Automating data collection efforts can reduce man hours by as much as 98 per cent, it has been claimed.
According to an article by Information Week, the deployment of a data acquisition system that is fully automated can help to cut business costs by a significant amount.
The news provider cites the example of TVS Motor which was able to reduce data collection time from 300 to 3.75 man hours every month.
"With the implementation, data is available online and can be accessed from anywhere within the company," the article said.
"This has also translated into considerable cost savings for the company. Prior to the implementation, 90 man hours were spent per day during the data acquisition and analysis process. Post implementation, this figure has been drastically reduced to just 15 minutes a day."
Meanwhile, Business Insider recently reported that major advances in the way in which organizations collect and store their data have taken place over the past ten years.
As a result, data sets which were previously left untapped are now being put to use by marketing executives around the world.
Posted by Richard Jones