It seems as though everyone has been talking about big data or analytics for years now, but most organizations still don’t know what to do with it or how to use it correctly.
Using analytics shouldn’t result in a blame game for everyone involved in the process when you don’t end up getting the answers and insights you need.
Decision makers need to focus their conversations on asking the right questions so they can turn the mounds of data they have into the answers they are looking for – the answers that will streamline operations, enhance productivity, customize marketing outreach to both current and potential customers and ultimately improve the bottom line.
But therein lies the biggest challenge companies face; they don’t know what the right questions to ask are.
And maybe that’s because most companies don’t have the predictive tools or the teams needed to utilize the data to its full potential.
By employing the proper predictive analytic solution, it’s possible for companies to:
- Achieve a 360 degree view of their customers
- Determine the best ways to communicate with their customers
- Decrease marketing spend, but increase campaign ROI through more targeted and efficient advertising
- Break down silos to put marketing, real estate and operations on the same page
- Know how to optimize existing markets
While insights are hidden in your data, they are most likely buried under antiquated systems.
With more consumer data accumulating every day and the extensive ramp-up time involved in building an in-house analytics team, most companies will be best served by turning to a partner for help in managing and deriving those insights from the data.
The Bottom Line
The majority of companies have barely scratched the surface of data-driven insights, and the players who fail to tap into the vast pools of data properly will be left behind due to the accelerating pace of business.
More decisions are required of you every day and the ability to get answers from your data sources needs to be just as fast.
While this may seem like an insurmountable challenge, it’s okay. There are ways for companies to gain granular-level insights without maintaining cumbersome data collection infrastructures.
For example, Buxton’s robust analytics solutions have helped thousands of companies guide the execution of their real estate and marketing strategies and they can do the same for you. The question is, are you ready?
To learn more about how Buxton’s solutions can help your organization make sense of the data chaos, reach out and let’s talk.