Company Name: Trendwise
Announcement Date: 19/10/2016
Announcement Category: Team Update
Announcement Content:
By Andy Lamb
We are currently living in a time where every business is at risk from digital disruption. Just read the headlines in the news.
As a society we continue to evolve and push the boundaries of where technology can be used to help us as a human race do âbusinessâ with each other.
Over the past number of years, a lot has been said about âbig dataâ. Weâll get back to this later.
Collecting data, and using this data has been part of everyday business for a number of decades. The old catch cry is; if you can measure it, you can control it. Back in the day this data was presented to business owners in a number of ways.
Having grey hair and being around the traps for a while, I still remember the days when decision makers, and middle managers, had piles and piles of reports printed out and then neatly stored on their desk.
Reporting and Data Projects were defined, scoped, budgeted and then executed to enable staff members to have more information, allowing them to make better informed decisions to help the business succeed.
In the vast majority of cases, what ultimately happens is that the business moved quicker than the reports could be created and so most of this work (printouts) sat in these elegantly created paper towers on peopleâs desks and were never got to.
Roll forward 20 years and our insatiable appetite for data is still with us. Itâs now called âbig dataâ, probably even more so given the speed and pace of change in business and technology.
We can now collect data from so many different devices through the so-called Internet of Things or even now the Internet of Everything. We can track how long a light bulb is turned on for in our home via our smart phones. Why, still escapes me, but we can?
We can create endless amounts of dashboards to slice and dice this data to find trends, outages, problems and hopefully solutions to enable and back up decisions that we make.
How do we make sense of all this data and what do we focus on? Well ultimately from a business perspective I like to steal a process from the world of The Lean Start-up.
We need to do enough data capture and retrieval, which is aligned around what you are trying to achieve in your business goals. Just enough for the here and now. Not too much and not too little. Itâs all about outcomes not just outputs. Business Outcomes!!!
Itâs about understanding your business, your customers and the product or service you provide those customers. In business, if you can help solve someone elseâs problems, there is a fair chance you can get them to pay you something for doing that.
We are a society of problems solvers and need to remain focused on this. We need to not getting tied up in all the excitement and hype of what the world of digital disruption may look like and the buzzwords around Big Data and Internet of Things.
So, focus on your customers and use data to help solve their problems. Keep your data solutions Lean and Agile and try lots of smaller projects to get the outcomes you require.
And finally, remember in the past, we cut down far too many trees in the report stacks of 20 years ago. Itâs extremely easier to create digital report stacks now so we can save some trees, but if your data analytics isnât purposeful, you will just end up stacks of useless data and reports stored somewhere online in the cloud and not drive your business outcomes effectively.
Announcement URL: http://trendwise.co/rise-rise-data-data/
About Trendwise:
Trendwise brings internet-style visitor analytics to the physical world.
Trendwise allows business owners to optimise customer engagement, conversion and loyalty by understanding exactly when, where and how visitors interact with their physical locations.
Go to Company Profile for: Trendwise
Announcement Contact: [email protected]
