Did you know, that according to IBM, 90% of information generated by businesses never gets used? Information is a powerful tool when harnessed correctly. It gives you power. It allows you to track and trend. It allows you to project patterns. It can provide you with real-time information to make immediate business decisions.
However, 61% of decision makers struggle to access or integrate this powerful data.
2020 has certainly not gone as anyone planned it, and the value of information comes even more to the forefront as we begin to forward plan. It’s time to challenge what you’ve always done purely because it’s what you’ve always done.
We’re all having to adapt to the ‘new normal’ and what that means for our business, and with that, comes new habits, buying patterns, engagement models. In our previous blog posts, we’ve spoken about that dreaded word ‘pivot’. You’ve most likely had to pivot in some way for your business to survive in the current climate, but what you probably don’t realise is that in the three months since we first saw the impact of COVID, your business has been producing data. Valuable data that will help you determine whether the pivot is something you want to keep as part of your business model, new trends and behaviours that your business has been developing.
Now is the time to harness that new information, as everything we thought we knew before no longer applies. It’s about having confidence in the data.
So how do you build confidence in your data?
It starts with another question – who is building the data? And from what data sets? Most organisations invest in resources to create and build the reports – but then they end up on a managers desk and nothing much happens after that.
There’s a large human element and behaviour in most organisations data creation activity. You’ve got an individual who is copying and pasting data, creating tables and equations.
With our Inquire solution, you can remove that human behaviour from the creation and manipulation of the data and free that resource to analyse and create meaningful insights from the data. This will allow your business to be more agile, more responsive and ultimately build for optimal growth.
Talk to us today about how you can harness the power of the information you’ve already built in your pivoted business.