November 26, 2018

Big Data: Using Data Logging for Business Development

Data is one of our most valuable resources, but only if we mine and refine it wisely. We have more information at our fingertips than ever before, and an opportunity to use data as a launchpad for business development and greater profitability.

The concept of “big data” refers to the vast quantities of data at our disposal on a day-to-day basis. Big data includes both structured data, which can be easily ordered and categorised, and unstructured data, which is typically unorganised and harder to manipulate.

Don’t dismiss the worth of unstructured data to your business. Both structured and unstructured data hold great value for organisations if mined and analysed efficiently.

How do we use big data in everyday life?

The presence of big data in our lives is often so subtle that we don’t even realise it’s there. Every time we use a credit card, browse the internet, or use a navigation system for directions, data is collected about our behaviours and habits and then transmitted to and analysed by companies who wish to better understand how we use their goods and services.

How can you collect and use data to develop logistics chains?

To scale, logistics organisations must collect the right data to inform the right decisions throughout the entire logistics chain. By using data loggers to continuously collect data for critical activities like circumstance monitoring, for example, companies can rest assured that factors like temperature and humidity meet required levels for the successful storage and transportation of products.

Why is real-time data collection important?

Business development and sustainable growth depend on big data to guide decisions. Take the example of logistics companies: there are often strict regulations and compliance standards that must be met for the transportation and storage of goods. Data logging in real time mitigates risk by ensuring that quality management standards are consistently met.