Being part of a dynamic market can be tough and nerve-racking for the management team of any given industry. The myriad of changes and challenges thrown by the market puts them in an adverse position of making difficult and abrupt decisions. Detailed retrospection and preview of future prospects are to be done by the team while formulating strategies and tactics, as every minute decision they make are crucial to the organization’s existence. Depending on scattered and unstructured data for decision making is not the ideal way to move forward, as it can cause delays in the process and errors in their judgment. Information relevant to the concerned authority should be narrowed down and made easily available from the plethora of data rather than depending on data silos to engage in efficient and reliable decision making process.

Traditional method of handling data in paper format complicated the analysis and extraction of valuable information from unstructured and isolated paper documents. Anyhow, they had to rely on these partial information deduced from the available data for critical decision making process. Transformation of paper based database to a digital format is required to overcome these challenges. Such a digital repository can ensure the availability of structured and reliable data to the management team, ensuring informed decision making process. Thus, the transformation of conventional approaches to digital methods can make the decision making process faster, efficient and accurate.

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