Data used to be an asset – but is it now becoming a burden?
There are so many different types of data agencies can collect these days.
Whether it’s finances, marketing or social media stats, there’s a way to collect and display it. But with all these different channels, it can easily become disorganised.
“We’re finding that data is a problem in pretty much every organisation,” explains Helen Tanner, founder and CEO of Data3. “You tend to have lots of people messing around with an Excel spreadsheet trying to manually patch things together.”
And that’s just the start.
With so many disparate collections of data, it can be difficult to find exactly what you’re after. For example, trying to find your highest value customers might be a challenge if you’ve got your customer data SEPARATE from financial data.
“Most of the time, the problem is that businesses haven’t got a single source of truth,” says Helen. “A lot of businesses end up with all these islands of disconnected data, which makes it harder to act on the insights you can find from bringing these different sources together.”
“We often help get data into this single source so businesses can see it very easily. This is through data warehousing, building dashboards, and reporting. We then go onto more advanced analytics – segmentation, predictive analytics, etc.”
We’ll be talking to Helen in more detail about digitally transforming your data, and more importantly, how collecting and displaying this data as one will make things much easier for your agency both now and in the future.