Customer Data Means Nothing Without an Action Plan
Data, data, and more data. It’s one of the greatest gifts of digital transformation—but also one of the greatest curses. In fact, many companies today are practically drowning in data—collecting it, storing it, organizing it, and spending vast amounts of time graphically enhancing it. But at the end of the day, that data is pointless if they don’t use it.
If you don’t already work for a company that values data-backed decision-making, I’m speaking to you. Let me give you an example. I have a friend who worked for a giant legacy-era organization. The company was spending thousands upon thousands of dollars on in-house videographers to produce video content that customers were not watching. The data was present—and it was even tracked by the marketing team. But the powers-that-be chose to continue doing what had always been done, rather than investing other in channels or vehicles of communication that might get their point across better. This is a prime example of wasted data—data that sits, rather than sets you apart.
Indeed, it seems many companies have gotten onboard the analytics train. They may even have data scientists and AI software to process it. But without an action plan to use it, they both wasting money—and falling behind their competitors. The following are a few things to keep in mind if you are swimming in data without a paddle.
Consider your culture. Truthfully, no amount of data you gather will be strong enough to move against a culture that does not accept it. Before investing in expensive as-a-Service (aaS) software and machine learning programs, consider whether the data will be used. If not, I’d go one step further: decide whether you need to change your culture. I’ve shared some tips for doing so here: Building a Data Driven Culture in Your Organization.
Consider your provider. In today’s digital landscape, it’s no longer a matter of knowing how to do something—it’s a matter of knowing which aaS provider can best help. If you aren’t getting the clarity or answers you need from your current service, do some research.
