SW firms need to embrace big data says tech leader

Firms in the region are losing out because they are not embracing the benefits of big data, according to a Devon-based tech leader.

DataWise Intelligence has been founded by Devon-based global technology expert Peter McCann (pictured) with a team set up at Exeter Science Park to help the region’s companies achieve stronger growth through better use of data.

Whilst many larger national and international companies are using advanced online data management services to improve how they run and grow their business, an affordable and effective approach for local and regional firms has, says Managing Director Peter McCann, until now been lacking.

“The South West has brilliant companies across many sectors but we know that not enough of them are boosting their competitive edge, and improving their sales and profitability through proper use of big data,” he said.

“It’s not about the quantity of data, it’s the quality that counts and what you then use the data for, be that better supply chain management, customer intelligence or improving your products and services. I live and work in the South West and know we have to be straight-talking and prove to businesses the very clear competitive advantages of big data that are finally real and very achievable for regional companies.”

The value of big data in the UK has reached £46bn a year, according to the Centre of Economics and Business Research, up nearly 400 per cent in just four years.(1)

Alongside the likes of the Met Office, Innovate UK and the University of Exeter, experts from DataWise Intelligence will be talking to business leaders at the innovation showcasing event VentureFest, at Sandy Park in Exeter, on Tuesday October 18.

The company, whose team also includes London and US-based experts, has developed an online cloud-based intelligence hub, combining and analysing data gathered from across a company’s different systems, with external data sources like the Office for National Statistics, the Census and social media.

The company is already working in several sectors, with a holiday theme park, online global art gallery and a charity amongst its early clients. Tourism, professional services, manufacturing, food and drink and e-commerce are amongst sectors particularly well suited to benefiting from analytical use of improved data.

DataWise Intelligence Adviser Richard Goat is convinced that combining local data and cloud services to provide real-time business intelligence, will eventually become the norm for businesses, because of the need to work smarter and be nimble with new opportunities in an increasingly competitive marketplace.

He said: “People need to be able to make use of data in their day-to-day business, whether it is a family run firm in a Devon market town, a large Cornish manufacturer adapting to new overseas markets or a Somerset food and drink firm developing new products.

“Too many organisations have steered clear of using big data because no one has been good at explaining the benefits, or has made it scalable and easy to adopt. The approach we use is bespoke but simple, future proof and easy for non-techie business people to understand and use for genuine business insight and benefit.”

In April, the Government’s Science and Technology Committee published its report on big data and opportunities for businesses, estimating that some £216bn could be contributed to the UK economy over a five-year period. (2) Later this year it will publish the National Innovation Plan, which will detail plans to put the UK at the forefront of using the power of data to drive innovation across the private and public sector.

Peter McCann, now operating out of Exeter, has worked in the UK and US on data-based solutions for businesses for more than 25 years.

He added: “It’s imperative that our region’s forward-thinking firms embrace data and technology to stay competitive, grow and reap the benefits of this data revolution that’s already started.

“Even companies with smaller volumes of customers, stock details or orders have data that needs to be aggregated, enhanced and well managed. When you combine data across every system built up over many years, and superimpose the relevant regional, national and international data from external sources, it’s amazing the insights that businesses can realise, which then flow into positive changes they can make in their business to help them grow and thrive.”

For more information go to www.datawiseintelligence.com