Big data technology has become very popular and beneficial for companies in all sectors in 2024. The average company that invests in big data expects a return of $7 for every $1 they spend.
However, many companies are struggling to develop successful big data strategies. One of their biggest challenges is figuring out which tools to utilize to get the most out of their investments. This process is becoming easier, as a growing number of companies have discovered some very effective digital products and services that enable them to make the most of their data strategies.
Digital whiteboards are among the most useful solutions for companies trying to make the most of their data strategies. Of course, there are a lot of different digital whiteboards. It is important to do research on them, such as reading about Miro vs Microsoft whiteboard.
How Can Digital Whiteboards Help Companies Take Advantage of Big Data?
There are many benefits of using digital whiteboards to make the most of big data strategies. Some of the biggest benefits are listed below.
Digital Whiteboards Help Companies Take Advantage of Data Visualization
As we have mentioned in some of our previous articles, data visualization is very important for companies trying to make the most of their data strategies. This makes it easier to communicate stories based on data.
Digital whiteboards can do wonders for companies trying to utilize data visualizations. It is possible to share data through graphs, charts, and dashboards on digital whiteboards. Companies can use digital whiteboards to show trends and insights with data visualizations, which makes it easier for them to determine where they should allocate resources or what areas they need to improve on.
Bill Schmarzo, a big data experts CDO of AI at Office Whisperer, talked about some of the benefits of digital whiteboards on his LinkedIn article.
“Whiteboards, on the other hand, represent a “way of thinking” – where ideas can be quickly captured, explored, refined, morphed and possibly discarded – by cross-functional teams collaborating and brainstorming to understand and monetize market patterns and relationships, flesh out responsibilities, draft plans and create a dynamic business strategy that can be constantly tweaked based upon new market dynamics (see Figure 2).
Digital Whiteboards Help Companies Use Business Intelligence Tools More Effectively
We have written dozens of articles on the benefits of using business intelligence (BI) tools. These tools help companies understand their customers better and predict future market trends more easily.
Digital whiteboards help companies make the most of their BI tools. Many of these whiteboards can be integrated with them, which makes it easier for them to take advantage of data in real-time data.
Digital Whiteboards Help Companies Make Sure their Data Strategies Are Used Consistently
Big data can help companies increase their ROI significantly. However, they need to develop cohesive data strategies and use them consistently.
One of the benefits of digital whiteboards is that they can create clear documentation for various strategies. They are able to communicate their data strategies to other members of the organization and make sure that everyone understands them and can reference them for future reference.
Digital Whiteboards Help Companies Teach Employees About Data Strategies Through Interactive Learning
Digital whiteboards have also made it a lot easier to teach employees. They have features that make interactive learning a lot easier.
One of the biggest benefits of using digital whiteboards for data-driven companies is that they can teach employees about the data strategy, so they can use it more effectively. This is a great way for companies to ensure that everyone is familiar with the tools that help them make the most of big data in the 21st century.