Big data isn’t just a buzzword. It’s not a flash in the pan that will soon join QR codes and Google Buzz in the realm of hyped but now forgotten tech flops. In fact, it’s just the opposite, and we, as a society, are only at the beginning of something transformative.
According to EMC, the digital universe will reach 44 zettabytes, or 44 trillion gigabytes, by 2020. And the way we process, analyze, and interpret that data is critical if we want to dramatically enhance, or maybe even just keep up with, business strategy and decision making. With deeper, more dynamic data analysis, organizations can identify behaviors, usage, and patterns that lead to better products, processes and strategies.
It’s no surprise that by the end of this year, nearly 75% of organizations will have already invested or are planning to invest in big data. Big data has significant value in recurring revenue operations as it allows companies to better understand and therefore serve, retain, and increase value of customers. And turning data into actionable insight empowers businesses to take advantage of new monetization opportunities, identify and rectify current issues, and proactively avoid risks to better grow recurring revenue.
With the rapid rise in companies pursuing recurring revenue initiatives, there’s a growing need to quickly measure and analyze data, then take action based on customer intelligence. An ever-expanding volume of data makes capturing, organizing, and analyzing that data an increasingly daunting task. To serve that need, the market for analytics platforms has exploded.
At Aria, we understand how important data analysis is to growing revenue, particularly in a recurring revenue business. We put together 5 Things to Look for in a Cloud-Based Analytics Solution for Recurring Revenue to help businesses identify the must-have capabilities in a solution. Cloud-based solutions offer the sophisticated capabilities of a traditional system with lower cost and complexity. It makes big data manageable by mere mortals.
Big data isn’t a fad. Make sure your business isn’t either by downloading 5 Things to Look for in a Cloud-Based Analytics Solution for Recurring Revenue today. With only 0.5% of all data analyzed and used today, the potential of that goldmine is endless.