Data Production vs Data Consumption: Becoming a Data Consumer
Data management is a complex, time-consuming task, requiring a great deal of employee time. Companies want to make sure they are leveraging their data to make the most of their business intelligence. Offices tend to be divided into two separate camps: data production vs data consumption. Your company should be consuming data, not producing it. Furthermore, you want a solution to ensure that data works for your company and that your company does not have to work too hard to mine data.
InStream’s intelligent capture technology will automatically extract relevant data from your documents and then migrate that vital information directly into your workflow systems.
What is Data Production?
If your company produces more data than you can efficiently manage, you are known as a data producer. Data producers tend to have repositories filled with duplicate files and overgrown archives. In these environments, data is neither scalable nor flexible. Employees waste hours trying to retrieve data and make sense of it.
It is very costly to be a data producer. Data production is a drain on employee time and company resources. Your firm’s revenue stream lies in data consumption. Becoming a data consumer means that your company will gain a significant competitive advantage. Easy retrieval and improved visibility will allow your team to discover previously hidden insights regarding everything from customer service to pricing to competitors. You will be able to eliminate manual data processing expenses while strengthening your business intelligence.
InStream has helped companies across industries utilize InStream’s RPA3AS for supply and demand planning, work order management, refunds and returns, freight management and much more.
What is Data Consumption?
Data consumption will lead to a whole new revenue stream for your company. Equip your team with fast, accurate data for smarter strategizing and improved decision making. Your company will save time and money previously spent on data production.
Improved data analytics will provide your team with a better understanding of market trends and business processes. You can focus less on managing your data and more on using your data to strategize efficiently.
Data Production vs Data Consumption
Transitioning from being a data producer to a data consumer will enhance your processes, providing a framework for successful business strategizing. Enhanced data consumption will drive your business forward with smart, accurate data. Time is money, and if your employees spend too much time mining for data, then it is time to become a data consumer. Advanced-Data Capture will capture and index all relevant company data, so you can accelerate business processes and implement new plans.
Controlling Company Data
To learn more, contact InStream today.