The frightening world of compiling and understanding your own data
Profits – goldmine / open seasame
Many businesses today are grappling with a big question: How can we manage our data? While collecting it is easy, analyzing and understanding big data is more complicated.
There’s internal data, which could be structured data coming from charts and databases, or unstructured data, like metadata or text from emails. There’s social media data, data collected from wearables or other IoT, data from web traffic—the list goes on and on. Finally, there’s “big data”—the sweet spot that gathers all of the various strands together for a complete picture of what’s going on.
Social Media data
Sales data and finance forecasts/ lead sources
Customers – who are they, how are you acquiring them, how much is it costing you to acquire them. Do you know what your customers look like? In the B2B world, your customers, other businesses, do you know what kind of companies are they, and what the trends in your customers is telling you? i.e are they small businesses emplyoing between 10 – 20 customers?