Introduction
Despite being a word developed in 2013, datafication remains incredibly important. It aims to translate social behavior into quantifiable data through rigorous mathematical analysis rather than merely translating analog information into digital data as digitization does.
It is the key to unlocking all of the possibilities in your data. And with so much information at our fingertips, corporations cannot help but use it. Datafication has already substantially influenced several businesses and will continue to do so. If you want to be a part of this movement and remain ahead of the curve, keep reading to learn more about datafication and how it may help your organization.
What is Datafication?
According to MayerSchoenberger and Cukier, datafication is the conversion of social activity into online quantifiable data, allowing for real-time tracking and predictive analysis. Simply said, it is the transformation of a previously unseen process or action into data that can be observed, tracked, analyzed, and optimized. The latest technology that we use has permitted many new methods to ‘date’ our daily and fundamental actions.
Datafication entails transforming behind-the-scenes activities and procedures that consumers are generally ignorant of into valuable information in order to transform the firm into a completely data-driven operation. And, with techniques such as artificial intelligence (AI), machine learning (ML), the Internet of Things (IoT), connected smart gadgets, and, of course, Big Data, it is quickly becoming the core of a company’s success.
How does Datafication work?
The act of converting raw data into usable information is known as datafication. Businesses may increase their efficiency and effectiveness by making more informed decisions based on factual facts.
The advantages of datafication are obvious: firms may save money by decreasing the number of mistakes caused by missing or erroneous data, and they can enhance customer service and operations by offering greater insights into consumer behavior.
However, datafication is not a new notion; in fact, it has been utilized to improve corporate performance for decades. The main difference now is that we have access to massive volumes of data that were before inaccessible or too expensive to obtain.
Benefits of Datafication
You may undoubtedly guess that datafication provides several benefits to all sorts of enterprises, large and small, across industries. Here are some of the main reasons why you should use them for your sensitive data management records.
- Facilitate Digital Transformation
These days, digital transformation is quite the buzzword. However, it is far more than a fleeting fad; it is becoming increasingly crucial for all organizations that wish to stay current and relevant in the modern world.
You can only benefit from the most cutting-edge technologies if you have usable data. Datafication is the key to technologically and otherwise enhancing your operations. When you know where you are, you will be able to take the essential actions to go forward and grow via innovation.
- Datafication helps in Data Management
They help people understand and relate to what datafication is and how it works. One advantage of datafication is that it aids with data management.
Data management may assist businesses in gathering information from several sources and organizing it in a way that allows them to make more informed decisions.
- Have Access to Relevant Data Quickly
As your computer will only retrieve relevant data, there is no chance of losing out on information that is vital to you. Furthermore, you will only be storing and accessing the sorts of media information that you require.
This will also benefit you since you will not have to do anything else with the data; it will simply sit there, ready for you to use it.
- Manage Information
We’ve previously mentioned how much data your company generates and collects on a daily basis. This will benefit you if you take the appropriate actions to handle it. It may be overwhelming otherwise. It may possibly just sit there gathering dust. That is something you do not want to happen.
Datafication, fortunately, helps you to handle data. Datafication guarantees that you are arranging your information correctly as you acquire it, allowing you to use it successfully to make decisions. You won’t just be storing data; you’ll also be able to access and interpret it.
- Gain Insight into your Processes
The analysis of raw data is tough. However, datafication converts unstructured, unintelligible information into usable insights, allowing you to get an insight into your organization’s operations and procedures.
What do you do well? What needs to be improved? Or, what is working well but may be improved? Datafication implies that you will be better able to comprehend your own and your company’s strengths, limitations, potential, and possibilities. It also provides insight into the impact and outcomes of your projects, allowing you to evaluate what you’re doing and how you’re doing it.
Conclusion
Datafication is the business of the future. It not only makes data management easier, but it also helps you to automate operations to make your workday more effective and less time-consuming. By utilizing datafication tools and technologies, you may free up time to focus on other vital elements of your organization.
So, if you haven’t started leveraging these technologies yet, now is the time to call Oriental Solutions to provide you with the most cost-effective Data Management solutions!
