The Phenomenon of Datafication: Using Data Logging as a Business Development Tool
It has been said, “if you can’t measure it, you can’t improve it.” The problem most of us face is not that we don’t have enough data; instead, it is knowing how to use data collection and analysis to our advantage.
What is datafication?
Simply stated, datafication is the set of tools, processes, and technology used to create data-driven organisations and teams. “Datafied” companies use data logging, which involves collecting real-world data over a period of time, and then converting it to a digital format that can be reported on and manipulated to show a comprehensive view of a process or result.
How does datafication impact companies?
No matter the product or service, businesses can no longer afford to ignore data collection for the ultimate goal of datafication. For example, logistics companies use data logging for many reasons, including circumstance monitoring, to track and incrementally adjust ideal conditions for products during storage or transit.
In practical terms, a warehouse provider may need to log data about temperature and humidity inside one of their facilities to ensure that goods are stored under ideal conditions. A transportation company might measure environmental factors during shipment to determine any potential negative impacts on the product during transit.
How can you start collecting and using data?
If the idea of datafication seems daunting and too massive an undertaking for your team, there is good news. Thanks to simple machines like data loggers, the hard work is done.
Data loggers provide an effortless way for companies to take large quantities of data and turn it into actionable information. Although they are usually tiny devices, data loggers have a big impact on smarter, faster datafication. By measuring pre-defined variables for long periods of times, organisations are better able to identify patterns and make strategic decisions that have a long-term impact on profitability and scalability.