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It's All In The Numbers - Why has Data Become So Valuable For Every Business?

It’s now over 15 years since mathematician Clive Humby coined the phrase “data is the new oil”, and in the process, sparked a debate that continues to this day about where its value truly lies.

While there’s no doubt that organisations the world over owe their success to the insight inherent in complex datasets, to many others, data remains a largely untapped resource.

The likes of Google, Amazon and Apple (among many others) collect and analyse information from a myriad of data sources. In doing so, businesses like these can spot trends, identify opportunities, risks and understand the nuances of customer behaviour to create better strategies.

In short, organisations that focus on their data on a granular level are much better placed to take the guesswork and risk out of both routine and complex decisions. What’s more, these organisations then design and deliver software solutions that transform their productivity, ability to innovate and the way they understand the world.

 

 

Insight For Everyone

Where many organisations fall short, however, is assuming that data-led software projects are ‘big ticket’ items that only those massive brands can afford or understand. As a result, they don’t engage with the opportunity to create value from their data.

While that might have been true when Humby was writing about data back in 2006, the ability of businesses like IJYI to help organisations of every size and in every sector analyse and exploit the insight that sits within datasets has vastly improved in recent years.

For example, the emergence of powerful and affordable cloud infrastructure has provided every business with the ability to exploit their data to its fullest extent. As a Microsoft Gold Partner in Data Platform, Application Development, DevOps, Data Analytics and Silver in Cloud Platform, we use and recommend the Microsoft Power Platform across our Data Services portfolio to deliver the data visualisation capabilities clients need.

 

 

Across both public and private sectors, we use solutions like these to work collaboratively with clients to define the scope of their data projects, address their challenges and embrace new opportunities.

Our experienced, flexible team is able to work with client organisations to understand even the most complex requirements, systems and data availability. Using Agile methodologies, we adopt a rapid prototyping approach to software development that enables clients to understand the scope and quality of their datasets and how to focus on deliverable improvement.

Becoming data-driven is fast becoming an organisational imperative. Whether the focus is on public services that need to improve their efficiency and impact or businesses seeking competitive advantage, it increasingly represents the difference between success and failure.

To learn more about how IJYI helps organisations to release the value in their data, click here.

 

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IJYI Ltd

IJYI Ltd.