Data collection is a process of gathering information to make direct observations and answer open-ended questions. It is used by companies to obtain information about a particular problem or workflow process. The research carried out through the collection and analysis of data allows you to make more informed decisions that improve the overall performance of the company.
Business intelligence begins with collecting data to use it for analysis purposes. Without using quality collection techniques to collect relevant and accurate data, a BI tool cannot provide users with the appropriate information needed to correct inefficiencies and improve performance. Furthermore, all the activities that are carried out daily on digital devices produce data and it is a huge amount of information that can be collected, analyzed and therefore also enhanced from an economic point of view.
The Advantages of Data Analytics
The sources of data are many and constantly increasing and therefore what characterizes big data is not just the quantity. The concept of big data involves multiple factors, from the infrastructure needed to collect and archive them, to the tools to analyze them. Without neglecting the skills needed to manage them, starting with big data analysts.
- The ability to make better business decisions
Prossess data as evidence to convince stakeholders to make important business decisions. Small and large businesses alike can collect data to find new customers, improve retention rates, improve service, simplify marketing and advertising decisions, and more.
- Get a complete view of performance
It's hard to know if the company's investments and efforts are worth it if there's no way to track results. Entrepreneurs can choose specific key performance indicators or quantifiable measures that measure performance. A data collection tool can then take the collected data and analysis to track how well each department is achieving its goals and objectives.
- Improve business processes
as misused resources waste time and impact profits, it is essential to reduce inefficiencies and reduce waste wherever possible. Getting a more accurate view of each business process through data collection will provide the answers you need to make the necessary improvements.