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Six Examples of Tech-Enabled Data Collection, Monitoring, and Conflict Prevention

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From supply chains to workforce diversity, companies have a growing array of data at their disposal. New technologies help companies to collect, monitor, and act on information about their operations, as well as to engage with stakeholders on a broad range of issues.

The extent of data collection and monitoring by companies is staggering. To make sense of this mass of data, companies increasingly employ big-data analytics. Cloud computing has made this possible, as companies now have access to vast reservoirs of computing power. Big-data technologies also enable companies to glean insights from their own data, while facilitating collaboration with other companies.

Let’s go into more detail about six examples of new tech-enabled data collection, monitoring, and engagement.

1. Creating a data-driven customer experience

Traditionally, companies have used surveys and other market research to gauge customer attitudes. Today’s customers, however, frequently interact with companies digitally. Savvy companies now supplement consumer surveys with data mining of online behaviors.

Companies glean additional insights from social media outlets, review websites, and online focus groups.

The extent to which companies leverage customer data for customer experience management varies. Some retailers, for example, have experimented with automated, personalized marketing campaigns that leverage consumer data. Others have used big data technology to support “personal shoppers” who help customers find what they want.

Whichever tact companies take, there’s no doubt that big data can improve the customer experience, both online and offline.

2. Improving efficiency and productivity

Big-data technologies enable managers at logistics, distribution, and manufacturing firms to gain greater insight into their operations.

For example, big-data solutions can monitor inventory and supply chain operations in real-time. Companies can visualize complex data flows with maps and charts, making it easy to spot inefficiencies. Managers can drill down to find the root cause of problems and identify solutions.

Furthermore, big data analysis can lead to better allocation of human resources. For example, employers can employ data analysis to “map out” the skill sets of their employees, both within individual business units and across their entire workforce. This can help managers identify the skills gaps they need to address.

3. Ensuring data compliance

Companies constantly collect, store and process large amounts of sensitive information about their customers, suppliers, and employees.

Big data technologies can help companies maximize data value while minimizing legal risks. For example, big data analysis can help companies identify and classify their most sensitive data assets. They can then develop, test, and monitor data archiving processes and policies to ensure compliance.

Companies have encountered an increasing number of data breaches in recent years. Big data analysis can help companies detect breaches more quickly. It can also help companies communicate more quickly, which minimizes the impact of data breaches on customers, employees, and the stock price.

4. Preventing workplace conflicts

Workplace conflict costs businesses billions of dollars every year. Workplace conflict is also a leading cause of employee turnover.

Big-data technologies can help companies identify potential conflicts before they escalate into costly conflicts.

For example, big-data solutions can monitor employee communications, including email, chat, and text messages. By comparing the words people use in messages to outcomes, companies can spot potential conflicts and intervene early on. If, for example, a manager suspects harassment, he can intervene before the situation escalates into a legal dispute.

Big data can also help companies minimize the impact of conflicts on productivity. For example, big data analysis can help companies identify which employees are at risk of leaving because of conflict. This empowers companies to take steps to keep these employees engaged and productive.

5. Facilitating collaboration

Big data can help companies collaborate with other companies – regardless of size, location, or sector – on a wide range of issues.

For example, big-data solutions can help companies share data, insights, and ideas both internally and with other stakeholders. They can use collaboration platforms to share big data insights with each other. Such platforms make it easier for large and small companies, as well as government and non-profit groups, to share and collaborate on big data projects.

6. Enhancing human resources management

Big data can help companies optimize human resources management. Savvy human resources professionals leverage big-data technologies to gain insights into a variety of HR issues.

For example, they can use big data analysis to uncover “talent gaps” in their workforce. Such gaps can be the result of skills shortages, employee retention problems or a lack of diversity. Big data can also help companies identify and recruit top talent.

Companies can also leverage big data analysis to identify high-potential employees. This can help companies develop and retain future leaders.

Conclusion

New technologies are always arising and businesses need to keep up. Companies that fail to adopt new technologies risk falling behind their competition.

At the same time, it’s important to remember that technology is only one piece of the puzzle. To fully realize the benefits of big-data technologies, companies must also have the right strategy, people, and culture.

 

The post Six Examples of Tech-Enabled Data Collection, Monitoring, and Conflict Prevention appeared first on Datafloq.

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