How to Uncover Opportunity in Data
There is no silver bullet or magic formula that will make “Big Data” alone solve business problems.
But looking at your data as a starting point to begin answering important questions is a big step towards business optimization.
Here are a few ways to start thinking strategically about using data to digitally evolve your organization.
Identify, Optimize, Deploy
Marketing Models Should Reflect Business Goals
Data is a tool, and just like any other digital communication tool, it needs to be used as part of a larger plan to be effective.
What are the goals of your organization?
What do you want to achieve this year?
Where do you want to be in 5 years?
Starting with a consensus of practical goals can not only generate more rapid results, it will also qualifies marketing efforts for stakeholders in a practical way because the approach is based on information that is relevant to your company, not because the latest popular application.
Identifying your specific business goals is the first step towards determining how data models can create performance improvements and competitive advantages.
Extract data from the right platforms and stay flexible.
One of the reasons many organization cite for not taking advantage of data to grow their business is that legacy platforms and software are siloed, making data acquisition a daunting task.
Often, the only obvious option to begin thinking about a data-driven strategy is to incur enormous time and asset investments to overhaul entire systems. Well, there are a few solutions to this architectural hurdle.
Firstly, in the short-term, prioritizing goals can allow quick identification and connection of the most important data so you can begin utilizing the new knowledge quickly.
Secondly, once the important data streams have been identified, you can connect siloed data into a unified reporting system` (Business Intelligence platform) to transform unstructured information into reliable, actionable analytic data.
Evolve and Grow
Change is never easy, but practical, business-relevant implementation of analytics data and predictive modeling is extremely valuable in fostering strategic, qualified organizational change.
By integrating tools that help front-line employees with their jobs and provide management with intuitive tools and reporting interfaces, you are one step closer in creating a foundation to sharpen marketing efforts, mitigate risk, and enhance operations.