We’ve all heard of Big Data, but leveraging and finding value in it is no small task. Today, technology uses Big Data to learn our patterns and make recommendations on everything from where to shop to the best route to take home. Your smart phone has learned that you and many people “like you” travel home at 5 p.m. every day so it makes recommendations on the shortest route as soon as you approach your car.
Similarly, with advances in technology, organizations are getting smarter about collecting, storing and cleaning their data to help drive better informed business decisions. However, the value internal data can provide is limited unless companies also can access external data to provide context and a wider lens to help suggest what is to come.
Think about it: What good is tons of internal information if business leaders can’t compare it against industry benchmarks to see how they measure up, and analyze it to identify patterns and take action?
Find out in this article by ADP’s Marc Rind in CIO Applications.