There are various forms of data in the world we live in. We all have access to data at the click of a button, and we all use it to inform our daily decisions. The way in which we collect the facts and figures might vary, but at the end of the day, we all share the ability to make decisions based on information or research. But people aren’t the only ones who make decisions based on data and research. Businesses make decisions the same way you would make decisions on a personal level, like deciding what to wear on your feet when it rains out, although businesses might use it to inform purchasing decisions or even change the world.
What Is Data?
Data comes in many forms. For example, if you take part in clinical tests in a laboratory, they’re collecting data, and if you fill out a survey, that’s more data. If you go to the mall on a Wednesday, you will be part of the mall's information on footfall. If you buy an ice-cream on a sunny day, you become data for that ice-cream shop’s revenue count at the end of the week. You get the point. It’s all around us!
Depending on your business or industry the sort of data that is useful will differ, because after all, the results of a clinical trial will be of no use to a small coffee shop or the number of people who go to the mall every day will not be useful to a museum.
Why Do Businesses Make Decisions Based Off Data?
In a similar way that a person would make a pro’s and con’s list, businesses also do this when making a commercial decision, or any big change they’re contemplating. If they’re considering changing their branding, for example, they would survey a select group to see if they connected with the new or original branding before they considered changing. Once they have collected the data, they would then review it to see what the logical decision would be.
On the commercial side of things, it saves companies a lot of money by testing and collecting research on any key change. A variety of industries can benefit from collecting data and analyzing it. Not only commercial businesses have had success with data collection, but medical researchers conducting clinical trials have found collecting data useful as well. When they’re trying a new treatment, they will collect the information to see how successful or unsuccessful it has been.
So How Does It Change The World?
With all the big businesses in the world making key decisions based off of their data collection that is ultimately how it changes the world. Can you imagine the world where you would make decisions based off of little to no research?
How far would we be behind compared to where we are today? Imagine all the medical studies that have ever been done. What would it be like if the data from those were never studied? You can see the incredible changes data collection has on the world just looking at medical research.
Who Can Use Data Collection?
Whether you’re a small business or a large business, you should be getting data to help you target your customers better and improve their experience with you. This could just start with a simple survey which you can set up with the Conseris mobile app or something more complex. Once you have the data, you will have a better understanding of your customers and be able to tailor your products and services towards them.
Talk about reaching your audience, right?