Big Data’s Value
– Becky Hjellming, senior manager of product strategy at Vision Solutions, says:
Sometimes we learn the best business lessons from good old fun and games. In much the same way, the flashing lights, the playful sounds, and the enthusiastic spirit of casinos are helping to teach more traditional businesses the value of real-time data sharing across various databases and platforms.
The parent company of a group of casinos thrives on instantaneous insights from their data. By funneling all the data from various servers into a centralized data warehouse, management can look at floor activity, how long people have been playing at certain machines, which promotions are most profitable – all in real time. Reporting and analysis can take place at any time. And critical business decisions can be made instantaneously.
Now imagine if the casinos used yesterday’s technology – manually moving data every week or even monthly. That approach clearly would result in tremendous lost opportunities. With the high demands of today’s continual rush of incoming data impacting business decision-making, even the common nightly extraction means wasted data utilization preventing real-time insights. We know that 90 percent of companies use multiple databases, with over three quarters of them sharing data between and among those databases, according to a recent survey by Vision Solutions. Further, 80 percent of companies report redundancies in data, and 30 percent lack processes for synchronizing them. That is – literally – money left on the table. Whether it is a black jack table to the conference table in the c-suite, it has the same devastating effect on the bottom line.
Gaming companies, health care enterprises, financial services, government and all industries rely on trustworthy data that’s easy to access. With so much data reaching an enterprise in a million entry points across disparate operating systems and databases, even executives who know the value of data that’s clean, reliable and ready for analysis cannot always rely on such data. According to Vision Solutions, the most innovative solutions allow companies to seamlessly move data in real time without impacting business operations so that not only can top executives make the right call, they can empower managers and employees to more effectively and efficiently do their jobs.
As a result businesses are increasing productivity, lowering risk and using a wealth of knowledge to make the best real-time and long-term business decisions, while other slow-to-adopt competitors make bad bets.