In 2016 experts projected that the “big data” industry would be worth somewhere around $30 billion by 2022. Based on last year’s data, that number has grown to $275 billion, and some experts expect it to be even higher after increases in computer usage and ecommerce due to the COVID pandemic forcing many companies to go remote and many consumers to do their shopping online, where data is collected for every purchase from pizza to a streaming movie.
The reason for the industry being so profitable is simple: data makes marketing practices exponentially more economic. Here are 4 programs your business can (and probably should) use to collect, analyze, and incorporate data to make your processes more efficient and secure.
Some more in-depth programs exist, but many require knowledge in a programming language or a very deep understanding of data analytics. This list is for individuals who are looking to “do it themselves” with data.
Splunk is a good choice for novice data users because it has features for beginners, but also can be utilized by teams of individuals who are trained specifically in data analytics, and it is widely used in that aspect. It does have its own query language, but it’s well-explained and easy to learn. In addition to its user-friendliness, Splunk is also touted for its ability to create visual representations of data (graphs, etc.) that can be easily digested and shared with your team.
They also offer an interactive online support forum where users can help each other and also request input from Splunk employees.
Sisense analytic software is designed to handle all different kinds of data, so this is a good choice if you have a very unique business model. It is a capable tool for any size scenario, and users like how easy it is to transfer data with a drag-and-drop interface similar to PC desktops. Users can also create their own homepages known as dashboards, which can also be designed to utilize drag-and-drop features, allowing for ease-of-use and quick training for any new colleagues who may need to use your data analytic software.
The interface works with many different programming languages, meaning it’s also a good choice if you plan on analyzing data provided by third parties, and it’s also considered an extremely secure means of sharing data.
Looker requires zero knowledge of SQL or any other languages, and creating and implementing models for your data sets in a speedy fashion is one of the major selling points for Looker. For individuals who like to stay mobile, or have teams who are remote and active, Looker may be a great choice for the simple fact that data sharing is easy and fluent across all devices, including smartphones. Streaming data capabilities that allow for real-time analytics are also cloud-based and can be viewed by multiple team members at the same time.
GoodData’s Business Intelligence program is widely used and heralded for many of it’s offerings. Unlike the other options on this list, user-friendliness is not one of them, but for tech-savvy individuals who are good at “figuring it out,” this option offers some great features and extremely fast analyzation processes. In addition, users tout the security as the best offered in the industry. Though front-end user-friendliness is questionable, the program offers endless analytic options, all of which are very quick once an understanding of the program is formed.
Due to its top-rated security, finance and health-related business may want to take a close look at this data analytics tool. Customer service is also in real-time.
As touched on in the introduction, the data industry is growing at an incredibly rapid rate, and what is an industry norm today could be obsolete by the end of the week. The name of the game with data is efficiency, and the more up to date with your data collection software, the more efficient your team’s processes will be.
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