The modern business world is characterised by the constantly growing flood of data, which presents companies with major challenges. However, the targeted use of data offers far more than just data collection - this is where the term Data intelligence on. The third step of the KIROI approach, the combination of big and smart data, creates the potential not only to collect data, but also to intelligently refine and strategically utilise it.
Data intelligence as the key to efficient data utilisation
The ability to capture large volumes of raw data in a structured way is effectively increased with the integration of intelligent analysis methods such as machine learning, artificial intelligence and metadata management. This enables companies not only to gain a comprehensive picture of their business processes, but also to recognise hidden patterns. For example, a logistics company uses big data to optimise transport routes in real time and thereby reduce fuel costs, while an e-commerce provider uses smart data to generate personalised product suggestions and improve the customer journey. A financial services provider also continuously analyses transaction data in order to detect and prevent fraud at an early stage.
In this context, it is crucial that the insights gained are made accessible and comprehensible to all relevant decision-makers. This promotes a company-wide change in data culture and supports daily practice in a wide range of industries.
Big & Smart Data: The perfect symbiosis for more data intelligence
Big data often stands for the sheer volume of information collected from a wide variety of sources. Smart data, on the other hand, makes this data usable by filtering, quality-assuring and contextualising it in a targeted manner. This is how companies transform raw data into valuable insights.
An example from the automotive industry shows how sensor data from vehicles can be combined with environmental information to plan preventive maintenance and minimise downtime. In the healthcare sector, the intelligent analysis of large patient data sets enables individualised therapies and significantly improves the quality of care. Smart data is also used in production to detect process deviations at an early stage, which increases efficiency and minimises waste.
BEST PRACTICE with one customer (name hidden due to NDA contract) As part of the KIROI approach, a medium-sized mechanical engineering company integrated Big & Smart Data to analyse sensor data from several production lines in real time. The results were reduced downtimes, optimised maintenance cycles and improved product quality, enabling the company to strengthen its competitiveness in the long term.
Practical impulses for the implementation of data intelligence
The introduction of data intelligence is best achieved step by step and with a clear goal in mind. Here are some tried and tested recommendations:
- Define and secure data sources: Clarify which data is required and how it can be collected in compliance with the GDPR.
- Ensure data quality: Automated cleansing processes and data profiling increase the reliability of the information.
- Introduce modern analysis platforms: Technologies for AI-supported analyses and dashboards promote the rapid interpretation of data.
- Involve stakeholders: Training and regular communication facilitate the acceptance of data-based decision-making processes.
- Proceed iteratively: Pilot projects help to gather practical knowledge and continuously refine the approach.
In retail, for example, smart data analyses make it possible to understand the purchasing behaviour of customers on a regional and seasonal basis. This allows fashion retailers to dynamically adapt their product range planning and streamline their supply chains. Technology companies, on the other hand, use data-intelligent tools to identify customers who are highly likely to churn and initiate targeted retention measures. In public administration, data-intelligent applications help to analyse traffic flows and make urban planning more efficient.
My analysis
Data intelligence realises its full potential when big data and smart data are closely interlinked. Companies benefit from faster, more informed decisions and reduced risks and costs. It is precisely practical solutions and a clear strategy that lead to success. The growing importance of data-driven processes is evident across all sectors, from industry and commerce to services and the public sector. The KIROI concept serves as a helpful guide to establishing data intelligence in the long term and thus securing competitive advantages.
Further links from the text above:
What is data intelligence and what does it mean? [1]
What is Data Intelligence? | Definition and advantages [2]
Why data intelligence is the key to your business success [3]
Data intelligence: How decision-makers use big & smart data ... [4]
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