Budget Alert – Should you put in place a Transition to Retirement strategy?

HIFX – INTERNATIONAL PAYMENT EXPERTLY DONE

YML Group is proud to announce a new strategic partnership with HiFX, Australasia's leading risk management and foreign currency specialist.

Big data for small business

For many years businesses have been collecting and storing large of amounts of information for further analysis. In today’s business environment the collection of data has become ingrained in the way that we work. We collect business transaction, contact and social media information as part and parcel of our work-day interactions. This data becomes extremely valuable when it is portrayed in a way that effective decisions can be made from it.

It is not the amount of information that is important. It is what businesses do with this information that matters. This data can be analysed for insights that lead to better strategic business decisions.

Recently the term ‘Big Data’ has become widely known. ‘BigData’ can be described by the following criteria;

• Volume – businesses collect data from multiple sources
• Velocity – the speed at which business systems can collect and process data
• Variety – data is collected in different formats – email, text documents, videos and financial transactions.

Traditionally the activity of collecting large amounts of data and preparing it in order to make meaningful decisions has been reserved for big businesses with even bigger budgets. Today, because the technology is readily available, small businesses can also benefit from the amount of online and offline information in order to make data- driven decisions to grow their businesses. There are several ways that your business can collect, analyse and make sense of the data you already have.

As a trusted adviser to small and medium size businesses, YML Group is perfectly placed to guide your business using the best tools to collect, understand, visualise and make better decisions with your information.

Ask to speak to your partner or a member of our Innovation Team about our exclusive “Data – Driven Decisions” workshops.

The goal is to turn data into information, and information into insight - Carly Fiorina, Former CEO of HP

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