Do You Have the Power of Real-Time Data Analytics?

We interact with brands today across multiple channels. Think telephones, emails, apps, social media, surveys, and more. Data explosion is real, thanks to rapid advancements in mobile technology and internet connectivity. IDC says that by 2025, worldwide data generation will grow to 175 zettabytes. Do you know how much that is? If each terabyte in a zettabyte was equivalent to a kilometer, that would mean 1,300 round trips to the moon (768,800 kilometers)!

Big data analytics has been around for years now. Businesses gather information, sift through, and analyze it to make critical decisions. They now have a way to delve into the whims and fancies of their customers, for product and service innovations. It also helps them increase work productivity and gain a competitive advantage. Not only is data analytics critical, but the quality of data is important too. Indeed, the average financial cost of poor quality data analysis for organizations has been estimated at $15 million per year. 

When we talk about data quality, terms like accuracy, reliability, consistency, and granularity comes to our mind. But, apart from those characteristics, a new aspect is becoming increasingly important: data analysis in real-time.

Importance of Real-Time Data Analytics

Big data is a massive arena. Not all information gathered is valuable for your company. To make it faster and more accurate, companies are now relying on real-time data analytics. This means systems that process and analyze information that was fed instantaneously, to generate meaningful information.

With access to real-time data analytics, companies can not just respond quickly to changing customer needs and preferences, they can change their offerings and marketing campaigns in response to the changing environment. Real-time analytics also means that problems can be identified early and corrective action can be implemented before things worsen. In addition, such data has also been found to improve customer services, by allowing employees immediate access to customer information. Real-time analytics is also great for top management to get a clear view of the business, whenever they need it. It also helps improve operational efficiency.

One of the key advantages of real-time data analytics is that is can help keep employees motivated. When employees can see where things are going wrong in real-time, they can correct their course of action immediately, achieving better performance and outcomes. 

The up-to-the-minute customer data, including their demographics, purchase history and preferences, help make quicker business decisions. Sales and customer-support dashboards can be instantly refreshed to provide enhanced customer experiences. It saves time, cost, and energy and can keep you one step ahead of the competition.

The Veris platform is also based on real-time analysis of employee and visitor information. Let’s see how.

Active Directory Integration 

Large companies have employees joining and leaving all the time. This often creates confusion. For example, a receptionist tries to reach an employee for parcel delivery, only to find out that they no longer work for the company. Consider a visitor trying to find the host on the visitormanagement software, and unable to do so because he or she is a new employee.

To avoid such embarrassment and waste of time, we have made it possible for our software to be integrated with the active directory, a real-time record of employees maintained by the HR department. This means that as soon as an employee joins or leaves the company, the visitor management software is upgraded instantaneously. This is useful in a huge number of scenarios:

·       Organizing Meetings: No longer will a team head invite unwanted people to meetings. Some employees may be on leave or some shifted to a different branch. 

·       Emergency Notifications: In times of crisis, security teams and emergency responders will have accurate lists of people in the building. The Veris system can send emergency notifications to these people accordingly. 

·       Awkward Mornings: A new employee will not be left stranded in the reception area, unable to log in. In such cases, they typically contact the HR personnel, one of whom asks the receptionist to let them enter. This is especially embarrassing in offices where there is an access-based entry. This can create a negative image of a brand for a new employee.

·       Accurate Data Analysis: You can rest assured that all data analysis is done by the Veris system, whether it is meeting room usage, visitor data analysis or employee attendance records is being done accurately, based on the actual number of employees in the office.

When done in real-time, data analytics provides a whole new paradigm in improving operational efficiency and keeping employees motivated. This leads to faster results and happy customers.