Four Hidden Ways To Improve Business

Author Ivy Jiang 21.7.2017. | 13:16

With new and innovative methods consistently being introducedand a constantly evolving business world, there are many new methods that businesses can adapt to take that next step forward. To stay current and keep moving forward, it is important to adopt new methods but also not get bogged down with all that is available.

Here are 4hidden ways that businesses can increase efficiency.

  1. Take advantage of unstructured data

Data is extremely important for businesses. But what happens to all that unstructured data? The data that can be pulled from social media, blogs, websites, etc.? It has intrinsic value, but businesses are not always able to understand it or even see it to start with. This unstructured data can be utilized by businesses to uncover information about their brand, and even customers, and can then help contribute to business practices. As people take to the Internet to share their thoughts and reference specific information in today’s data centric world, businesses need to consolidate this information and learn from it. At the end of the day, it is vital that businesses take advantage of the enormous opportunity that unstructured data presents. Data is data, even if it is unstructured.

 

  1. Use knowledge management systems to handle unstructured data

So now that we understand the benefit of pulling unstructured data, what is the most efficient way to use it? Knowledge management systems help create knowledge, instead of just having the data and not using it to its full potential. A knowledge management system processes the data and increases an organization’s ability to use and profit from it. If data is not processed and organized properly, there can be missing gaps or incomplete sections of information that can be costly and frustrating for businesses to fill in. A knowledge management system generates insights into reports, produces analysis and proves to be an extremely valuable yet underutilized asset. Since the data is well available, it is important we handle and use it properly.

 

  1. Leverage the cloud

There is so much talk of the cloud these days, and for good reason. The cloud, also known as cloud computing, is a great way to boost your business practices. By definition, the cloud is the use of the Internet to deliver computing services. To store and process information, a network of computers is used instead of a single machine as seen in traditional methods.You can improve the overall efficiency of your business and be introduced to a whole different level of flexibility amongst your business practices.For example, team members can collaborate and easily view, share and access information with one another across a cloud-based platform, and there is greater engagement because of it. Another couple of benefits of leveraging the cloud include:introducing new functionalityand technology that seemed to only be enterprise-level technology and being prepared for any situation with your employees having the flexibility to access what they need to, when they need to.

 

  1. Social media analytics

Social media analytics seems to be of more importance to social media and marketing teams. However, this is not the case. Any businesscan utilize social media analytics to understand their clients and the public, and learn how to position itself in the industry. Similar to a knowledge management system, social media analytics pulls data from social media sites and media channels to then help drive informed business decisions. Customers and the public often turn to social media to express themselves, so social media is an important opportunity for businesses to take to interact. It is almost like a free customer service platform. And the businesses that take the time to interact with their customers, more so with B2C companies of course, stand out. You can even prove that through social media analytics.

 

Businesses can take advantage of these methods to gain a competitive advantage and take their business to the next level. What they each have in common though, is data. At its most basic level, it is extremely important for businesses to have their data organized. In case any changes want to be made, it is much easier to do so if the data is ready to be shifted and reworked. Even if changes will not happen for the next couple years, organized data will always be appreciated at some point or another. A strong foundation will support the development and growth of business, and from there new methods can be adopted to drive greater success.


This guest post was written by Hanna Johnson.

Author Ivy Jiang 21.7.2017. | 13:16
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