Every two days now we create as much information as we did from the dawn of civilization up until 2003.”
— Eric Schmidt, Former CEO of Google
With advances in technology and the adoption of mobile apps and social media strategies, the amount of data being collected by companies today is massive. Every technology platform used by a company, from their general ledger system to their travel and expense reporting system, has the capability to collect and store data. The challenge is harnessing that data so management and executives can leverage it quickly and easily. Most companies make considerable investments in technology platforms in an effort to provide efficient processes to their employees while simultaneously hoping to lower costs. But the key to actually realizing cost
savings on technology solutions is to provide access to good data so that managers can improve their business process. Though companies make enormous technology investments, many fail to provide the reporting and analysis capabilities that their executives need to improve processes on an ongoing basis.