Unless the data you collect makes your business more responsive, efficient and profitable, it isn’t delivering the value that it should. That shortcoming, for most businesses, is a result of a limited rear view mirror perspective.
River Point Technology’s 360° data management system is a real-time lens that allows you to optimize your responsiveness. Whether you’re monitoring inventory, purchasing, operations, customer satisfaction, financial transactions or any number of other variables, real-time data management is sure to give you an edge over your competitors.
River Point Technology’s 360° real-time data management equips you to:
Businesses don’t always consider the volume and types of data that are being generated and stored by their organization every day – data that comes from HR, marketing, operations, finance and more . This oversight costs companies money in terms of lost business opportunities and increased risk.
Businesses often have difficulty managing the volume of data generated and stored by their organization every day – data from HR, marketing, operations, finance and more. And volume without management is risk.
Inaccurate data is another all-too-common and expensive problem. In fact, most businesses are storing more and more inaccurate data each day, with error rates topping 30% for some types of information.
Every company needs to maintain adequate and organized storage and keep their data secure.
That might sound obvious, but it is more of a challenge than most companies realize. By 2020, businesses will experience a six-fold increase in data accumulation , and many will not be prepared to handle all of that data.
One common problem: continually upgrading storage can get very expensive and create business disruptions.
Evergreen storage grows right along with your data. This “forever storage” solution is part of River Point Technology’s comprehensive data management strategy. You can continue to access on-site storage, and you pay only for the cloud real estate you need at any given time. When you need more space, you simply transfer more data to evergreen storage with no migration hassles, business disruptions, or costly storage upgrades.
River Point Technology charges a unique flat-rate cost structure for evergreen storage. By paying only for the cloud real estate you own, you can reliably budget and prevent painful sticker shock.
Will ensure that you only collect accurate and non-redundant information that will be useful to your business. Otherwise, you’ll be wasting money on storage that could be put to better use.
Data is one of the most valuable assets your company has because it can guide your decisions about customer satisfaction, operational inefficiencies, risk tolerance, market appetite, predictive maintenance and so much more.
Surprisingly, most businesses utilize only 10% of their available data. As the volume of data continues to grow, companies that have not yet invested in a long-term data management strategy will be inundated with unmanageable, unused data.
One way to move ahead of your competition is to harness the power of your data. Imagine the dollar value of additional market research, customized marketing efforts and increased sales opportunities. All of these are potential outcomes when you strategically analyze your business data. (Research shows that data-driven organizations are in a constant state of improvement)
Companies collect data for all sorts of reasons. To date, the focus has been on structured data related to inventory, financial reporting, customer buying habits, and other operational aspects of the business.
The Internet of Things is creating new data, but few companies are making use of it. A few sources include web logs and sensors. The volume and value of this unstructured data will clearly increase along with continued trends in Big Data.
Our Financial Risk Assessment found weaknesses in this client’s IT infrastructure and internal practices. We recommended several fixes that helped the company increase efficiency, reduce costs and bring them one step closer to achieving their financial objectives.
A local financial institution faced immediate challenges when they prepared to initiate a deep-dive financial analysis. Years of reliance on decentralized storage and a lack of consistent internal data management practices prevented them from conducting an “apples-to-apples” comparison of historical and current financial information. The company achieved immediate cost-savings by implementing new efficiencies, and the capability of long-term analysis has improved fiscal management for the institution as a whole.
River Point Technology performed a Financial Assessment to evaluate the company’s current IT infrastructure and internal practices. The assessment also took into consideration the company’s objectives and industry-specific factors. River Point’s real-time 360° data analysis equipped the company to gather, store and analyze data. Results were the ability to achieve immediate cost-saving efficiencies and long-term analyses to improve fiscal management of the institution as a whole.
Says the company’s CFO, “Obviously we should have invested in a more comprehensive data management assessment and strategy long ago, but we didn’t. Thanks to River Point Technology, we are now on track in every regard. Their analysis and solutions are already contributing to better decision-making on our part.“
When we see a company wasting 99% of its existing data, we have to do something about it. Our DATA MRI is the perfect starting point. By the time we’re done, company leaders are relying on data analysis to drive sound business decisions.
Two regional manufacturers were encountering similar limitations as they attempted to digitize their operations.
A DATA MRI revealed that each of the manufacturing companies was disregarding 99% of its data before it ever reached decision makers, primarily because neither company saw the need to invest in adequate storage and analysis tools. River Point Technology ‘s evaluations indicated that both companies were missing out on significant opportunities to increase efficiency and drive profit.
Manufacturing Company A decided to prioritize the use of data to maximize the efficiency of their supply chain. By generating, securely organizing and analyzing new streams of data, they were able to decrease the expense of raw materials, reduce inventory and expedite product delivery. The resulting annual savings is projected to reach more than $500,000 annually.
Manufacturing Company B elected to use competitor and internal data to push new product development that would open new streams of revenue. The ability to maintain a 360° real-time view of data provided a window into an ongoing market response that guided marketing and operational decisions.