How Data Can Accelerate Businesses Securely

Data Isn’t Your Enemy

If you’re like most of us, the idea of collecting and using data in the workplace is intimidating. But, fortunately, thanks to technology, it does not have to be. Even small businesses can utilize data analytics in their everyday marketing, operations, and risk management procedures to ensure a smoother workflow, higher profits, and happier customers.

Data and Consumption

The Abo Saad blog has offered insight into why so much time and money is spent into consumer behavior studies. These studies give business owners, you guessed it, data. You can utilize data from consumer behavior studies to determine how your customers are consuming your products. Why is this important? Because it helps you create a better experience for the end-user, who is the one putting their money into your business. As an entrepreneur, the primary objective should always involve making your customers come back.

Speaking of keeping your customers coming back, another smart choice for entrepreneurs is to invest in a customer relationship management platform. This is a central access point that helps you keep tabs on consumer behavior. Your CRM, which can be simple or extravagant depending on your business, will help you get to know your customers better so that you can be a better small business with products and services people actually want to buy.

Online Safety

Another area where facts and figures are crucial to your business is online security. Make sure that your business prioritizes your digital environment, which starts by understanding cybersecurity threats. IT services firm Fortinet explains that online crimes skyrocketed by 400% in March 2020, and, even now, this can cost businesses $25 per minute. Unfortunately, some businesses take six months or more to identify a breach and mitigate damage.

Even if you are a business of one, cyber security data protection should be at the forefront of your online activities. In addition to things like firewalls and antivirus software virus protection software, your business should also have a digital incursion recovery plan ready to go. To effectively recover data, start identifying what needs saving first. You also need to work with your in-house or managed IT services firm to come up with a timeline and draft of who will do what and when. Spend some time evaluating your business's current cybersecurity plan, and use the information culled from this evaluation to fill in any security function gaps that might make you an easier target.

Streamlining Operations

Data is further valuable when it’s time to make changes within your business to streamline or trim the proverbial fat. You might, for example, begin using data analytics to evaluate employee behavior and efficiency. This might be something as simple as maintaining a log of weekly, monthly, quarterly, or annual performance reviews to see if people are working as well as in previous years. This may give you insight into how to best move your staff around or eliminate positions that don’t add value to your organization. The Monday Morning Memo blog explains that when employees don’t have enough to do, they may unconsciously make their jobs harder than they have to be. This can leave you paying more for less and losing money in unrealized proficiency.

 As you can see, data can help in every area of your business. From understanding how consumers shop so that you can tailor your marketing strategies to keeping your business safe and running smoothly, data doesn’t have to be your enemy. Remember, you do not have to sit and stare at numbers all day, and you can find data everywhere. Your customer relationship management software and even your employee performance reviews are great places to start, so get ready to dig deep, read the facts, and let data drive your decisions.

Above article is written by: Elena Stewart. For contact details, please drop an email at: elena@elenastewart.com