Data has become a hot button issue throughout every part of the tech world. The internet has helped create such a massive amount of data that only about one percent of the world’s data are being processed or analyzed. A lot of experts are predicting that new industries will emerge in an effort to harness all that information.
Inconsistencies in data and data delivery are one of the biggest barriers to harnessing the information in a way that is meaningful. This problem also plagues SMBs. Without a unifying solution data can exist in departmental databases, spreadsheets left unattended on employee computers or pretty much anywhere data can be stored.
An ERP on-demand solution can bring all that data together unifying department, employees and management perception of the business. Organizations with severely inconsistent data storage and delivery can suffer from issues of non-compliance, over or under-stocking and inaccurate projections.
The importance of data has really only begun to be realized and it will no doubt become a crucial part of any business plan in the next few years. SMBs who strike while the iron is hot and start harnessing their data now with a ERP on-demand solution will have the competitive edge in the future.