Integrated Data Management is a Productivity Goldmine

Everyone’s talking about Big Data these days, but all the data in the world is useless unless it’s structured in a way that increases productivity and profitability.Fortunately, integrated data solutions can blend and unify data sources and business processes to save time and money.A professionally designed integrated data solution has the potential to integrate thousands of data sources.The ability to connect and track business data, including sales, advertising, marketing, finance and SEO, empowers decision makers and customer service representatives with the information they need to improve business performance.

Data Integration

The idea of collecting and tracking disparate streams of data to improve business performance can be difficult to grasp.The amount of data collected by an average business has literally exploded in recent years.Many businesses have attempted to employ data management solutions such as cloud-based applications , limited legacy systems and other out-of-the-box digital products to stay ahead of the data avalanche.For example, genomic testing companies having to house trillions of strands of DNA data for personalized medicine are finding their process does not run smoothly with access to complex data storage and analysis. Designing and implementing an effective data management interface is now a crucial component of business success.

Remaining competitive in the global economy requires business leaders to adapt to emerging trends.The integration of business data collection systems is no longer optional for large and even medium size businesses.Data integration reduces labor costs and improves profit margins.The cutting edge of effective data management varies from business to business.A comprehensive approach to data integration is essential.Relying on one-size-fits-all data management products is likely to yield minimal results and increase long-term costs.

Organizational Goals

When business leaders establish clear goals related to business performance, they have a much better chance of arriving at a desired destination.Data integration is an essential aspect of attaining organizational goals.It’s rare that a company IT specialist possesses the skills and experience necessary to merge data collection sources into a unified decision making tool.Establishing a long-term relationship with a professional data integration solutions company is a more reliable way to develop a customized data integration system and achieve organizational goals.

Data integration is a proven means of eliminating data handling and enhancing organizational productivity.Well designed eCommerce solutions allow company leaders and representatives to focus on product and customer development rather than data mining and archiving.The industrial age was characterized by important developments in automation.Some things never change.A revolution in digital automation promises to change the business world forever.

Business Solutions

Increasing business efficiency makes it possible to get more done without adding more employees.Investing in productivity solutions is the key to continued business success.Data flow efficiency is a fundamental aspect of business success.This requires a willingness to listen to data integration experts and adopting a long-term approach to data management.When it becomes obvious that existing data management systems are hindering productivity and business performance, it’s time to consider the available options.

Data management systems don’t last forever.That’s why it makes sense to design a flexibleintegrated data management system that meets current needs while preparing for the future. There’s nothing more frustrating than a do-it-your-self system, plug & play integration application or add-onproduct solution that is incapable of keeping up with the volume of a growing business.It doesn’t take long for an aging legacy system to break down just in time for someone to hit the panic button.It’s time consuming and expensive to catch up with the digital age after falling behind.That’s why it’s best to stay ahead of the digital game by investing in a comprehensive data integration system.

Data Touch Points

The number of data collection touch points in an average business is astounding.Designing an efficient map that allows data to flow efficiently and be made available to key organizational stakeholders is a productivity goldmine.Always remember that the purpose of a data integration system is to accomplish important business goals.Data flow is never a finished product.A data integration system must be capable of adapting to market trends and revised business goals.Developing an ongoing relationship with an experienced data integration company allows the flow of business data to evolve naturally.

The flow of data encompasses so many digital languages.Connecting the flow of transaction data in a standardized way has the potential to invigorate any business.Whether a data management system integrates applications within a business or connects with external partners, converting and standardizing file types will ensure the viability of business data.Converted files, including PDFs, XML, EDI, hadoop and excel, makes it possible for businesses to import and export data in a standardized file format.

Improving business productivity and eliminating human error are only two of the enormous benefits associated with a properly designed integrated data management system.Under-investing in integrated data management is a costly mistake.The number of data touch points necessary to operate a profitable business in the digital age will undoubtedly continue to escalate.Deciding to learn about the available strategies for integrating data streams is a sound business decision.

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What is it Like to Win the Business Achievers Awards? – Paul Brophy, Paul Brophy Produce

We talk to former winners of the Ulster Bank Business Achievers Awards to learn more about how winning the award has impacted their businesses.

In this post we speak to Paul Brophy of Paul Brophy Produce.

Remember, the closing date to enter the awards is Friday 25th September 2015. You can enter your business here.

What was your start-up day?
The business started in 1983, so we were slow developers, not an overnight success but it proves the point “good things come to those who wait”.

What motivates you?
Building a better company, having more customers, adding more value to our products, building my skills and abilities as I develop as a leader.

What keeps you up at night?
I am able to detach myself from all the stresses of the day by immersing myself in a good book.

Paul Brophy, Paul Brophy Produce

What’s been the most surprising part of running the business?
The buy in and enthusiasm from key staff all wanting to go the extra mile to be part of a winning team.

What’s been the most challenging for you?
The transformation from a small enterprise to a larger one. Making the vision a reality.

And the most rewarding?
Living the dream. Ten years ago I could not have even comprehended being where I am today.

What is one mistake you’ve made, and what did you learn from it?
I made a quick decision once on a critical matter and was wrong, it cost the business a lot of money. I learnt a lot from that mistake. The lesson learnt was to think through all key decisions and the quality of these decisions are greatly improved if made with a small group of key stakeholders. As George Bernard Shaw said “ A life spent making mistakes is not only more honourable but more useful than a life spent doing nothing.

What are some of the characteristics of people that have been successful at your company?
They make decisions quickly trying to exceed our customers’ expectations, agility is one of our traits. They all possess the ability to tolerate intelligent failure and never see risk taking as a career limiting move.

What are you most excited about for the future?
The rapid advances in the internet of things, the changes precision agriculture are bringing, where evidence based decision making will bring the industry to a new level really, enthuses me. Change and challenge creates opportunity, as a business we must embrace this as we cannot become what we need to be by remaining what we are.

Any amazing families, partners, friends behind the scenes you’d like to thank – how did they support you in the early days?
No one ever told me I was mad even though they secretly probably thought so. My Wife for her patience and close family for their support. Just being told you are doing great things reinforces you through the dark days.

What doors has winning the Business Achievers Awards opened for you?
The industry I work in (Horticulture) is a very small one, it did not take long for the word to spread among the key players not only in sales but in purchasing companies all wanting to be working with winning partners, as the mantra says “success breeds success”

What was the biggest benefit for you winning this award?
The exposure: when you are dealing with multiples the buyers all like to drive a hard bargain, but there is also a deep rooted need among them that they want to be dealing with the best companies to do a particular job, this has reinforced that need.

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How To Start A Successful Online Business

Whether you’re looking to get away from the 9-5 grind or earn a part-time income to supplement your salary, starting an online business can be extremely rewarding. Unlike brick-and-mortar businesses that require heavy capital investments upfront, business ideas such as a new blog concept or offering freelance services are relatively cheap and easy to build. Here are 5 essential steps to Start A Successful Online Business.

1. Build A Blog or Website

It isn’t the 90s or early 2000s where a blog was optional. If you want to establish credibility for any business, you have to build a blog. And fortunately for non-technical business owners, a blog no longer requires HTML, CSS, PHP, or an in-depth knowledge of any coding language.

Enter WordPress – the most popular blogging software in the world. In fact, your very own Small Business Can is built on it and see how professional it looks! There are dozens of great tutorials and guides that can teach you how to start a blog online.

2. Content Marketing

Content marketing refers to the concept of creating valuable, interesting content for your visitors as a means of indirectly marketing your products or services. Content marketing serves multiple purposes, but the following are the biggest benefits:

Developing trust. Publishing quality content allows you to demonstrate your expertise and credibility without being arrogant or making the hard-sell. By addressing their concerns through “how-to” guides, readers and potential customers begin to trust your industry knowledge and insights.
Build exposure. It’s hard to get people to link to or visit your website if all you are trying to do is sell them something. Why should other bloggers send their hard-earned traffic to your blog so you can make money? If they do, it’s called advertising and they will charge you. However, if you have unique content that might prove valuable to their readers, it is in their best interest, as an expert in their industry, to be aware of helpful publications.
SEO benefits. If you don’t already know, aside from cold-hard cash, links are the biggest online currency because search engines like Google use them as editorial votes to rank web pages. As you build your website’s credibility through links, you eventually start to earn organic search engine traffic from relevant keywords. For example, if you write a very high quality blog post on “How To Invest For Retirement”, you may end up ranking for the term “Investing For Retirement”, which is searched 720 times per month world-wide in on Google. As your rankings improve, a majority of those visitors may end up visiting your site.

3. Leverage Social Media

Social media is a great equalizer in the sense that anyone can become an overnight “celebrity” with the right Tweet, Share, or Pin. Due to the growing popular and user levels on social platforms, this free traffic source is difficult to ignore. However, bloggers and business owners must know where to find their target demographic.

For instance, LinkedIn might be best if your business targets professionals and a B2B audience. Instagram and Pinterest are great for image-friendly blogs, especially catering to women. Facebook is usually best for B2C niches and Twitter is ideal for news and current events.

Knowing where to invest your energy and resource is critical to reaching your best potential customers.

4. Be Consistent and Patient

Forget the Dot Com millionaires who enjoyed overnight success – those days are long gone. Making money online is just as competitive, if not more competitive, then any other industry given that the barriers-to-entry are exceptionally low. Nonetheless, there is still room for new success stories and bloggers looking to build an empire.

You just need to stay consistent and expect your online business to be a long-term investment of your time and energy. If you are doing something special and unique, you will eventually be noticed. Like anything else in life, the things worth doing take time to develop into something great.

5. Be Creative and Take Risks

When people think of innovation, they think of big technologies companies coming up with revolutionary ideas and concepts. But as a small business owner online, you have an opportunity to do something creative as well. Analyzing your competitors and copying their content or offerings will not get you noticed.

Instead, you can change an industry model to challenge established business practices, take a controversial, yet enlightened stance on a public issue, provide the absolute best quality services and products in an industry, etc.

Whatever you end up doing, always strive to be proud of what you’re building. The passion, determination, and goodwill will become apparent to your loyal readers and customers.

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What is it Like to Win the Business Achievers Awards: Ronan Clarke, Smarter Surfaces

We talk to former winners of the Ulster Bank Business Achievers Awards to learn more about how winning the award has impacted their businesses.

In this post we speak to Ronan Clarke of Smarter Surfaces.

Remember, the closing date to enter the awards is Friday 25th September 2015. You can enter your business here.

What was your start-up day?
We started trading June 1st 2012, although we spend two and half years prior on R&D, to develop the first of our products, Smart Wall Paint White.

What motivates you?
Achieving our goals, when we hear from customers in different countries telling us how the products we make here in Ireland are impacting their organisations. Seeing how our team has grown and developed.

What keeps you up at night?
Denise and I as business partners are constantly discussing things like “are we missing something here…….. Are we making the right strategic decisions”

What’s been the most surprising part of running the business?
The international growth for us has been great now in over 35 countries on 5 continents. We are often surprised at the far-flung locations where our orders and partners come from.

Ronan Clarke, Smarter Surfaces

What’s been the most challenging for you?
We have a team of great of people that are so committed but it’s been a challenge getting it right as the business evolves.

We consider our distributors as part of our family and we put a lot of time into these long-term relationships. We are dealing with a lot of different cultures, these relationships take nurturing.

And the most rewarding?
The wins – whether that’s a new distributor, a win for one of our distributors, a great sale or a product breakthrough on the R&D side.

What is one mistake you’ve made, and what did you learn from it?
We made a couple of poor distributor choices in the early days and it took some time to correct those.

What are some of the characteristics of people that have been successful at your company?
We are an entrepreneurial company and it’s very fast moving so the people that excel here are motivated, smart and able to adapt. It’s an enjoyable place to work but the pace is not for everyone.

What are you most excited about for the future?
As a management team, for us it’s all about scaling. We get a buzz from identifying the potential opportunities, whether that’s a market or a product and making it happen.

Any amazing families, partners, and friends behind the scenes you’d like to thank – how did they support you in the early days?
When Denise Doran came on board as a shareholder and director working alongside me, it changed the business completely. She brought global corporate experience whilst I was at incubator stage and this has had a huge impact on transforming the business.

What doors has winning the Business Achievers Awards opened for you?
We have had great positive feedback from people after winning the Business Achievers Award not just here in Ireland but also abroad, particularly from the Irish Business Community internationally.

What was the biggest benefit for you winning this award?
There are many benefits. From increased confidence within our team to recognition globally which helps our partners know they are working with an award-winning company and contributes to new distributors choosing to work with us. It’s also a milestone for us to move onto our next ambitious goal. So in summary, so many benefits.

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How Tech Companies are Disrupting the Auto Industry

n 1956, GM released a video entitled, Keys to the Future, that boldly predicted driverless cars in 1976. Although it is nearly 40 years later, driverless cars are being tested and will soon be disrupting the auto industry and transforming our society as we know it. While GM made this bold prediction of the future of cars, it was not until the tech world branched out, created the Internet of Things that they became involved with car manufacturers. In creating Smart Cars, the GM vision will soon become a a reality.

Tech companies pairing up with car companies

While Google has spent the past year openly working with Lexus in creating an autonomous car, other tech companies have also been working with car manufacturers. For example, Swedish tech giant Ericsson has been working with Volvo on their award winning innovation. By using integrated cloud based applications for navigation and music streaming, they are already taking their cutting edge technology and incorporating it into Volvo cars. There is a lot of speculation that Apple is getting into the Smart Car market, yet the rumors of pairing up with BMW have been unfounded. Until Apple partners up, their apps will be used but they will not be in the Smart Car market.

Cost of owning a car

Currently, Smart Car technology, led by tech companies, is infiltrating the latest vehicles. Eventually, these driverless cars will change what we pay for a vehicle. The early driverless cars will be a bit like a taxi service or car sharing. There will be an app on your Smartphone to call for transportation. Responding to that app will be fleets providing mobility services for anyone who needs to go from point A to point B. Those who own their own vehicle, and not use the self driving option, will possibly have different online insurance quotes than those who are driving the Smart Car.

Car design

As the function and user experience of vehicles will be changing and evolving, technology will influence the design of Smart Cars and this will continue to evolve. As passengers will be traversing in Smart Cities, the need for a vehicle that moves at high speeds will be diminished. Thus, the design of vehicles will reflect the need for shorter, slower city journeys. Electric driving cars will be essential to creating a driverless city. In addition, with the advancements of Graphene and other materials that could make vehicles lighter. Most of all, fuel types could potential change with Smart Cars.

Parking

How tech companies upgrade self-parking functions will determine the ease in which the Smart Car will park. As sensor data improves, parking will be faster and smoother.

Safety

As utopian as driverless cars may seem, this technology has quickly evolved, and is estimated to be available to everyone in the next three to five years. Perhaps the biggest anticipation is how safe driverless cars have become. After millions of miles of testing, the only driverless car accidents that have occurred when vehicles, driven by humans, have run into the driverless cars and caused the crash. Because there will no longer be drivers, only passengers, this will take away the bad decisions, the emotion, and the occasional aggression associated with driving.

In addition, some vehicle manufacturers, such as Volvo have also worked on technology that would prevent accidents between cars and bicycles. Not only will automobile to automobile crashes be eliminated, but automobile to bicycle vehicles will be eliminated.

Environment

With less vehicles crowding the road, and as technology companies transform the design of vehicles that will be lighter and more capable of using alternate, cleaner energy, this will improve air quality. In fact, Google Smart Cars have been quietly testing the environment by using air quality detectors in some of the Smart Cars.

With fewer vehicles crowding the road, and as the design of vehicles will be lighter and more capable of using alternate, cleaner energy, this will improve air quality. Most of all, these types of fuel could potential change with vehicles as well. Electric driving cars could be essential to creating a driverless city, but other clean technologies may become more practical.

Soon, your car will be connected to everything with sensors. Drivers will relax as the car safely drives them to their destination. We have tech companies to thank for this. They give automobile manufacturers the ability to realize their dreams.

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10 Must Know Tips for Selling your Startup

Your business is likely your baby: you’ve nurtured it, cared for it and experienced sleepless nights, early mornings and late nights in an effort to build a viable business. So it’s then only right that when you come to sell your business that you secure both a fair price, as well as the reassurance that the person or company that you’re selling to will take your carefully grown business forward. So here we take a look at seven savvy, must know tips for selling your Startup business and paying the process the due diligence that it commands.

Show sellers your most promising figures

When selling your business you’ll need to provide a comprehensive set of figures that cover everything from profits through to revenue and onto costs. What’s key to grabbing attention however is to highlight the most promising of these figures to demonstrate just what your business has achieved. You may want to speak with an accountant in order to achieve this whilst still maintaining transparency throughout your figures. Here are some good tips.

Be sure to highlight the transferability of the business

Potential buyers will want to know that your business will operate as it should when and if it comes under their care. So always be sure to explain any training or support you’ll provide.

You should also highlight your marketing efforts and the ways in which you establish leads, sales and, consequently, ongoing revenue.

Be prepared

Being prepared to sell is half the battle of selling, particularly when there is so much information to present and so many figures to gather. Generally speaking you should ideally want to begin preparations for a sale 12 months before hand (although this will, of course, differ depending upon the size of your business, your industry type and the number of due diligence tasks to be undertaken) according to Aperio Intelligence.

Demonstrate your growth consistency

A company that can demonstrate revenue that promises to grow consistently, rather than revenue that merely manages a constant plateau, is always going to be of the most attractive proposition. So be sure to highlight figures that demonstrate your growth and back them up with a growth plan for buyers so that they can see the tangible steps required for continuing in your successful footsteps.

Appreciate the pace of acquisition

Buyers want to know that should they decide to forge ahead with the purchase of your business that the transition will move swiftly. So be sure to highlight your readiness to sell and have an idea of the practicalities to cover the transfer of business along with the associated estimated timescales.

Understand the importance of expert input

Selling a business is a legal process and one that can demand a range of specialist skills, from that of an accountant, right through to a solicitor. However it can be all too easy to become bogged down with expert input, from those that may advise on preparing for acquisition right through to marketing guidance. So choose carefully and appreciate the areas where you truly need an outside helping hand. Here are some legal tips.

Undertake an overhead review

Considering your monthly costings and attempting to drive them down will make your business both more attractive as well as financially more robust. So comprehensively review all of your outgoings and operational costs.

Be prepared to safeguard your intellectual property

Are your products or services adequately protected? If you’re unsure then it may be worth seeking out legal advice, particularly if you work within the realm of technology (or use it as a key differentiator) where protection can be a decidedly tricky business.

Consider the sale of your business as a whole new marketing effort

Just as you’ve marketed your products or services now is the time to market your business. Of course the exact tact that you adopt will depend upon your business and industry type, however generally speaking there will be an online platform out there to advertise your business as on the market, which should serve as your first step towards sale. Beyond this you should perfect your business information pack and be prepared for plenty of inquiries, questions and queries.

And finally… consider the timing of your sale

Before moving ahead with the sale of your business it is worth considering whether now is the right time to sell or whether, given 12 months, you could grow your business figures to boost your sale value.

These 10 tips will make selling your start up a lot easier and ensure you get the best possible deal.

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How to Advertise your Brand on a Budget

Small businesses have a need for powerful advertising as much as any other business.

Exhibition stands have the power to enhance your image and make yourself visible to your target audience. Aside from introducing your products and services in an eye-catching and memorable way, smart exhibition stands can also help to generate sales leads.

Using exhibition stands

Whether it’s trade shows, shop stands or pop-up displays, Display advertising (phyiscally) is often a very effective route. Assuming you’ve hand-picked the right marketing events and conventions to engage your target audience that is. I also recommend you check out expressexhibitiondisplays.co.uk’s cheap exhibitions stands, they’re the price leader when it comes to quality display gear, definitely an excellent way to secure powerful advertising for your brand on a budget.

Trade shows

Trade shows offer a perfect opportunity to advertise your brand using attractive exhibition stands that don’t have to blow your budget. You can easily create a display that

Trade shows can be a very powerful marketing medium due to the fact that they bring thousands of potential customers directly to you. Consider what trade shows may be worth attending in your industry, and request media kits for each show so you can decide if it’s right for your brand.

Above all else, trade shows are a fantastic way to keep up with competitors and get your name out in circulation. It doesn’t have to cost the earth to get a fantastic display. Simply opt for a tablecloth and accessories that represent your brand’s image or match your brand’s colours, and this will help your exhibition stand to pop.

Pop-up displays

Another great way to make use of exhibition stands is pop-up displays. Whether on the street or in a shopping mall, brightly coloured and exciting displays attract immediate attention without the need for a big budget.

Consider implementing an interactive element in your display, such as a video playing on a loop, or a short PowerPoint presentation, which is something you can also promote on your social media channels. Less is more in this regard, so make sure that you use short, sharp bursts of text and colour. You don’t want to overload your audience with information, you just want your brand’s image to shine through and be memorable.

It’s a good idea to include pictures, bright colours and a snappy slogan – this makes your display easy to digest as potential customers are passing by.

Promoting your brand

An exhibition stand is fantastic when it comes to grabbing attention, but what to do once you have the attention you want? It’s important to be able to follow up on this by giving your potential customers something that will ensure they keep you in mind.

Promotional material such as flyers, business cards and even pens don’t cost much to produce and give you something to hand out to people who stop by your stand. Consider fun giveaway items too, such as magnets, postcards or even sweets. Anything that ensures your brand is remembered is positive.

Overall, you don’t need to spend a fortune to advertise your brand and ensure it stands out. The right exhibition display can be a powerful tool to help launch your brand and make it stick in the mind of the consumer.

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PR Metrics You Need to Share with your Team

The PR metrics that you should consider sharing with your team are based on the objectives of your business. PR is a tool for communication designed to help you meet your business objectives. Within PR, spending a significant amount of time on tracking metrics is necessary in order to communicate the value of this function.

Determining Metrics

Revenue is among the top metrics that require close monitoring along with others that can help you reach your full potential. When you measure PR efforts in an accurate and efficient manner, you are in a better position to link them directly to how your customers behave.
Technological advancements have made it easier for PR professionals to capture PR metrics that add value.
When considering which PR metrics to share, it is important to understand why PR is taking place. PR is an investment typically made to address the need to make your audience do something or react in a certain way.
Desired actions from customers range from making purchases to filling out forms. You may also want them to distribute your content or go to your site for information. Such activities will help you determine which PR metrics will be most valuable for you and your team. The metrics should have poor definition in order for you to be able to gauge the success of your business.

Revenue

Revenue is a value and data driven metric that needs to be visible. It is important for you to determine how you can stimulate growth that will lead to an increase in revenue. For businesses that engage in ecommerce, various campaigns can be useful to drive sales.
If you operate an online business, aspects such as content, social media and emails are essential. These efforts need measuring to find out the number of leads and conversions generated.
Online resources are available to help you know where your traffic is coming from as well as the likelihood of conversions. Invest in the resources that you need to monitor your public relations efforts and note how much revenue the business earns.

Sales Conversions and Leads

Some PR strategies focus on converting site visits into sales opportunities. PR campaigns have the potential to create an increase in sales conversions and leads. PR aim at showcasing brands positively and conveying the company’s area of expertise. Measuring leads is a good metric for PR efforts.

Mentions

Mentions indicate how many times your brand has had a referral it within a specified period. While some PR professionals may be skeptical about the value of mentions, the reality is that the number of mentions helps you know how effective your communication has been among influencers.

The impact of your activities on how often your brand gets a mention or trends is a useful way to track your PR results. It helps you understand how successful your messages are in comparison to your competitors.

Audience

Audience is an important metric that shows you how many people link to your brand. People such as visitors to your site, followers on social media platforms and subscribers to your blog let you know if you are on the right track. Monitoring the growth of your audience enables you to know if you are using the right strategies.

ROI

Return on investment or ROI is a valuable metric when determining PR success. It can often be challenging to calculate but it is necessary for establishing how PR benefits translate into business profits. Analytics software is usually the best way to keep track of ROI related metrics and measure PR effectiveness. Some PR platforms have built in reporting or analytics sections where data for such ROI calculations can be extracted. Other standalone analytics platforms such as PanXpan have specific modules that allow for ROI and PR effectiveness to be tracked. ROI can be tracked through measures such as CPM (cost per thousand reached), cost per conversion or the cost to generate a dollar in revenue.

Impressions

Impressions on social media are readily quantifiable when measuring how successful a PR campaign is. Links to websites and social media pages make it possible for users to interact regularly. This type of interaction provides PR professionals with the chance to measure their efforts in a timely and precise manner.

Impressions give insight into the number of times users view a particular message. They are important because they can create awareness.

Remember to Share

After defining your metrics and investing in the tools you need to measure them, it is important to share them with your team. Make sure that the set metrics are manageable and will add value to your organization. Metrics are a useful component of the learning process within an organization.

Communicate with other members of the team about the progress made. Progress should undergo regular review while sharing different experiences and challenges along the way.

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Looking For Your Company’s Data Analyst? Here’s What You Need To Know

Data analysts, or more fancily called as data scientists nowadays, have become essential people to have in expanding businesses. Despite that, the employment rate growth for this occupation is rather slower compared to other office-related jobs. However, they are one of the few who enjoy handsome salaries. And unlike other office personnel, data analysts usually dictate the future of the companies they serve.

The job of a data analyst is to assess, organize, and gather data from different resources. They use the data to formulate useful and possibly important information. Mostly, data analysts are involved in product research and development, and market trends and conditions analyses.

A data analyst candidate must have a four-year university degree related to computer science, business administration, math, and statistics. They need to be knowledgeable of statistics, data management, computer science, and data analysis tools and software applications such as Microsoft Excel and Tableau on Hadoop.

In addition, the candidate must be familiar with the most common data format types such as XML, JSON, and RDF. To some extent, he or she must be familiar with using programming languages in order to create data analysis solutions of his or her own and improve the functionality of the data solutions that you use.

Translating data into layman’s terms

The candidate must be an expert when it comes to translating data and information in layman’s terms. He or she must know the easiest and fastest ways of distributing important information. He or she must be an expert when it comes to creating and interpreting graphs, data mashups, scorecards, and dashboards.

When it comes to skills, data analysts must be detailed-oriented; if possible, they must be a bit critical. Of course, mastery of intermediate mathematics is mandatory. In large-scale companies and systems, a data analyst must be also capable of handling databases, employing data management concepts, and troubleshooting database structure problems.

On the other hand, people who have experience as operations research analysts and market research analysts are good candidates to apply for data analyst jobs.

When hiring a data analyst candidate, one of the most important questions that you should put on the table is how many data management applications the candidate knows and has used. Do they know some of the few most used applications in data analysis such as Spark and Tableau on Hadoop? Do they even know how to take advantage of scripting languages such as Python to manipulate and handle huge streams of data?

Data gathering and management

Unlike before when casual data analyses for businesses were done with pen and paper (and with little input to a computer), data analyses now happen inside the analyst’s computer. The massive influx of data that companies receive every day has caused analysts to rely on automated data gathering and management software programs.

Alternatively, the candidate must be capable of sorting out the data and creating quick decisions on whether a piece or set of data is useless or useful. After all, before the analysis of data starts, it is essential that the analyst have the right data at hand.

Aside from that, it is important that you measure the candidate’s logical and creative aptitude. The most common test to measure a candidate’s thinking skills is asking them how much marbles are inside a jar. The number of marbles does not matter first. What’s important is the methodologies the job candidate used to come up with the answer, the considerations he or she included, and the confidence he or she has with his explanations. And just for fun, you might want to ask what is the next winning lottery number combination.

If all the candidates were able to impress you with their answers and their background, then it will be up to the final test. The final test is to know how much information they have in your company and the nature of your business. That will be the decisive factor if the candidate is fit to have the job.

Picking the right candidate for the job is crucial. After all, you will be entrusting the future of your company or department to that person. Data analysts are the ones that can help you move your businesses upward. They can solve internal and external business problems and even identify them before they happen. You can also get your analyst to help you figure out your business if you do not know what is going on in or with it.

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InterTradeIreland Q2 Business Monitor: 83% of Firms Stable or Growing

InterTradeIreland’s Q2 Business Monitor Report: 83% of firms across the island either stable or growing as all-island recovery continues but at a slower pace.

Recovery continues

InterTradeIreland’s latest quarterly Business Monitor (April – June 2015) has highlighted that 83% of businesses on both sides of the border are either stable or growing, which is down five percentage points from Q1. It also reflects that firms are continuing to experience recovery across the island, albeit at a slower pace than in recent quarters.

Northern Ireland firms in growth mode catching up with Ireland

Over the last few quarters, businesses in Ireland were clearly outperforming local NI firms but figures from the Q2 report indicated more of a convergence between the two jurisdictions, with 40 per cent of firms in the Republic in growth mode compared to 36 per cent of businesses in Northern Ireland.

Larger firms driving recovery

Recovery is in place for the majority of firms, but this is happening relatively slowly with less forward motion shown this quarter. InterTradeIreland took the opportunity with the Q2 report to look at what type of firms are driving growth and what they are doing differently or better. Although moderate to rapid growth was found in businesses of all sizes, types and sectors, it was especially prevalent among larger firms.

Exporting and innovation important factors

The report confirmed that those firms that are exporting and those who take a more strategic approach to growth, such as having a formal business plan in place, were more successful. It was shown that three-quarters of moderate to rapid growth firms introduced new or improved products or services and 62 per cent implemented new processes, machinery, equipment or tools, showing that businesses that are innovating and doing things differently are three times more likely to grow.

Excellence in innovation processes, culture and skills is at the core of rapidly growing firms with these businesses more likely to have dedicated R&D staff and a more formal process in place for managing innovation than non-growth firms.

More than half of firms have the ambition to expand

53% of non-growth firms share the ambition to expand, but need support from agencies such as InterTradeIreland to help them take advantage of cross border opportunities allowing them to overcome specific capability deficiencies in areas identified by the study and translate that ambition into reality.

It is vital that business momentum picks up more quickly if the Executive is to achieve its economic objective of rebalancing the economy. However, when you look back to this time two years ago, progress has definitely been made with only 64 per cent of businesses stable and growing back in Q2 2013.

InterTradeIreland’s Business Monitor

InterTradeIreland’s quarterly Business Monitor survey is the largest and most comprehensive business survey on the island and is based on the views of more than 750 business managers across Northern Ireland and Ireland. It differs from other surveys in that it is seen to be the ‘voice of local businesses’ feeding directly from telephone interviews conducted with a robust sample of firms of all sizes across a range of sectors to track all-island economic indicators such as sales, employment, business outlook and other specific topical research areas on a quarter by quarter basis.

Further information

For more information on InterTradeIreland and their business support programmes, please visit www.intertradeireland.com.

A video and copy of the 2015 Q2 InterTradeIreland Business Monitor Executive Summary can be viewed here.

Post by Aidan Gough, Strategy and Policy Director at InterTradeIreland

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