On a scale of one to 10 how profitable was your business this week?
Did you gather some relevant data?
When data is mentioned, do you imagine rows and rows of spreadsheets with countless numbers all over? Do you feel intimidated and confused?
Well, you shouldn’t be… because your business has no better friend than the data it generates. Without it, you are limited to making decisions based on instinct which might lead to one or two successes, but it’s definitely no way to get ahead in business.
Why would you want to take that risk when data can enable you to make decisions confidently? Not to mention faster, based on facts and sound statistics, giving your business what it needs to get an edge over the competition.
So, instead of being afraid of data or dismissing it as boring, It’s time to embrace it as an exciting asset that enables you do amazing things.
Here’s what data does for your business
Attracting, winning and retaining more customers.
It’s important to understand the preference of your customers and what works or does not work for them. Without data, that knowledge is impossible. You cannot even target the right message to the right customers if you don’t know their habits. Data shows your business if what its doing is increasing customer loyalty or not.
Discovering new opportunities.
There are countless opportunities for every area of your business to improve. And, it’s data that can help your business identify those opportunities as well as areas that are not delivering the best results. For example, your business might have become so used to making a monthly purchase that its cost is no longer questioned. Data helps you identify such purchases and devise means of reducing that cost or even eliminating it.
Now that you know better, what business data should you be gathering and monitoring?
Contact DataXpert today for professional guidance on how to boost your business using the data it generates.
At DataXpert, we create timely, real-time and accurate data for Informed business decisions.