Month: June 2013

The way we collect, manage, report on and analyze data has changed dramatically in concurrence with the emergence of new technology. In the past, information needed to live in lavish environments in order to be effective. However, modern tech has allowed users to simplify the data management process.

One of the key terms pertaining to this phenomenon is "hub-and-spoke," which describes the type of data infrastructure necessary for managing a successful operation in today's business climate. According to a new study from Forrester Research, this is the future of information management, as it helps organizations maximize the value of their data.

Forrester analyst Brian Hopkins spoke about this in a corresponding report, indicating that the old ways of managing information have become cumbersome and unnecessary.

"Yesterday's correct data architecture involved centralized warehouses, marts, operational data stores and a lot of ETL [extract, transfer and load.] Because data warehouses were expensive, building one and forcing all data into it was a logical approach," he said, suggesting that new-wave methods have become more conducive for today's needs. "Hub-and-spoke … features rapid analytics and extreme-scale operations on raw data in an affordable distributed data hub. Firms that get this concept realize all data does not need first-class seating."

To go along with simplified data infrastructure, organizations must have a system in place designed to effectively manage and report on their information. By initiating FileMaker development, companies can build custom database software systems that will allow users to control their information. This will complement all modern storage and infrastructure strategies and allow companies to truly get the most out of their data. 

Businesses that want to better understand customer habits, so they can create and develop more fine-tuned advertising campaigns, can benefit from custom database software systems. With tools such as FileMaker development solutions, organizations can sift through large amounts of information and draw conclusions on customer habits. From there, the right marketing approach can be taken to ensure that a company finds success while still meeting customer needs.

Giovanni DeMeo, VP of global marketing and analytics for Interactions Marketing, explained to InformationWeek that his company was able to use Big Data to gain insight on the connection between weather patterns and consumer shopping habits.

Specifically, Interactions studied which products had the most significant sales increases and decreases during specific weather events. The company also took into account how geographic location, time of day, day of the week and a retailer's proximity to competitors' locations had an effect on shoppers' habits. The results showed that one day prior to statistically similar weather events, sales in 28 product categories jumped from 20 percent to 261 percent over the same day one year earlier.

"Anything with more than 20 percent or greater increase in sales, over sale-day [the] previous year, gives us the opportunity to identify those categories, and have enough time to communicate with retailers and manufacturers," DeMeo said.

Having information like this allows businesses to create campaigns that educate customers. Depending on the type of product or services sold, they could be more useful depending on what type of weather patterns are occurring, DeMeo explained.

Weather is just one of many details that could affect consumers' purchasing habits, which is why custom database software could be so critical to an organization's advertising campaigns' success.

With more information readily available online, it is hard to find organizations that are not connected in some way. Even public schools have information online, which was the driving point behind Zynga co-founder Steve Schoettler starting Junyo.

According to a recent TechCrunch article, Junyo was created to solve many of the problems that K-12 schools face, such as being able to understand student performance. A new company product, EdLights, launched two weeks ago. The news source explained that it takes publicly available data points on schools and makes a simple user interface that schools and marketers can understand.

"All in all, this means EdTech companies and school suppliers have access to 650 district and school data points, which aim to help them identify market opportunities across 55 funding categories and 57 expenditure categories that break down where money is budgeted and spent," the article explained. "The new service also comes with mobile access in a web app customized for tablets and mobile devices."

Schoettler gave an example by saying that if a startup that created a math product and wanted to ensure it brought it to the right schools, the company could search for schools that have Title One funding and low math scores.

Furthermore, similar organizations that have had success with similar products could also be identified, helping the startup understand what needs to be done for both parties to benefit.

Companies that have the right custom database software can take mass amounts of information and organize it in a way that is easy to understand and is accessible for numerous users. With tools like FileMaker development, businesses can ensure that they are able to effectively use Big Data to their advantage.

Just because the term is called "Big Data" does not mean that it is relegated to only large companies and organizations. With more information becoming available online and accessible from different computer systems, businesses can fine-tune their marketing approach or even improve inner office operations.

Steve King, a partner at Emergent Research, spoke with Forbes on how Big Data is influencing the business world.

"The growth of the internet, wireless networks, smartphones, social media, sensors and other digital technology is fueling a big data revolution," he said. "Big data was the exclusive domain of statisticians and large corporations but not anymore."

King added that small businesses can also benefit from Big Data. For example, when a company is able to bring sales and staffing data together it can help the organization achieve more cost-effective processes. Scheduling and tracking supplies can be streamlined and a business could cut costs.

Additionally, digital marketing can help companies find the best ways to reach current and potential customers. For example, a study by Catalina found that 53 percent of a brand's sales volume comes from outside its demographic target. The report looked at 10 different types of brands that tried to cater most ads to women ages 25 to 54.    

Specifically, when it came to mayonnaise and frozen dinners, 60 percent of those sales came from customers outside the demographic target.

With custom database software, businesses of all sizes can take advantage of the Big Data trend. Taking in large amounts of information doesn't have to be overwhelming, and can in fact, help companies find more efficient ways to reach out to customers and improve daily operations.

The Chief Information Officer's role is changing in the era of big data. While these executives will still be relied upon to manage business technology and information systems, the way businesses as a whole are using their information is shifting, which means the CIO has to adjust his or her own responsibilities accordingly.

This has become an even bigger issue recently as technology has evolved to a point where many systems don't necessarily require management from an executive. Cloud computing, for example, is typically managed by a third party provider and many other solutions are self sufficient and streamlined, which has led some analysts to question exactly what the CIO does now. 

An article in the online publication Smart Data Collective suggests the CIO has an opportunity now to adjust his or her title as he or she become less about managing systems and more about evaluating the data collected in these systems.

"The best way Chief Information Officers (or CIOs) can regain past glory of their role is to adopt and grow with changing technology and evolve to become Chief Insights Officers," the article says.

But making these key insights to benefit the organization requires help. If the CIO is to be relied on to evaluate company data and make smart decisions based on its contents, there must be a system in place to cater to this need. FileMaker development can help build custom database software systems that give users easy access to information. The CIO will be able to use this information to better his or her own responsibilities.