Today , businesses accumulate greater information than ever, even though that doesn't lead them to statistics-pushed organizations . Not even supposing they've advanced of their virtual transformation or expanded the amount of statistics accrued. technologyify
However, many groups do not comprehend that relying on
records is not enough. The databases are not sufficient to truely recognise the
customers.
What is incorrect with the data-pushed version?
Not that the records-driven enterprise model is doomed,
in step with se. The factor is that statistics can provide information, however
now not context. From them, you may accumulate particular records, research
names, addresses, and possibly gender or age. However, till the agency can
figure out the way to use its records to offer useful statistics, these
databases will only absorb space.
Once you begin organizing your information, you can
translate the information into actionable statistics. Data starts to make more
experience as it's far connected to information and context may be delivered.
This is how it's miles feasible to realize that a selected patron is a girl in
a sure city who made a buy on a positive date. Unfortunately, for many groups,
the procedure stops at this point.
They use the statistics they've collected to plan
advertising and engagement strategies with out knowing that they want to head
one step in addition. They want to transport toward understanding control. That
manner going past the records-pushed approach.
Basic ideas of knowledge management
Data is not records and records is not expertise. To
illustrate the variations, you can consider that you have statistics fields to
your consumer database, such as the subsequent:
Juan Cortes
Barcelona
forty
Male
In the transaction database, you've got the subsequent
fields.
Juan Cortes
20 euros
Mistery novels;
08/10/2017
Juan Cortes
80 euros
Mistery novels
03/12/2018
It is true that there are some records, however till that
consumer database is connected with the transactions, there can be no records.
By linking and organizing the records, it is able to be
determined that Juan Cortés is a forty-12 months-antique man living in
Barcelona who buys mystery novels. It may additionally appear that there's
sufficient records available to offer you with a customized experience.
However, now not sufficient is understood about him but to make sure that the
gives that may be launched are relevant.
To do this, it's far necessary to transform information
into understanding:
Did Cortés make his purchases with a mobile tool or did
he visit a bodily shop?
What time have been your purchases made?
Did you order your purchases gift wrapped?
How did you pay in your purchases?
How many purchases have you made?
What is your average time between purchases?
Have you ever contacted the customer service branch or
made a criticism to the organisation?
Have you cited the business enterprise or a product in a
web discussion board or for your social networks?
What pages of the corporate website have you visited?
Finding the answers to these questions let you broaden a
360-degree view of this purchaser.
Once a facts pushed way of life has been leveraged to
accumulate information in any respect touch factors and the generation to show
that facts into know-how, what is known may be implemented to advertising
efforts.
Some of that understanding might be express; others can
be primarily based on deductions. The end result, in both occurrences, is that
as opposed to being driven entirely by means of records, the commercial
enterprise can now be pushed via information, increasing its probabilities of a
high quality final results.
Data-pushed is the essential first step in an effort to
exploit knowledge and benefit floor from the competition , react speedy to
converting market conditions and growth business profitability.