How To Use Technology To Improve Decision-Making

Today, the decisions company managers make are as informed as ever. This is mainly due to the massive amount of information that is at their disposal: big data. Yet at the same time, these tremendous amounts of data are exactly what makes it difficult to make decisions. For this reason, managers often fail to make fully informed decisions.

It’s no surprise that people often get scared of large amounts of data. Without the proper knowledge or tools to handle it, all of the data can look much more like gibberish than valuable information. Luckily, there are solutions to this.

By employing the correct technology, you can greatly facilitate the decision-making process within your company. Improved decision-making will lead to higher productivity, a happier workforce, and a competitive advantage. Read on to find out how to use technology to improve decision-making.

Data Wrangling Tools

Data wrangling is the process of reviewing and editing data to increase its quality and prepare it for use. Essentially it means “cleaning” the data by deleting errors and making it much more understandable. This is a crucial step to make data analytics possible. However, cleaning up data can be a very long process if done manually, especially if you’re dealing with big data.

The most basic tool for data wrangling is Excel, which you’re probably already familiar with. By setting up a special Excel spreadsheet, the data you add will automatically be cleaned according to the set instructions.

Proxies For Data Scraping

Data scraping refers to collecting large amounts of data from across the internet. Although you can do your own research on some of your largest competitors by visiting their websites and checking their products and prices, this becomes very difficult and tiresome to do when researching the whole industry. First, this is because it would take up a lot of time, and second, your IP address might get blocked at some point.

This is where proxies come in. A proxy server filters all data coming from your device and makes it look like it’s coming from the proxy’s IP address. By using special proxy servers for data scraping, you can use many different IPs simultaneously and send requests all across the internet. The result? Invaluable data on your industry in a matter of hours.

NoSQL Database

NoSQL (not only SQL) databases are new and efficient spaces for storing data. They are innovative, flexible, and can process huge quantities of data within a short timeframe. NoSQL databases are especially handy for big data storage because of how efficient they are and how well they handle data of any format.

By implementing a NoSQL database into your company, you can greatly reduce data processing and retrieval times, which will lead to faster and more informed decisions.

AI Tools

Why perform repetitive and tiresome tasks by hand if you can get AI to do it for you? AI software can be used to automate various tasks within your business, from scraping data to creating reports. The main benefits of AI are:

• Reduced time and costs. AI technology can perform tasks much quicker than humans, and you’ll save money on unnecessary workforce expenses.

• Fewer errors. Naturally, there’s always the risk of human error. No matter how qualified you are, that’s just the reality. AI, on the other hand, is almost perfect in terms of accuracy.

• More up-to-date information. AI technology can perform the work of hundreds or even thousands of people simultaneously. For instance, if you set up automatic updates for data visualizations, AI can update it as soon as the data changes, as opposed to manually checking it all of the time. 

Conclusion

Making decisions can be difficult, especially if you want to make educated decisions. Unless you want to spend hundreds of unnecessary hours picking out, cleaning, and analyzing data, you should consider using the tools listed above. Using them is pretty much inevitable if you want to get to the top of the market because of the advantages they offer. 

Once your data is properly structured and updated, you’ll see a much clearer picture of whatever you’re looking for. We hope you found this information helpful and you’re ready to take your decision-making process to the next level!