“When you develop your opinions on the basis of weak evidence, you will have difficulty interpreting subsequent information that contradicts these opinions, even if this new information is obviously more accurate.”
Nassim Nicholas Taleb
In today’s digital world, it’s possible for every organisation to start collecting a lot of data and, in most cases, not know what to do with it. In this sense, the true value is in big insights rather than in big data itself. Although, of course, gathering information is vital, only expert analysis and extracting smart and working insights enable companies to gain benefits and make a profit.
To extract the value from the sheer amount of data requires experienced people who can add the most value to the raw material. Only after that, when you have quality data, will your business be able to create reliable models which can generate high quality insights.
Investment in the necessary technology and people is paramount to success. The whole point of data collecting and managing is to get closer to your customers – to understand their needs and preferences, their pain points, the user experience, and their buying journey.
If you want to cross multiple borders around the world or already have that opportunity to reach customers anywhere while being on multiple marketplaces you need to know how to handle data and how to manage it. When information is dispersed and disconnected – as it often is through dozens of applications and databases – it becomes almost impossible to connect the dots and look for patterns in meaningful and creative ways. To have the ability to make informed decisions and keep your company competitiveness in the future, you should invest in the technologies and the people who can connect it, analyse it, and extract value from it. This way you’ll also keep your business clear of duplicate data, corrupt data or outdated data as you will have what it takes to detect it, leading to optimal results.
Data is the foundation for decisions. To make the most advantage of opportunities in borderless markets, you must have the most accurate information extracted from your data and use it in your favour, either by creating the local experience for your shoppers online or by having world-class customer support on your side to take care of your customers.
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ecommotors is a trusted provider of consumer optimised B2C dаta to brands, manufacturers, distributors and resellers. If you want to know more about how to manage your data, or for a no-obligation introductory discussion.
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