Data: Assets impact the pricing of success for businesses

Medium-sized businesses grow in many ways, such as securing a co-operative investment, allowing owners and employees to receive interest rates and secure loans to enhance operations. The success of these strategies is on the company’s valuation, measured by the ability to generate revenue, keep customer satisfaction and loyalty, and maintain the care of its employees and leaders.

Understanding these key elements is an even more important asset – a solid foundation for collecting, leveraging and operating data.

According to IDC, to become the best performing company, businesses spend more time and energy on all aspects of data management compared to other competitors. These factors include timely availability, company-wide accessibility, trustworthiness, completeness, reliability, understandability, overall security and the ability to drive action.

It’s time to treat data as a valuable asset

To remain competitive in an unprecedented era of change, developing companies rely heavily on having a coherent view, from start to finish. Without data, it’s difficult to optimize the overall customer experience, revolve around new business models, take advantage of new productivity opportunities, or increase and maintain the workforce engagement.

For example, IDC reports that 78.1% of companies achieve solid growth by connecting and collecting data analytics and they are now reaping the benefits by using intelligent technologies. , like artificial intelligence, to speed up business.

What these companies know is that artificial intelligence is a great opportunity to improve productivity. It can automate complex, repetitive decisions that account for more than half of the workload in some business areas.

Solutions in SAP enable data organization by empowering data provision in one place. With a set of data blocks connecting operating systems, receiving data and transmitting data as needed, companies can get an unbiased view of data without necessarily sharing their own rights. from the data.

Consistent data requires investment, but the good news is that analytics technology has finally caught up with the aspirations of business users and executives because they can now get what they dream of in over 40 years: all the information they need to run every aspect of the organization, in real time, at hand.

Companies that create a solid data platform are currently reaping significant benefits. They can focus on delivering the expected results that make the best use of scarce resources and respond faster to changing business and market trends. But more importantly, they can raise their valuation to attract the right attention and promote continuous growth.

Get a realistic view of how your attitude and thinking towards digitization can turn your company into a best-performing business.