something that can be used to analyze insights which can lead to better strategic business decisions.
Taking all the raw data and turning it into usable data is called data analytics. Data analytics is the science of examining raw data with the purpose of drawing conclusions about that information. It also involves applying an algorithmic or mechanical process to derive insights. Data analytics has changed over the years, just as big data has. As the volume of big data continues to grow, the demands that are put on data analytics continue to grow. Organizations want their data analyzed quickly and effectively, and the more data they pile on, the more sophisticated the data analytics needs to be.
Most manufacturing organizations rely on ERP systems as the central part of their business. Epicor rolled out data analytics as part of their ERP software several versions ago. But we continue to see improvements with every new versions they roll-out. Epicor ERP systems give a business the way to collect their big data and then gives them the data analytics needed to make quick, effective business decisions based on this data. There are other software programs that offer data analytics as well. It is up to your business to decide what best fits your needs. 2W Tech is a Certified Epicor ERP Partner, as well as a full service IT Consulting Firm. Give us a call today to discuss how your business is using big data and data analytics.
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