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  • Adam Walter

Business Data

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You can prepare your business better by using data to track trends and understand your customers better. Let’s dive in!

Back in the 80s, we had all of our documents in filing cabinets, centralized in our workplace. Then, we moved to giant pcs that could store documents, Y drives and more sources for centralized data. But, now we have data all over the place and the big questions are “who owns your data and has access to it?”

Big Data was a hot topic in 2010 and now can be interpreted as what we now call Business Intelligence. This type of intelligence is simply data that is able to be grasped and mined from data in public records.

Let’s take the new MSPL and Virtual C merger for example. We now have access to backend software sources, which holds tremendous value.

Every business has access to data. If you can manage that data, then your organization will see a lot of progress.

You might be wondering how this data is actually important or how to use the data effectively. You came to the right place!

Big Data and Business Intelligence is really about one thing: predicting. This can be predicting the housing market, predicting customer’s buying trends or predicting the ice cream flavor that will be flying off the shelves all summer. All of this data is important to someone’s business and can help if used properly.

The marketplace has changed. Today, if you want to be a leader or successful, you are going to have to adapt new principles and ways of doing things. The cool part about data is the fact that, even though people think they are original, humans are hardwired to follow the crowd and be influenced by different things that are popular. The challenge is how to get that data in front of you. The task really is easier today than ever before.

Data mining is an approach that includes digging through public data that is not identified and looking for trends that could affect the market. You can look and see how people grew up, what they learned and what they built and see what they consider normal. Then, you can see what appeals to them based on their experiences.

The biggest thing to keep in mind is not crossing the line into personal data. Here are some questions to keep in mind when data mining: Where is your data coming from? How did you source it? Is it coming from public files and information or are you purchasing it? Is a third party putting it together for you? How are they coming up with their data? Did they buy the data from other companies? That is where we start to get into an unethical approach to getting data from people.

Ultimately, make sure your business is prepared and suited for the coming times. Dive into data that is floating around in order to give your company positive value and create a better experience for your customers.

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