Through effective usage of the data available to them, companies are able to boost their commerce, focus on areas of weakness within their business model and align themselves to most effectively meet their customers wants and needs. In these ways, data processing is of vital importance to conducting “good business” and the furthering of a company’s goals. This article aims to explain exactly what data processing is, describe how it is beneficial to business and give an outline of useful tools and services in the field of data processing.
What is Data Processing?
Data processing is the act of analyzing and interpreting raw information on a variety of topics within business. This process is usually performed by trained professionals and, through their analysis and interpretation of raw data, companies can gain an insight into the inner workings of many aspects of their business. The process of data processing can be broken into several stages.
Data Collection. This is, obviously, the first stage as without data there is nothing to process. There are a number of sources of data for collection but, broadly, these can be broken down into two separate sources: data passively collected via analytic tools such as search engines and cookies, and data collected via interaction with customers with surveys and the like. Each are useful for their own reasons, but both are necessary for effective data collection.
Preparation and Input. Once data has been collected it must be properly prepared. Any “bad data” must be removed and the data itself must be organized and input into processing software. “Bad data” refers to any data that is unnecessary, incomplete, or simply incorrect.
Processing. Once input into the software, the data will be processed according to the kind of data inputted and its desired use. This step is done mainly through algorithms and will need very little human input.
Interpretation and Storage. Once processed by this software, the data is outputted into a useful and easily understood form, often graphs and infographics, which members of the company can effectively interact with and use. This information should then be meticulously stored for future and legal use.
Useful Data Processing Tools and Services
There are a number of useful data collection and productive analysis tools available and while the kind of software necessary will depend largely on the company, most will find the programs offered by SAP beneficial. Because of this, companies like SUSE offer innovative services that are designed specifically to interact with SAP products, allowing companies to work as efficiently as possible with these useful products.
How Does it Help Business?
Creating highly specific and easily understood interpretations of this data allows businesses to easily and meticulously craft ideal products and advertisement campaigns (and more) based on reliable data directly provided by their target market.
Products and services produced based on this data are far more likely to find consistent success with target markets and are more likely to be converted by these specific advertisement campaigns.
All-in-all, high specificity is a marked boon to business techniques and can help companies to directly advertise and produce content that is specific to a well-researched market.