Knowledge is power, but too often, a surfeit of it results in organizational paralysis. There are many reasons for this. Among them is that integrating, analyzing, and making decisions based upon different data sets from wildly varied sources is complex and time-consuming. In addition, if done poorly, it can lead to suboptimal outcomes.
Luckily for modern businesses, there are ways of overcoming these disadvantages and pitfalls while also maximizing the utility a company gets from vast data resources. One of the best resources in this area is business mapping software.
Business Mapping Software: Is It For You?
A key challenge of running a business is integrating available data with business strategy and strategic decision-making processes. After all, what good is data if it is difficult to contextualize properly?
Technology provides modern firms with all the data they could ever want from various perspectives and under almost any parameter imaginable. Yet interpreting this data and actualizing that interpretation into action is much easier said than done. Therefore, modern companies use business mapping software to help businesses efficiently use their data and develop robust strategies utilizing that information.
Data mapping is the process that integrates this disparate and varied data into coherent information that a business management team can understand. Data mapping quantifies the data by connecting it to desired outcomes.
In other words, data mapping makes the hidden connections between different types of data visible and helps interpret these relationships. Data mapping can also effectively fuse data sets that might seemingly have no relationship to one another, thus giving executives a clearer picture of current market dynamics.
Handling Big Data with AI
Here is where most businesses miss the ball entirely. They understand that more data is a good thing, but they don’t quite get the part where you have to integrate and maybe even recast this data to make it worthwhile. This situation is where artificial intelligence (AI) comes into play.
Because the human mind is limited in the number of connections and relationships it can identify, AI is often used to harmonize a raft of data sets that seemingly have no association with one another. This is data mapping.
Data mapping is an integral step in assessing information, and it is necessary for strategic planning. That’s why many companies turn to Geographic Enterprises for their cutting-edge business mapping software that generates timely and actionable data to be used to plan their roadmap forward. Call 888-848-4436 for a free demonstration today.