All businesses need a high-level view of how insights will fit into their short and longer term future plans, but with technology businesses it’s even more important to ensure that the manual repetitive processes are converted into pro-active insight updates trigger for when the insight information identifies an issue that is about to arise.
This approach to using insights to create pro-active triggers will reduce the overall resulting costs if the issue hadn’t been identified early on.
The challenge that most businesses face is one of how best to use the value from all the data that is being collected and to combine both unstructured and structured data to create ‘insights ‘.
This is what will differentiate technology businesses from their competitors and provide a greater advantage from using the business data to their benefit.
The other key differentiator is to ensure businesses have the right level of Insight as a Service (IAAS) skills to identify and use insights effectively and to understand how to utilise this information to gain competitive advantage.