Chat with us, powered by LiveChat

Information on Big Data: Why People Haven’t Adopted Data In Their Business

Information on Big Data:  Why people don’t want to look at data.

Information on Big DataCan I be frank here?  We’ve been told for years now that data is the future, yet SO MANY businesses refuse to embrace it like they should.  I see it left and right in this line of work and I’m realizing that there are a lot of reasons why… and they have nothing to do with numbers.

Data is scary.

Data is confusing, overwhelming, and scary sometimes.  If you’re not a numbers person, data feels literally like someone is speaking Russian to you.  We know it’s confusing.  Let’s just start there with that understanding.  IT. IS. CONFUSING. But that’s why we’re here.  We speak the language of data and we also speak English too.  If you know you need data in your business strategy, a team like ours is great because we’ll help translate the data into digestible chunks that you can actually understand.

Don’t wanna face the music…

Frankly, I think this is one of the biggest reasons why people ignore data analytics for their business:  they simply don’t want to face the music.  They’re scared the data may show that they’ve mismanaged their business or that they could’ve been doing something better. Why are we so scared to name our flaws?  We’ll tell you, we’ve made mistakes along the way, and by knowing our weak spots we’ve been able to improve instead of recycle mistake after mistake.

Cost

Data analytics and business intelligence are definitely investments in your business.  The fact is, up until the last year or two, data was too expensive for most small and mid size companies. While it’s attainable, it’s not going to be dirt cheap, and if someone is offering dirt cheap, I guarantee, you’ll get what you paid for and be paying more in the long run.

Realize this, though, data analytics reports can help you streamline your operation so that you know who to target, where to target, how to eliminate wasteful services, hire smarter, and more.  All of these things can add up to thousands upon thousands of dollars, if not millions of dollars in many situations.  When you consider the potential savings that BI and data services can provide, your original investment usually pays for itself multiple times over.  Don’t let original proposals cloud the anticipated rewards you’ll get over time, not to mention the basic foundations of data collection or organization that you’ll get as a result too.

Pride…AKA Ego

We come across a lot of egos in business, but please, please, please, don’t let your ego get in the way of making smart decisions.  You may think you know your business better than anyone or anything, but we’ve always been able to shed new light with the help of data.  Even those who think they know all find out new insights from doing data analysis within their business.  Business is done very differently today than it was even fifteen years ago.  Don’t let old-school methods of business cloud your judgment to think you don’t need data in your business model.

Too New

While data feels new, it’s really not that new.  Businesses have been utilizing data analytics, BI, data warehousing, and more for years already.  But, within many industries and brackets of businesses, it “feels” very new.  Just like website felt new too twenty-five years ago and now are an essential tool, data “feels” very new but is really an essential tool for your business. Don’t make the mistake of implementing data too late.

I know I probably hit a sore spot for you because most people fall into one, or all, or these reasons.  My heart is truly that business owners understand what they need in order to be successful in business and data is the key to that.  I’d encourage you to recognize your own reasons why you have been hesitant to use data to grow your business.  Recognizing it will help you understand what mindset shifts need to happen in order to be successful working with a data analytics company or BI solutions company.

Data Analytics For Denver Business

Why Denver Businesses Should Care About Data | Spotlight on Data Analytics For Denver Business

Data Analytics For Denver BusinessData Analytics For Denver Business & Startups

You may not realize it now, but you will…and soon.  Business intelligence is going to be a crucial thing for businesses within the next few years.  The reality is that business intelligence is already vital for businesses, but as with most new things, businesses haven’t all caught on.  We’re seeing this already locally: business intelligence in Denver CO is vital for the growing number of startups and tech-based businesses that are popping up.  The competition is fierce and there is no room for failure.

If you want to stay competitive, your business simply MUST be employing business intelligence and data analytics in your planning strategy.

What is Business Intelligence?

Business Intelligence is a broad term that applies to the software applications used to analyze raw data, data mining, analytical processing, querying and reporting.  There are immense amounts of data available today, and a business that can organize that data in a meaningful way can leverage their business above the competition.

Why Is Business Intelligence Important for Denver Businesses?

Denver is a prime example of why businesses need business intelligence and data powering their business.  Denver has been ranked as a top spot for entrepreneurs and startups by publications like Kiplingers, Nerdwallet, CNBC, and more.  The tech startup scene is alive and thriving.  New ideas are thriving and being promoted left and right.

With all of this new business and great energy, there are huge opportunities to start a business off right.  Data can help inform if an idea has viability and a future.  Data can also help a startup track and measure their growth. The best part is that these newer businesses can start from day #1 and have a comprehensive business approach with data. This is something most businesses cannot say because data was an afterthought and implemented later on in the business.

Data Is Not Just For Denver.

We’re based here in Denver and provide business intelligence solutions for businesses in Denver, so we have a keen vantage point to see the fun energy here.  But, we work with businesses all over the country, and even internationally.  We’re seeing the surge of businesses here locally rising from nothing to a booming company and all with the power of data.  The reality is that ALL businesses need a data plan, and if you don’t realize it and start now, your business WILL be left behind within a few years.