Data is TODAY the world’s most valuable resource..
Category : Blog
Data is TODAY the world’s most valuable resource… not something I’ve simply coined up but all evidence points in this direction. Lets take a closer look at the facts—Alphabet (Google’s parent company), Amazon, Apple, Facebook and Microsoft—look unstoppable. They are the five most valuable listed firms in the world. Their profits are surging: they collectively racked up over $25bn in net profit in the first quarter of 2017… have you heard or seen anything else close to it?And corporations aren’t just sitting on that data: they’re monetizing it — selling the specifics of our digital identities to the highest bidder, whether it’s a marketing company looking to mine data for fuel to target their next campaign, or a home insurance company looking for ways to increase their premiums.
Relax! i want to share the positives of all this happening presently, Would you not like to be the first to be informed of your favorite brand on sale? or get that special privilege as a loyal customer for the preview of your fav wheels? or even get invited to sample the new menu put together by your fav food chain? The result is very simple, DATA and INTELLIGENCE driven enterprises WIN
The purpose of every business is to create a customer, the business enterprise has two – and only two basic functions: marketing and innovation but even the 2 basic functions without the right data can get “defunct”.
Now how do we produce valuable data which can be scientifically used to create my perfect ecosystem? There are a few very simple but very effective ways to do it ethically
- Generate it Internally
- Collect it from Customers Ethically
- Collect it from Partners Professionally
- License it externally
I will repeat these precious words once again here “DATA in the 21st Century is like Oil in the 18th Century” – “Data is just like crude. It’s valuable, but if unrefined it cannot really be used. It has to be changed into gas, plastic, chemicals, etc., to create a valuable entity that drives profitable activity; so must data be broken down, analyzed for it to have value.” It is an immensely, untapped valuable asset. Like oil, for those who see Data’s fundamental value and learn to extract and use it there will be huge rewards.
We’re in a digital economy where data is more valuable than ever. It’s the key to the smooth functionality of everything from the government to local companies. Without it, progress would halt. When your business is growing, more and more people have opinions about which steps need to be taken. It helps to work with a ‘good data beats opinion’ philosophy. Almost everything can be tested, measured and improved. If you can measure it, you can improve it.
I think by now you have got the gist of this note, so lets work with the new crude of the 21st century to extract the hidden power and steer to the finish line with clear results.
If you are convinced and looking to license that “Perfect Data“, just send a note highlighting your needs to [email protected] and you will receive a personal call from one of our data management consultants who are well positioned to advise you on how to make use of this valuable resource while saving costs.