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Ways You Should be Using Data to Improve You Business.

August 23, 2017 by  
Filed under Business, Opinion, Tech/Internet, Weekly Columns

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(ThySistas.comChanges in technology are nothing new, but in recent years, the advent of things like the web and cloud computing have changed the way we do technology more completely than anything that came before, largely thanks to the easy access we all now have to a myriad of data.

Sadly, despite the influx of data we all have, many companies have not improved their products and services to perform better and to better serve the customer. If, as an entrepreneur, you want to use the data to create bigger and better things, here are several ways you should be using data to improve your business:

Improve the Quality of Your Products

Data, as you can see at this blog, can be used very effectively to test and improve the quality of your products, especially if you are creating software or electronics. The more data you’re able to gather on every aspect of your product, and the more tests you’re able to perform, the better you can build your end product, and the more useful, and therefore saleable, it will be.

Use Data to Create a Platform for Your Products

The more data you have on your products and services and your customers, the easier it will be to create a platform whereby you build organic, lasting relationships with your suppliers, producers and customers on a large scale, faster than ever before. This is a far better way of doing business than trying to force your products on people and hope they buy like you would have to have done just a twenty years ago.

Increase Efficiency

Collecting data can also help you to determine any inefficiencies in your business, whether you have staff who take too long to answer calls or you’ve created a piece of code that isn’t quite as efficient as it could be. So, be sure to monitor everything that goes on in-house if you can. Also, look into purchasing some type of multi-cloud security software, as hackers are constantly looking to steal data that is stored in some cloud setting.

Improve Your Marketing Efforts

The more data you store about consumers who’ve interacted with you in the past, the easier it will be for you to identify patterns, make connections and work out how they tick. This should make it a lot easier for you to tailor your marketing campaigns to your target audience, and even individuals.

Improve the Level of Service You Offer

Businesses that can offer a high level of service are far more likely to succeed than those who regularly let the customer down, as you can see at this blog. Data can help you to offer a great level of service all the time by keeping track of stock levels, predicting spikes in demand for certain products, predicting traffic patterns, and much more besides, so that you don’t let your customers down by selling out or failing to deliver on time again.

Cut Costs

In business, the bottom line is everything, and big data can certainly be used to cut down your company’s costs by analysing patterns in your business to predict when there will be a lull and you might require less staff, or when you’re using more of a certain product than strictly necessary, for example.

Data may be complex, and capturing it might require a few changes to your business, but as you can see, it is so useful that you can’t really afford not to collect and use data to your business’ advantage.

Staff Writer; Sherry Brown

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