03 May 2020 0 minutes to read Contributors
Tech giants, from Amazon to Netflix, have become experts at leveraging the vast amounts of information they get from their users. Every search we make, every product we buy, every post we share, and every film we watch, creates data that the platforms turn into revenue streams. It's not just about gathering our data, the success of these companies is based on how they use data to better understand and market to us.
Most organizations - big and small – now have lots of data and keep creating more. That data could be held in anything from simple spreadsheets to advanced data prediction systems. The thing most of those businesses have in common is that they all want to use their data more effectively.
All organizations will have different goals for 2020. You could be looking to win more customers or scale up your company cost-effectively. Maybe you’re tasked with mapping medical data to predict and plan for future healthcare needs. Whatever it is, coming up with better data strategies will play a big part in the success of your plans.
Even if you’re not in the entertainment business, there’s a lot to learn from the way Netflix uses data to deliver a better customer experience. Let’s imagine you’re a marketer for an ecommerce company and your boss has asked you for a range of campaign options to boost sales.
In today’s data-driven world, you’ll need the numbers to back up your creative ideas. You’ve got your customer database, which hosts demographic data and sales history. But, how do you get that data into a useful state?
Anyone can run SQL reports but to sell your creative ideas to the board, you’ll need data in an accessible format. Maybe you need Power BI reports that make predictions across multiple scenarios. Perhaps you just need a report that visualizes the data in a way that’s useful to different departments.
Most importantly, you’ll need to ensure that the data you’re using in your reports is accurate. That’s where data consistency checks, database maintenance planning, back-ups and strategies for restoring data are invaluable.
Data analytics can help solve many of society’s biggest challenges. And, basing business decisions on data can be the difference between success or failure. But, it all starts with good data that is relevant, reliable and actionable.
Now you may not be in the race to become the next big disrupter. But, data can still give you the insight to run a better business and offer a superior product. Like Netflix, you should always be able to answer the question, “What are we going to do with this information?”
Do you have a specific data challenge? Contact us to find how we can help.
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