We are seeing a change of paradigm in the Business World. New opportunities of technology, faster internet connecting people, disruptive startups defying larger corporations, are just some of the factors that are speeding up the need for being constantly updated.
“Move Fast Break Things”
Entrepreneurs known for their eccentricity and fast working pace, are obsessed by real time updates on their startup, as on the environment around it. They are constantly changing scenarios in order to predict what will be the next big thing and how can they growth hack.
Business executives pushed by entrepreneurs hype, are looking to fasten their pace taking advantage of tech opportunities and became eager for real time data.
Imagine a normal situation.
You are in a board meeting presenting a report and you have a dashboard with Sales data from the last semester, divided by month.
You’re discussing the evolution and you want to see that dashboard but divided by week to see if there’s flotation along that period of time.
In the “old days”, the meeting would have been rescheduled to make room for the data analyst to prepare a new dashboard or report.
In today’s business world, there’s no time to be postponing meetings and more importantly, decisions.
Mobility is underrated
Managers and executives are spending less and less time at the office, so being able to access data away from a desktop while you are heading to a conference or a meeting is a crucial.
Imagine, you’re going to meet with a possible client or investor and you come up with a last minute information you’ll need. Could you check it on your phone?
We have just wrote about it in a recent post “Mobile BI is probably the most underestimated field of Business Intelligence.”
Real time data ≠ Real time access to data
There’s a common mistake in everything we write above. Real time data is constantly being confused with Real time access to data.
Real time access to data is when you can simply access to your data at anytime, just like the opposite of what happened in the meeting above.
You can do queries and look for the info you need, produce a report or change it by yourself.
Real time data is having data updated by the minute.
Do you really need real time data?
The truth is that in most cases you probably don’t need real time data, what you really need is real time access to your data, availability to change scenarios and test hypothesis on the moment.
With Wizdee you have data updated by less than a minute, but the biggest advantage is the ability to analyse data on any device just by entering plain english queries like “Leads generated by tradeshows this month”, in a search box.
The answer automatically pops in the screen and that’s it. No IT help, no waiting, no limiting dashboards. Just ask and get answers. Even on mobile.
The business world is evolving and being able to keep the pace of ever changing markets and industries will be of key importance to stay on the game.
Are you ready?