Data Data Data

We hear this term so often in our techno-crazed world! Big data, little data, regular plain old run of the mill data: but what really is it? What does it mean to utilize data in a meaningful way? Take Google: they have the job of filtering out billions of pages of information to return to you the best and most relevant results, but how?

How do we know what information is truly relevant? What factors are we going to look at in order to determine it’s relationship to our search terms? Transition this idea to your business: what are the crucial factors that you consider when making decisions? Furthermore, how do you ensure that your decisions are informed, and not based on assumptions?

We know it’s impossible to understand everything about every transaction all the time, but we can certainly reduce the number and scale of our assumptions. You probably have a good idea of who you’re marketing to, “20 somethings with a thrill for adventure”, but have you checked to make sure that this is truly your #1 customer?

It’s all too common to make an assumption about our business or clients, and then carry on to make seemingly rational choices later on. Making a hundred rational decisions based on one assumption at the start can lead to catastrophic results. We may end up building our business around the entirely wrong clientele, or branding ourselves in ways that make no sense to our core consumer.

This is where data comes in. Data in it’s most pure form is simply information: It can be the hour that you sell the most volume. It can be the age of the person who shops from you; the location of where your biggest spenders are, or even the how much time they are spending looking at different pages on your website. What do all these things mean, and how can we build a model to predict behaviour, and potentially capitalize on this information?

We have tools to help you understand what is worth your focus and what is not. We don’t want you to spend anymore time on marketing or product design or customer allocation than you have to. We want to ensure that your decisions are informed by the key components that make your business a success, and we can help you reduce wasted time, effort, and money.