Companies are basing more and more decisions and processes on data. Organizations put data strategy at the center of their digital transformation. This creates new digital experiences and increases productivity.
We are developing into a data economy and data is thus seen as the new economic capital of companies. Cost-effective and available products offer new opportunities to differentiate themselves from the competition and drive growth. We are currently on the threshold of a Data Economy, driven by technologies such as Internet of Things, Artificial Intelligence, Blockchain, etc. The potential of data is being exploited by companies through collaboration, exchange and analysis.
But to make this data work for you, you need to know where it is and keep an eye on it. databeeSchindler IT-Solutions GmbH, a service developed by Schindler IT-Solutions GmbH, provides an easy-to-use platform for the user and keeps the data in view.
To prepare for the Data Economy, companies must focus on 3 aspects:
Modernization
The infrastructure must be prepared to cope with the increase in data. Instead of data silos, agile processes promote data flow. In order to introduce technologies such as AI, analytics and IoT, a comprehensive digitalization of the company must take place.
This makes it possible to save time and money on product launches, improve sales channels, optimise data processing and gain insights into customer purchasing behaviour.
Increase in turnover
Increase the value of business functions by transforming functions within the company (sales, marketing, finance, etc.)
Increase revenues and reduce costs by effectively delivering products and services to customers. This improves customer loyalty.
Create new business models by offering innovations with data-based products and services
Network
Companies grow beyond themselves by benefiting from network effects and their data. The entire value chain and ecosystem are affected. Data marketplaces are becoming increasingly important in promoting innovative digital applications.
Data is the capital in every company that drives new business models, products, services and innovation limits. This is how you can change both business and social sectors of the economy and lead your company successfully into the 21st century.
