It is incredible to see how much businesses rely on data today. 80% of business operations are running in the cloud, and almost 100% of business-related data and documents are now stored digitally. In the 1960s, money made the world go around but in today’s markets, “Information is the oil of the 21st century, and analytics is the combustion engine.” (Peter Sondergaard, 2011)
Data helps businesses gain a better understanding of processes, improve resource usage, and reduce waste; in essence, data is a significant driver to boosting business efficiency and profitability.