Business data communication is the process of transferring information to all stakeholders within the business. The information may come in the form of trends, statistics or other data-driven insights. Effective business data communication requires making these insights understandable and clear to different audiences. Stakeholders are less likely to act on data they don’t comprehend or trust. The ability to analyze data is essential to communicate data insights however equally important are proficient writing skills. Writing concisely and clearly in reports or presentations will avoid confusion and misinterpretation.
Various business data communication models exist, based on type of data that needs to be sent and the level of security needed. One popular model is the publish-subscribe one, which makes use of a broker to give data to subscribers who have expressed an interest in it. Other models are designed for improving the value, accuracy or reliability of data by making use of aggregates, transformations, and analytics.
Business data communication systems can also be employed to create virtual businesses that allow employees to work from anywhere in the world, and not be limited by time zones or office locations. This allows employees to collaborate remotely with colleagues, saving expenses and improving service.
Additionally, the ability to communicate data effectively also helps businesses identify problems or issues that require improvement, which allows them to make changes to improve their products and services. For example, if customers are dissatisfied with a product or service, they may be asked to provide feedback and improvements via surveys or other data communication tools.