How do you turn data into valuable information?

Data is created when you do something or measure something. So data is also generated when processes are running or being measured. Data is worthless without context. Before they create value, they must be interpreted in context (e.g. temperature of the oven in the bakery). This turns data into information, which is the basis for knowledge. 

Data and information help companies to better understand stakeholders, make informed decisions and optimize processes.

The increasing amount of data is a particular challenge, especially for highly automated companies. Without digital help, people are not able to convert the large amount of data from a modern production plant into useful information to make the right decisions, e.g. whether maintenance is necessary or not. This is why technologies such as artificial intelligence and machine learning are becoming increasingly important for processing data.

One example of the importance of data in a company is an e-commerce website. By analyzing data such as visitor numbers, customer purchasing patterns and customer preferences for certain products, the company can adapt its marketing strategies and optimize its product range. This can help to increase sales and customer loyalty.