FOCUS FEATURE
DATA
businesses, if it refocuses our use of data and forces us to stop the treadmill and makes us think about what we should really be doing and how we should be doing it in order to maximise its fantastic potential – surely we can create an environment where data becomes a force for good. “When it comes to data, many businesses may fall foul of
the notion that quantity is better than quality,” argues Lee Callender, an expert consultant with the Chamber-managed and ERDF-funded Digital Growth Programme. “Thousands of names on various lists may look
impressive and feel like a reassuring customer base. But if, say, 60% of those people just don’t want to hear from you, and will never buy your goods or services no matter how many times you land in their inbox, it is a waste of your time – and theirs. “While deleting what feel like potential customers from
your list may feel counterintuitive, in reality it means you can have a better quality of engagement with people who actually want to hear from you – which can also help tailor and segment your content to create more effective marketing campaigns. So, the old age adage is true – less is definitely more.” It’s not necessarily the purpose of this piece to go into
specific details, strategies or tactics in relation to data and how it can greatly enhance a business’s ability to communicate to its customers, clients and stakeholders and, ultimately, aid business growth. There’s an abundance of specialist support out there, notably through the extensive range of free workshops and seminars focusing on marketing and making the most of your data, run across the region by the Digital Growth Programme. What this does bring into sharp focus though is that,
done correctly and with robust processes in place, use of data – with all its developments, possibilities and innovations, can help take a business of any size and any sector to new levels. And while there will always be innovators and data specialists ahead of the curve, it is also clear that utilising data doesn’t have to be the preserve of tech-savvy companies and those with big budgets. Nor does it have to cost the earth. Embrace data and
what it can do for your business and the sky is truly the limit – just head to the Digital Growth Programme section of this month’s publication for an insightful example of how the cost-effective utilisation of chatbots can, when used cleverly, deliver instant, tangible results to your bottom line. And what was once blue sky thinking is now reality. To a
creative thinker, data can be your best friend. And it doesn’t always have to be backed up by expensive and complicated data capture and analysis tools. Of course
‘Use of data – with all its developments, possibilities and innovations, can help take a business of any size and any sector to new levels’
there is a place for such things, but it isn’t always essential to delivering results. Rich Torr, Director at Chamber member Measureology,
has analysed how visual tools and analysis can offer businesses added and valuable insight. “As business people, we’re used to hearing about how
data, analytics and dashboards offer utopian answers,” argues Rich. “But without clarity about the decisions that audiences
are trying to make, hasty technology investments can be wasted; this is one of the reasons we suggest low-cost prototyping – even using Excel – before spending cash on shiny new analytics tools.” So what can we take away from this? Ignore GDPR and
data and security risks at your peril – but then, GDPR or no GDPR, surely it makes absolute business sense to monitor, assess and guard against risk. Equally, it makes complete business sense to seek out opportunities that have the potential to increase the reputation and profitability of your business. Without doubt, data represents one of the golden opportunities of modern business times. Data has always been here and it always will be. Despite
the modern-day manifestations of Big Data, even the great Arthur Conon Doyle, author of that eccentrically-brilliant staple of fictional literature, Sherlock Holmes, once said: “It is a capital mistake to theorise before one has data.” That statement seems as pertinent now as it ever has before. Friend or foe? Whatever your perception or outlook on data is – it should, at the very least, be an acquaintance.
The evolution of data, and its possibilities for the future, have to be carefully considered
Data can be a business’ best friend - and it doesn’t have to be backed up by expensive technology
56 business network May 2018
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