IBM CEO Explains the Importance of Data Management

As doing business becomes more complex and competitive, having access to accurate data is becoming increasingly important. This is the assessment of IBM chair, president and CEO Ginni Rometty from her speech on October 2nd at the IBM InterConnect 2013 event. According to Rometty, businesses that successfully use data will share these three characteristics.

Data-Driven Decisions
"All of us are going to have more complex decisions to make in a much more complex environment. Those that choose to be a smarter enterprise will get the chance, I think, to make the right decisions and it will be the basis of competitive advantage."

A business leader makes several important decisions every day that will point their company in the direction of success or failure. The more information a leader has will lead to more accurate decision making. Therefore, successful business leaders will need to have easy access to important data from a reliable network, and the different departments within an organization will need a solution that allows them to easily enter and process the data they are responsible for.

Data-Driven Marketing
"Unlike the current practice of serving a customer segment or market, future smart organizations will focus on an individual business, with data analytics driving such activity."

Thanks to more data available to a company's marketing team, organizations can now target their message to individuals and businesses interested in their products or services. Having a staggering amount of market data mined from the Internet and social media will take the guesswork out of marketing, allow for a more focused message, and provide your company with a better utilization of resources. Businesses that know how to use the vast amount of data available to them will see greater returns in their marketing investments.

Data-Driven Customer Experiences
"Data analysis can be extended beyond customer service toward improving employee relations. One-on-one interactions would also apply to how organizations engage their own staff. An engaged employee will drive customer experience and this, in turn, will drive business results."

Having access to accurate and insightful data about your customers and employees is crucial to seeing results like Rometty describes. Using data to understand the needs of your customers and the motivations of your employees will help you shape your business model to be more relevant and more successful.

Businesses that know how to utilize data will have the competitive edge and experience growth. Every business needs processes in place to manage their data; this includes data collecting, data analysis, data distribution, and data backup and recovery. All of these data processes take place over a reliable network. Ferrum Technology Services can help your business manage all of its data by maintaining your network with our managed IT services, and we can introduce you to the latest data collection and management tools that will help your business grow. Call us at (847) 697-3282 to learn more.