The burgeoning Big Data generation has taken its toll on all corners of the economy, reshaping nearly everything from how businesses track revenue, deploy products, oversee services and interact with their customers. So it shouldn't come as a shock to anyone that companies who invest in IT reap their just rewards. According to a new survey from Dell, businesses incorporating things like data analytics and mobile platforms outperform their competition without by a margin of 53 percent in revenue growth rates.
That said, the expanded reach of a company's IT department does not inherently possess a Midas touch. When onboarding new technology, businesses should stay frosty in how they adopt as much as they do with what they plan on adopting. Doing so both integrates these digital assets the way they were intended and prevents them from becoming a burden later. But where to start?
Defining in-house innovation through organization
As expensive as IT investments can be, a high sticker price does not now or ever correlate to greater success rates. So how can businesses gauge the real value of their IT purchases? By defining what innovation means within their unique operations and how these companies organize their processes around the highest possible rate of innovation.
A recent Walden University study found that while the relationship between cost and holistic worth might be tenuous and moot, the bond connecting this kind of worth and its organizational power is actually quite strong. With that in mind, time spent inducing whether an IT investment's organizational properties align with its overall methodology for innovation can give business owners a clearer image of that technology's potential.
For example, the study highlighted modularity as a trait many organizations across industries found useful. This factor refers to an IT system's ability to compartmentalize without creating a complex network of interdependent nodes. Each component is capable of operation with minimal back-and-forth. Not only does this lay great groundwork for data organization, but it optimizes the organizational tools themselves, auditing both information and the process all at once.
"Strategies for data disposal help streamline operations."
Ensuring digital asset disposal
The sheer amount of global data has reached stifling, nigh-incomprehensible levels, but the magnitude of information takes a back seat to its rate of creation. According to a 2013 SINTEF study, 90 percent of the world's data had been generated in the previous two years alone and other studies corroborate this pace is only going to accelerate with time.
As IT product developers incorporate automation as part of the basic package, businesses looking to purchase their wares should bear in mind the importance of data culling as one of those automated features. Strategies for data disposal help streamline operations once the piece of IT in question has been fully integrated, but they also steel organizations against avoidable data breaches. When shopping around with a little extra IT spend at hand, businesses can't really go wrong with technology that supports safe and efficient data management.
IT and tech industry piece brought to you by Marlin Equipment Finance, a nationwide provider of commercial lending solutions for small and mid-size businesses. Marlin's equipment financing and loan products are offered directly to businesses, and through third party vendor programs, which include manufacturers, distributors, independent dealers and brokers in the security, food services, healthcare, information technology, office technology and telecommunications sectors.