Reporting tools help bolster big data usage

Big data is still considered a buzzword among enterprises, but many businesses have found it to be an asset to their operations. The information collected can give significant insights into how successful the organization is as well as areas that could be improved upon. Without this type of data, it can be difficult for decision-makers to drive innovative choices and ensure that the company receives maximum benefits. However, as more information is gathered, it will be considerably complicated to sort and process it all. By leveraging analytics and reporting tools, organizations can more easily dissect their data and gain actionable insights for bolstering operations.

With all of the hype surrounding big data, it should come as no surprise that some businesses are hesitant to incorporate the trend. However, it's becoming more important to utilize all of the information at a user's disposal. InformationWeek contributor Jeff Klaus noted that by estimating costs, creating a use policy and targeting business processes, IT employees can better gauge essential trends and drive for impactful changes that will most benefit company processes. It's important to note that analytics alone will not be able to deliver insights. By coupling the metrics with a report designer, viewers will have a comprehensive image that groups information together for a better understanding of how the organization is performing.

In order to manage all of this information, however, it will require an extensive look into data center capabilities. By gauging the capacity at these facilities, decision-makers can ensure that they have the resources available to manage data and reporting efforts.

"[B]usinesses should only unleash big data once they have a full understanding of how it will change the data center," Klaus wrote. "This means identifying the requirements, goals and data policies up front. And it also means understanding the effect on the use of data center resources."

Facilitating reporting for better performance
Big data has been known to drive substantial improvements by displaying information relating to security metrics, customer preferences, organizational costs and other procedural elements. Some businesses have already experienced the benefits that this trend has offered, while others wait on the sidelines to see how it can be advantageous to their processes. HedgeWeek contributor James Williams noted that a majority of operations teams are finding operational efficiency efforts to be challenging, which means that some may resort to outsourcing their needs. This move could help bolster innovation and enable users to derive more actionable insights from their information.

"The infrastructure for data management and data governance needs a versatile solution and the only way to achieve that is with technology," SEI vice president Ross Ellis told HedgeWeek. "Managers increasingly rely on a solution that can take care of both regulatory requests, and those from prospective and current investors, without impacting on the direction of the firm. The last thing they want is to divert the company's resources to dealing with responding to compliance and regulatory requests."

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