How To Become Insights-Driven?
They say that data is the driving force of a business, and over the years, companies have invested heavily in collecting and managing data, but the majority of them have not been able to realize the true potential of this valuable data.
May companies have been focusing on collecting data. However, merely having large amounts of data does not necessarily mean it can provide transformative and useful changes. Data helps, but it’s the insights that you extract it will be the crucial factor for a business to be insights-driven. Transforming into an insights-driven organization doesn’t happen overnight. With this in mind, businesses have struggled to truly maximize their data. Many companies have lots of data but nothing in place to properly handle it. And to manage a huge amount of data, you need appropriate technology.
“An insight-driven company, as opposed to one that is data-aware, will
find a way to put every number to use—and that can be overwhelming
when you have a lot of numbers to sort.” -Ryan Stuart, Kapiche Blog
The Elastic Stack is open-source software that helps you store, analyze, and visualize virtually any type of data without changing anything in your current application code. From a simple bar graph to a map aggregating the location of your market, the Elastic Stack can solve all your data analytics needs from day one.
Elastic Stack’s visualization software can be a powerful tool for companies to interpret and analyze a vast amount of data. With this, business leaders can make data-driven decisions, optimize their performances and, become an insight-driven organization.
Here’s a sample use case for Elastic Stack.
OTTO Motors is a company that designs, manufactures, and operates self-driving industrial vehicles. Their main objective is to use robotics to make human-driven operations obsolete. With this operating so many robots requires a technology that can identify problems quickly, improve development speed, industrialize solutions at cost, and easily connect to IoT technology.
Running a large fleet of robots produces a massive amount of data that needs to be analyze swiftly. Elastic Stack features help OTTO Motors to perform high-speed simulations that the robots can complete instantaneously. OTTO Motors uses Elastic’s monitoring feature to create custom dashboards to discover hidden trends, see what indices are being hit hardest, and learn what’s popular with users. This allows OTTO Motors to exercise their fleet management software at hundreds, if not thousands of times faster than normal speed.