IT Brief Australia logo
Technology news for Australia's largest enterprises
Story image

Turning digital data into a digital goldmine for business intelligence

By Sara Barker
Thu 4 May 2017
FYI, this story is more than a year old

Organisations are still getting to grips with the explosion of digital data and how to manage it to stay competitive. According to Empired, that digital data makes it easier and cheaper to drive efficiencies, increase revenue, decrease risk and stay compliant. 

But where on earth do organisations start? According to an IBM study, 90% of the world’s data has been generated in the past two years alone. Digital data offers tracking and reporting on everything from company data to customer interactions.

“Data can become a burden when businesses don’t know how to best use it to extract key insights. Business leaders can get lost in seas of data, find interesting pieces of information, and answer unasked questions,” comments Ben Johnson, Empired’s national business manager for data insights and integration.

Customer interactions are the secret sauce in the mix, particularly data on in-store, online and social media interactions. There is all sorts of information - who customers are, what they want to buy, their loyalty and their experience. All of these can be linked to previous buying behaviours.

According to Empired, organisations can consolidate this data to get a 360-degree view of the customer so they can uncover the opportunities and improvements.

“There’s a difference between answers that are interesting and answers that are valuable. Unfortunately we see a lot of customers who have invested in solutions that may not be valuable or they don’t know how to measure the value. Organisations must tie the data to desired business outcomes to achieve sales and operational, financial or strategic goals,” Johnson says.

Internal data is only a small percentage of total data - the trick is taking how to take the information gained from business insights and use that to understand what is happening in the wider industry. Empired believes that most organisations keep these separate, but it is important to combine them.

Johnson says that before collecting data, organisations must consider what insights they’re looking for and how they will measure value. They need to figure out when they have enough, and what technology will do to help.

“There must be a planned and complimentary approach to connecting information and developing narratives based on that information. Data intelligence and digital strategy need to be matched with benefits and measured with appropriate governance,” he says.

He believes that change management is the final strategic stream - and it’s also the biggest risk to IT. Users must engage with tools and systems regularly. It must also be updated with the right skills and support to develop visionary conversations.

Businesses must view digital data through a transformation lens - leaders must have the end in mind with a clearly-defined vision about what the business wants to achieve and how to know when the end has been reached.

Once that vision is clear, it must be objective and measurable with time. Measurement lets businesses know that the exercise has been successful. Breaking down activity streams into sub-parts helps leaders keep parties honest in the transformation journey.

“Unless the investments in data and analytics makes a real difference to customers or achieve operational, financial or strategic goals, any data analysis journey is nothing more than an academic exercise,” Johnson concludes.

Related stories
Top stories
Story image
Ransomware
Examining the future of ransomware threats with Vectra’s CTO
As customers' valuable data move to the cloud, so will ransomware. What is the current landscape and what do we need to know?
Story image
Apple
Your tools, your choice: why allow employees to choose their own devices?
Jamf Australia says giving your team the freedom to work with their digital device of choice could help to attract and retain top talent in a tight labour market.
Story image
Recruitment
Thales on recruitment hunt for next disruptive innovations
"Recruiting new talent is part of Thales's belief in the power of innovation and technological progress to build a safer, greener and more inclusive world."
Story image
Cybersecurity
Palo Alto Networks' cloud security platform receives IRAP assessment
"We provide help protect all forms of compute, cloud native services and access to data within public and private sectors."
Story image
Ransomware
Businesses unprepared to defend against ransomware attacks
Ransomware attacks continue to impact organisations worldwide with high costs, but businesses are still largely unprepared.
Story image
Robotics
Evonik relies on Getac F110 tablet to control autonomous robot
The aim of the project is to evaluate the practicality of an automated robotic maintenance and inspection solution in the chemical industry.
Story image
State Library of Victoria
State Library of Victoria entrusts Oracle support and security to Rimini Street
“Our finance team are very happy with the support and security that Rimini Street provides, which keeps our assets and our customers secure."
Story image
Digital Fingerprint
Decline in counterfeit cherries after digital fingerprinting
Reid Fruits says there’s been a dramatic decline in counterfeit products for its cherries over the past three export seasons to Asia because of digital fingerprinting.
Supply chain
Discover the 4 critical priorities for wholesale distribution businesses in FY23. Are you worried about how supply chain issues may affect your business in 2023?
Link image
Story image
Artificial Intelligence
Juniper study reveals top AI trends in APAC region
Juniper's research shows an increase in enterprise artificial intelligence adoption over the last 12 months is yielding tangible benefits to organisations.
Project management
Discover the 4 crucial factors for choosing the right job-costing solution. Is your team struggling to cost jobs and keep projects running on budget?
Link image
Story image
Multi Cloud
Cloud is a tool, not a destination
For many years, “cloud” has been thought of as a destination which has led to a misguided strategy that sees an enterprise trying to shift all its applications to a single cloud provider – regardless of the specific needs and nuances of each individual workload.
Story image
Airwallex
How Airwallex helps businesses achieve globalisation success
As markets continue to shift, businesses need to be able to provide the same quality of service for customers regardless of where they are located around the world.
PwC
WSLHD and PwC’s Consulting Business came together to solve through the challenges of COVID-19. A model of care was developed to the NSW Health Agency for Clinical Innovation guidelines with new technology platforms and an entirely new workforce.
Link image
Story image
Cybersecurity
Tech and data’s role in the changing face of compliance
Accenture's study found that 93% of respondents agree or strongly agree new technologies such as AI and cloud make compliance easier.
Story image
SOTI
Australian consumers loyal to retailers who deliver speed and visibility
SOTI finds extensive order visibility and speed are the most important factors for turning one-off customers into loyal, long-term buyers.
Story image
Infrastructure
New VMware offerings improve cloud infrastructure management
VMware has unveiled VMware vSphere+ and VMware vSAN+ to help organisations bring benefits of the cloud to existing on-prem infrastructure.
Story image
Microsoft
SAS wins Microsoft ISV 2022 Partner of the Year award
"We formed the SAS and Microsoft strategic partnership with a shared goal of making it easier for customers to drive better decisions in the cloud."
Story image
Apple
Jamf introduces new content filtering solution for education providers
Jamf has announced the launch of Jamf Safe Internet, a new offering that looks to deliver a safe online experience to students while offering better management options for admins.
Story image
Cybersecurity
Delinea’s Joseph Carson recognised with OnCon Icon Award
Delinea chief security scientist and advisory CISO Joseph Carson has been recognised as a Top 50 Information Security Professional in the 2022 OnCon Icon Awards.
Story image
Artificial Intelligence
Siemens expands NVIDIA partnership for industrial metaverse
Siemens is expanding its partnership with NVIDIA to enable the industrial metaverse and increase the use of AI-driven digital twin technology.
Story image
Artificial Intelligence
Accenture shares the benefits of supply chain visibility
It's clear that gaining better visibility into the supply chain will help organisations avoid excess costs, inefficiencies, and complexity to ultimately improve their bottom line.
Story image
Artificial Intelligence
Dynatrace extends automatic release validation capabilities
Dynatrace has extended its platform release validation capabilities to improve user experience at every stage of the software development lifecycle.
Story image
Samsung
Monitors are an excellent incentive for getting employees back
The pandemic has taught us that hybrid working is a lot easier than we would’ve thought, so how can the office be made to feel as comfortable as home? The answer could be staring you in the face right now.
PwC
PwC's Consulting Business and PwC's Indigenous Consulting are proud to play an important role in helping Australian Indigenous Mentoring Experience build IMAGI-NATION, a free online university for marginalised communities around the world.
Link image
Story image
Online shopping
Consumers want speed, visibility in return for brand loyalty
72% of Australian shoppers want complete online order visibility and 63% are loyal to retailers who deliver goods the fastest.
Story image
API
Industry-first comprehensive risk-based API security enhances protection
Application Programming Interfaces (APIs) have become a crucial part of operating web and mobile application businesses and are causing significant economic growth in the digital sector.
Productivity
Discover the 5 ways your ERP may be letting you down. Is your current system outdated, difficult to manage, and costing you a fortune?
Link image
Story image
IDTechEx
The next stage for 5G in thermal materials - IDTechEx
IDTechEx says higher frequency deployments, such as mmWave devices and very different station types such as small cells, present their own technological evolution and, with it, thermal challenges. 
Story image
Accounting
Four factors to consider when choosing the right job accounting solution
Progressive job-based businesses can achieve success by strengthening their ability to quantify every cost attributable to the delivery of an outcome for a customer.
Story image
Metaverse
How the metaverse will change the future of the supply chain
The metaverse is set to significantly change the way we live and work, so what problems can it solve in supply chain management?
Story image
Research
New study reveals 51% of employees using unauthorised apps
The research shows that 92% of employees and managers in large enterprises want full control over applications, but they don't have it.
Story image
Artificial Intelligence
Vectra AI named as AWS security competency partner
Threat detection and response company Vectra AI has announced that it has become an Amazon Web Services Security Competency Partner.
Story image
Artificial Intelligence
Eight top DevSecOps trends to support IT innovation in 2022
The use of DevSecOps practices is growing, as it is increasingly seen as the best way to produce high-quality and secure code. So what are the current trends?
Story image
Data Protection
Five signs your business is ready to move to the cloud
Many organisations are thinking about moving to the cloud. But what are the signs you are ready, and what are the reasons to move?
Digital Transformation
Discover the 5 signs your business is ready for a cloud-based ERP. Is your business being left behind as more of your competitors switch to the cloud?
Link image
Story image
Payroll
How New South Wales state departments achieved cloud migration success
State departments in New South Wales are heading to the cloud to achieve better workflow solutions, and one company is paving the way for their success.
Story image
Enterprise Resource Planning / ERP
Five ways your ERP is letting you down and why its time for a change
Wiise explains while moving to a new system may seem daunting, the truth is that legacy systems could be holding your business back.
Story image
Documentation
Adobe study finds lack of digital trust and utilisation in Australian Government agencies
New research commissioned by Adobe has revealed a significant lack of digital trust within Australian Government departments, along with the continued underutilisation of key digital processes.
Story image
Cybersecurity
Without trust, your security team is dead in the water
The rise of cyberattacks has increased the need for sound security that works across any type of business, but with any change, buy-in is essential. Airwallex explains why.
Story image
Tech job moves
Tech job moves - Bitdefender, Cohesity, Fortinet & MODIFI
We round up all job appointments from June 27-30, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Wiise
Four things wholesale distributors need to consider for FY2023
In a post-pandemic world, there are many things for a distribution business to juggle. ERP solutions company Wiise narrows down what companies should focus on.
Story image
Digital
Ivanti puts spotlight on power of employee digital experiences
The report revealed that 49% of employees are frustrated by the tech and tools their organisation provides and 64% believe this impacts morale.
Story image
Solutions
Progress launches latest version of network visibility solution
In Flowmon 12 network solution, Progress has expanded its support for public cloud provider flow log monitoring and launched new features.