Big Data: Definition and Features
What is Big Data from the perspective of modern corporate systems and information technologies? Big Data is a series of approaches, instruments and methods used to process structured and unstructured data characterized by huge volumes, vast variety and constant growth. The purpose of Big Data processing lies in finding relevant information and representing it in human-understandable format, so that it could further be used for defining important trends in various spheres of life and for taking decisions based on these trends.
The definition of Big Data is articulated as the three V’s: volume, velocity and variety. Huge amounts of data obtained, unprecedented speed of data streaming and many various types of data formats are the main characteristics and the greatest challenges of Big Data.
Big Data in Day-to-Day Life
There are a lot of examples of applying Big Data methods in various spheres of life.
Mass media, for example, use Big Data techniques to estimate users’ interests and preferences, monitor social media activity and automatically prepare news-sheets or news bulletins.
In healthcare Big Data is accumulated from electronic medical records, body sensors, hospital medical devices. By analyzing such Big Data scientists can predict epidemics.
In science Big Data approaches are widely used in metrology, geology, meteorology, astronomy, etc.
Sport management is all about Big Data that helps games organizers forecast ticket sales and enables bookmakers calculate betting rates.
Big Data in Corporate Systems and ECM
We have mentioned examples from day-to-day life. Let’s have a closer look at the level of corporate systems, particularly enterprise content management systems.
We have analyzed a real company’s 20-year operation in the ECM system. The data gained from the analysis will be used for illustrative purposes.
In our previous blog about Kaizen we told you how the Japanese philosophy can help increase your accounts payable department efficiency through applying the main 5 Kaizen principles. In this blog we’ll explain you the concept of waste, its negative impacts on the working process, productivity and try to give you several tips on how to avoid it.
Kaizen is based on making little changes on a regular basis: always improving productivity, safety and effectiveness while reducing waste. The concept of waste in Kaizen is defined as activity consuming resources (time, materials, money) but creating no value.
Wastes are the drivers of excess costs, delays and quality issues. The critical problem for management is not the one of knowing how to prevent a specific occurrence of waste. Instead, the critical problem is identifying the root cause of the waste and eliminating this cause.
Looking closer at a typical accounts payable department, we can identify several ordinary wastes declining the department’s performance efficiency. We can divide such wastes into the following categories: people waste, process waste, information waste and asset waste.
Kaizen is the Japanese philosophy that focuses upon continuous improvement, seeking to achieve changes in processes in order to enhance efficiency and quality. Kaizen can be roughly translated from Japanese to mean “change for the good”. The concept of Kaizen encompasses a wide range of ideas: it involves making the work environment more effective by creating a team atmosphere, improving everyday procedures, ensuring employee satisfaction and making the job more fulfilling and less tiring.
Today Kaizen is recognized worldwide as an important pillar of an organization’s long-term competitive strategy. A lot of big and small companies across the world have adopted the Kaizen principles for doing business and running departments. In our blog we’ll examine this idea in the context of accounts payable issues.
To better understand the idea of Kaizen, we used our chance to ask Tsuneaki Sugata, Production Control Manager of Nissan Motor Company, to briefly tell us about the concept. Fortunately, Sugata-san kindly agreed to provide his assistance:
You’ve finally signed a contract with a customer. Congratulations! But it’s not the time to relax. There is still much work to be done before you see the solution operating properly.
We have put together all the experience that we have, and created an infographic showing how vendor’s emotions change during the implementation process.
The concept of Agile ECM (Enterprise Content Management) has emerged as a response to the challenges of our time. The promises of an Agile ECM system are: adaptation to a constantly changing business environment; support of new management styles and methods; and, maintaining control, having clarity, and regulating the execution of business processes and their performance. This article briefly examines the premises and structure of Agile ECM and why they are important to your company.
Every company, no matter if it is a small startup or a multinational corporation, faces the same challenge – surviving under heaps of documents and other corporate content. The documents both come from partners, regulators and other external organizations, and are created in the depths of the company. There are plenty of recipes for combatting the hydra of corporate information, but most of them just say, “Do an audit of existing documents, classify documents and compose retention policies”. Sounds good, but such recipes are too common and abstract to be somewhat useful. The main challenge is making up (inventing) your own principles of how to tidy up your documents.
Companies consider the ERP system a vital organizational tool facilitating information flow between all business functions. Enterprise resource planning, financial reporting, accounting and payroll systems comprise your organization’s ERP circle. Outside this circle information exists in various forms and states. That is why before getting into the ERP circle all data have to be preprocessed in a diversity of other systems.