We all know how important data is to any business. In today’s world we are collecting and storing more data than ever before. In fact, in the last two years we have generated 90% of the world’s data.

This has been fuelled by the breakneck speed of the technology sector. Innovative startups and a highly competitive landscape constantly driving new and exciting technologies—all leading to the data explosion we see today. This pace however, has had a flip side; In order to keep pace businesses have welcomed the Software as a Service (SaaS) model from many, if not all, of their third-party technology providers. The result? Data silos. Data silos have never been more prevalent within businesses than they are today with the problem further exacerbated by both the multiple formats the data is stored in (structured, unstructured) and the multiple databases we are storing this data in (SQL, NoSql, NewSql).

These silos are preventing many businesses from unlocking the true power of their data. Analytics and machine learning algorithms are more powerful than ever before, offering the savvy business unparalleled insights into their customers, strategies and financial levers. What are these insights and levers? The businesses leading this analytical revolution are able to answer questions and manage strategic decisions predictively; If I improve on this metric (whether CX or operational) my YoY sales will increase by X%. At a brand level this is an important tool, but what if I told you that you probably already hold the data to understand this at the location level. Building, evolving and growing a successful business is ensuring you are focusing on:

  • What matter’s most?
  • Where are the opportunities?
  • What is the ROI?

The data many businesses already collect and hold whether internally or with third-party SaaS providers already holds the answers to these questions. Don’t look horizontally, look forwards, unlock the power of the data you have and join the businesses at the forefront of the data revolution.

At Market Force Information we strategically partner with our clients to not just collect data but to bring it together onto our integrated data and reporting platform KnowledgeForce®. KnowledgeForce disseminates information in real time throughout our clients’ businesses ensuring teams are focused on what matters most — business success is measured in ROI, not NPS® (Net Promoter Scores).

To learn more about how are we are helping businesses harness the power of their data, schedule a briefing below.

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Zachary Faruque is Vice President of Client Strategy in Market Force’s UK office and serves and consults our European client base.