Data is a digital representation of the world within which people, organizations, inanimate objects, and ideas or concepts live and interact. Anything you can touch or have a thought about, and any event that takes place, can be described in data.
With data, we can understand the world at any given moment. For example, no matter where you are in the world, right this second, you can know exactly which of your customers are in your retail stores and the exact merchandise they are browsing. Or, you can know how fast your teenager is driving down the highway - in your car. Whatever you want to know, data can tell you.
And when we know what’s going on in the world, we can make good decisions on the appropriate action to take - such as how long your teenager will be grounded.
Businesses spend a lot of money to acquire and maintain real-time, comprehensive data so that they always have the most up-to-the-minute view of the world.
But if you don’t immediately get that data in the hands of the people and systems that make decisions with it, then they’ll make decisions based on what happened in the world yesterday rather than right now. This makes make all that valuable data effectively useless.
In other words, you can't make effective business decisions today using yesterday's data. And bad decisions make for bad business results.
EFCO Corporation developed a data replication strategy that ensured decision makers always have the most up-to-date data. You can learn more through this webinar by registering with BrightTalk.
About the Author
Kevin Larsen is the Senior Product Marketing Manager at BackOffice Associates. Over his 25+ year career, he has held positions in Software Development, Business Development, and Product Marketing. Kevin holds a B.A. in Mathematics, an M.S. in Software Engineering, and an M.B.A.More Content by Kevin Larsen