Data is big business. Does your company really maximise this precious commodity and its ‘critical data’ or is it floating on excel sheets?
For the last 48 hours we have been focused on giving client value as we are putting the final touches to a big roll out here in the middle-east. (More on that in the following days !). My head is filled with thoughts of ‘big data’ a market which is predicted to be worth $187 billion by 2019 !I am wondering how many projects have been started on excel and never finished ! How many companies really manage the ‘critical data’ which is their people and what they do and the material, resource and machinery they work with?
The company we have partnered with has 3,000 + employees. They are now set to collect and organise their live ‘critical data’ on the EMEX platform in one place so they can manage it remotely and from multiple sites. Last night we unveiled the finished product to the CEO, Executive Board, Operations Directors or the EHS team.
The first reaction is disbelief. They see the ‘CEO Dashboard’ and their head explodes when they see all of their business critical data in one screen.The management can now view all the process data, incidents, red flag issues, training, people, material and logistics all in one place in real time. Its like moving from analog to digital. (want to see - then schedule a demo !)
Last week they were one of 65% of of global business Verdantixs identified as trying to manage their business critical data on excel. This week we are giving them a tool that will impact their strategy, change the company direction, drive efficiency across the business, improve the operations management and increase profit. This is all dependent on how they now manage their “critical data”.
The perennial challenge for us as a company is to explain to companies what they can do with their “big data”. The marketing industry gives us a great example. Marketing companies are great at using data. Douglas Rushkoff made this point in his 2016 book Throwing Rocks at the Google Bus. “Digital industrialisation turns human data into the new commodity. Those who market or analyse the data make money, while everyone else is shut out”.
Think about it - in 2016 the digital economy ‘data’ is big business ($187 Billion by 2019). Take JAY - Z for example. Many know him as a musician. But when he and Samsung were publicly skewered for data mining becomes clear he actually makes more money from reselling data to research companies than he does from making music. Incredible!
Global behemoths like Facebook, linkedIN and Google hoover up data and the market research companies are quick slicing and dicing data. Salesforce and Hubspot provide marketing tools to track clients on company websites so targeted mails can be sent back to encourage consumers to buy. These guys have pioneered the slicing, dicing and segmentation of data. They have a very clear framework which other companies and even internal departments could benefit from copying or taking the best aspects from to segment and manage their ‘critical data’.
These companies are the pioneers the question remains how good is the average company in understanding its "critical business data"? How many tonnes of excel sheets do they house on servers - lists the never end, graphs unrelated projects abandoned because the average employee cant make sense of the data?
As a business we have 20 years experience of managing and making sense of the data. We can pin point the companies that are working their ‘critical data’ efficiently but we have more to learn. The more global projects we roll out the more our understanding and insights we develop.
Trends start to emerge because we see the before and the after. Huge effort goes into the adoption of a new business tool. An equal amount of effort needs to go into managing and using the tool to gain the return on investment.
Want to chat about your "Critical Data" Managment - contact us for a demo
Headquartered in Lausanne, Switzerland, EMEX is an EH&S software provider with almost 50 employees and offices in Dublin, Geneva, Houston, Dubai, Lagos, London and Moscow. Founded in 1998, the supplier’s vision is centered on helping its customers establish a link between safety performance and financial performance through enhanced data management and analytics.
EMEX has a strong customer footprint in the Oil and Gas, Food Production, Logistics, Construction and Petrochemicals sectors and has also successfully won customers in regions such as Russia and the Niger Delta. Named EMEX customers include Gazprom, Rosneft, ENEO and Tullow Oil.