There are many resources which businesses need to make the most of in order to thrive in today’s market. But one kind of data which is routinely overlooked by entrepreneurs everywhere is data. For a huge number of small and medium businesses, data is actually one of their primary assets. To ignore such an asset, or not know what to do with it, can be something of a travesty. The trouble is that most of those enterprises have a lot of data sitting in the software they use, but barely ever make much use of it. So how can a business turn this situation around, and why should they do so?
Personalize The Customer’s Experience
Once you start to look into it, it becomes clear that the majority of the data you are sitting on is related directly to the customer. This is great news. Having such a goldmine can mean that you can begin to create a much more personal experience for the customer – something that all businesses could get behind. What’s more, you might even be surprised at how much even a small amount of data can do. Using proper business intelligence software, you can mine for this data in a very fine way and use what you discover to make life much easier for your customers. Making personalized recommendations, informing them of offers they will appreciate, even promoting loyalty schemes – it’s all made more effective by leveraging the right data.
In Place Of Feedback
Nothing can really beat the actual feedback you receive from customers – but by utilizing your data in the right way, you can come close. Once you start to use Sage business intelligence software to analyse and transform the data you have in your systems, you can start to see certain trends which might well have been hidden from you before. You can see the specific products a customer is likely to want, and what kind of price they will probably pay for it. You can also discover what kind of features of the shopping experience itself your customers are likely to want to see changed. It’s no secret that this could all be hugely useful information for small and medium enterprises.
The more info you have on your customers, the more effective and targeted your marketing can become. For many businesses, this is the single most powerful way to leverage even the smallest nuggets of data. Business intelligence processes can reveal a huge amount about your ideal target audience, and that in turn can influence your marketing profoundly. Better targeting and understanding your demographic more fully are clearly huge benefits which are not to be overlooked by any business. Once again, it is clear that even using a small amount of data can help to make a huge difference to how your business operates. That small data can add up to a make a big impact. Perhaps it’s time that your business started to look at the data it might be holding in its own software.
Cascade.bi is a Business Intelligence tool for Sage 50 Accounts. It sifts through your data to give you the important insights that you need to make better decisions.
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