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Will Intelligent Data Use Be a Part of Your 2020 Decision Making?
Rebecca Appleton • 3 December 2019
It’s been coming and coming and there’s really no escaping it now. While there may be a few powerful, super innovative marketing or communication ideas left to be discovered, the chances are that you’re heading into a world of fierce competition and a whole host of hurdles. You simply can’t afford not to box clever when it comes to using every tool at your disposal to make your new mobile app development agency opportunity a success.
What is it that can make the difference? Data.
Our world is powered by data, to most brands and businesses, consumers are numbers before they are people. When it comes to simply determining how viable your business idea is, you should be looking at data. Audience data to be specific. Data should inform most aspects of your business decision making, from which marketing channels to focus on to where to assign your advertising budget and even, when to appoint a new team member.
One of the issues though is that while data on pretty much every subject particularly anything consumer behaviour and retail based exists, those resources aren’t going to be free. After all data is knowledge and knowledge is power. No one gives away power for free, there is going to be a price.
The difference is whether as a start-up or an enthusiastic entrepreneur, do you and will you use the resource and expenditure required to invest in good data to power your decision making? Those early months and even years are tough and you won’t necessarily have enough of your own data right out of the gate to make your decisions on. You won’t know for example whether posting a social media post in the morning or afternoon works better for your target audience of potential app customers, or whether one local conference is a better choice for you than another. All of this comes at a cost and it’s often the case that investing in good data around your industry, subject or product path is not as high on the agenda as perhaps it should be.
Wherever you might be in your journey, stop and take a moment to consider what data, what information is powering your direction and where you can gather data as you progress to help with decision-making in the future? If you struggle to answer that confidently it’s probably an area that needs to be considered urgently. Even if you have made some of your major decisions based on good data, how have you built on that? Is it up to date? Are there new factors that could impact your direction? If so, perhaps it’s time for an update or some additional research.
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