Five data trends for 2015

Data analytics will be an important topic for companies in 2015.Last year, companies began to address the issue of big data and incorporate insights from data into business decisions. Take fashion retailer Zara, for example, which plans to use data and new technologies to manage inventory levels in the future to optimize decision-making processes. Every time an item of clothing is sold, information from the RFID chip will prompt an immediate reorder of the same item in the warehouse.Other companies will follow. At least, that's how the German master data management provider sees it, Stibo Systems. "However, a prerequisite for this is a fundamental change in thinking and approach. Investment in the right tools and technologies is essential.To make data a strategic success factor, it must be the focus of the corporate culture," says Managing Director, Manfred Heckt. He presents five data forecasts for 2015.1. analyticsCompanies will no longer make decisions instinctively, but will use data to underpin the entire decision-making process. Especially as insights from data become more advanced.2. brand experiencesCustomers don't care about sales channels or devices. They expect the same brand experience regardless of how they interact with a vendor. Whether they buy a product on their tablet, on their computer, or in-store: Customers want access to the exact products and brands they trust. Apple has seen great success with its seamless ecosystem, as users build complete systems around its products. The Apple Watch, for example, requires one essential component: an iPhone. Some features require a Wi-Fi connection with an iPhone. In other words, Apple's ecosystem is up and running. In the coming year, more brand vendors will create their own ecosystems. Investing in data software enables the implementation of multi-channel strategies that deliver the connected experiences customers demand.3. safetyData control and security are becoming more important than ever before. This is demonstrated by the privacy and data attacks that corporations like Sony Pictures and Snapchat have faced in the past year. Companies will quickly realize the importance of secure data services and demand better encryption.4. wearables become mainstreamCCS Insight estimates that the number of smart wearables shipped will increase from 9.7 million in 2013 to 135 million in 2018. Wrist devices will account for 87 percent of these wearables, split between 68 million smartwatches and 50 million smart bands. Wearable technology is closing the gap between indoor and outdoor and will therefore play a crucial role in the Internet of Things. Adoption of the devices will increase as consumers realize the value of the data they carry. Sensors integrated into clothing, for example, could detect an emerging iron deficiency and order foods high in iron for the connected home refrigerator to help treat over time.5. the number of chief digital officers is risingBy gaining strategic insights from data about their customers' behavior and most popular products, and likewise about when and where consumers shop, companies are able to develop their strategies based on proven insights and data. With this in mind, the position of Chief Digital Officer is being created to advance the use of data as a strategic business asset. Among his or her most pressing responsibilities will be to break information out of data silos and equip employees with the tools and skills necessary to analyze, understand and implement insights. The focus of this position will be to formulate strategies, increase sales, and optimize organizational processes through data utilization.