According to IDC, the data market was worth US$260 billion in 2022. By 2025, information generation will total 163 zettabytes, according to IDC’s Data Age 2025 study. This means that the total volume of data will increase exponentially around the world, leading to greater complexity in managing it.
In this sense, big data is positioned as the solution to help organizations extract this data from different sources, understand how to make sense of it, take advantage of it and use it to identify new opportunities.
Today, the sectors that invest the most resources in data analysis are finance, industrial production, commerce, professional services and the public sector; within a company, the departments that benefit most from the use of data are marketing, sales, logistics and security.
There are software solutions for customized marketing, cross-media, and variable data on the market that help companies create, manage, automate, and monitor direct and highly effective marketing and cross-media campaigns, without sacrificing media functionality, presentation, or design.
On top of that, analyzing the data generated by an organization’s customers and employees will enable faster, better quality and evidence-based business decisions. These are some of the advantages of using this enormous mine of information that is obtained on a regular basis.
Shorten Response Times
By knowing the demands, preferences, and behavior of users, you will be able to satisfy them more efficiently and, in some cases, anticipate them. This will result in more loyal customers and promoters of your brand or service.
Detect Business Opportunities
By making better use of the infrastructure of companies and knowing in detail the needs of customers, it will be possible to identify areas of opportunity for growth. Data will help design new products or services that allow you to stay ahead of the competition with communication solutions that provide unique customer interactions with businesses and enhance the customer experience.
As part of the study of data, it will be possible to find the problems or blind spots in the processes of each company, making them more efficient.
According to some estimates, 90% of the world’s data was generated in the last two years alone and is estimated to grow by 40% annually. This shows that data analysis is not a trend and must be integrated into your business strategy.
Xerox offers you some tools to take the step towards digitization in 2023, such as the DocuShare platform that helps you manage your documents in the cloud or the ConnectKey applications to securely manage your company’s information.