Data-driven characterizes a process that starts from the established data and verifies whether this data meets the rules. A Data-driven company is in fact based and guided by data. Data-driven will be more and more adopted by the companies of the future. Here are the main benefits of Data-driven strategies.
What is data-driven?
Data-driven is related to everything that is based on data. Data has become an essential part of business development as the volume of data continues to grow. It is becoming important to manage this volume of data as well as possible. Data-driven applies to many domains. Quantitative data and categorical data are related to data-driven.
Connected objects, as well as social networks and websites, allow the collection of data in ever-increasing numbers. Companies can stay on top of how customers perceive them and measure their performance. They can also collect data on competing companies.
In a data-driven business, all employees and managers make data mining part of their routine within the organization. Everyone needs to know how to use data to make quick decisions that improve business performance.
Easier decision making
Using data-driven enables you to take advantage of the right data at the right time to make quick decisions for the good of the company. A good reading of the data helps to understand customer behavior and to anticipate their reactions. Data-driven is also successfully used to know the main market trends from all relevant elements.
Since data is collected at the level of the entire company, it is not at risk of getting lost or remaining in the shadows. It is important that the data is not disseminated but is part of a whole to ensure internal consistency of the company. Data security is also better protected when it is part of a whole. Data-driven data management is also much more economical.
Data-driven generally works best when the implementation of the program is entrusted directly to the company's management. The results are generally better than in cases where the management is entrusted to the IT department. Managers have direct access to the company's reference data and are therefore able to make informed decisions. At the same time, they know how to obtain the support of experts.
There is also data-driven journalism that exploits data in the same way a company would. In journalism, data-driven journalism helps to identify information that would escape a traditional journalistic investigation. The resulting reports often prove to be much completer and more rigorous.
Another interesting application is data-driven learning, focused on language learning. In this application, the words themselves are considered data. With this type of learning, the student is led to analyze the ways in which a sentence is formulated. As a result of this analysis, the student is able to understand by himself how to apply the words of the language he is studying.
Of course, security is one of the areas that benefit most from data-driven learning. The methodology is derived from engineering. Production is automated in order to optimize security. Data-driven security uses data to apply it in IT security.
Data-driven applications have advantages that are constantly being discovered. In marketing, for example, data-driven has long been recognized for its high efficiency. Data is considered for customer-related decisions. With data-driven, it is possible to create a very precise model that is focused on the current situation. Customer behavior can be rigorously predicted.
Data-driven marketing is based on a few principles that all companies respect. Managers agree to consider data-driven marketing as a data strategy that meets the company's mission. It also involves promotion and training and the reinforcement of a culture centered on data management. In addition, it relies on leveraging the human and technical capital available to the company.
This type of marketing uses data analysis platforms, such as marketing software and Big Data applications. Data analysis alone is not enough in data-driven marketing. It is also important to be creative in order to make decisions that will bring you closer to the customer. Even when you have a lot of data, you need to be able to react appropriately.
The data provided in data-driven marketing must be selected and prioritized. The company's managers are able to make optimal use of the data they have at their disposal. They are thus able to maximize the value of the collected data for the company.
Data-driven marketing must also consider the security aspect when analyzing and selecting data. An information security policy must absolutely be adopted in the company's sector. Protection as well as quality must be ensured.
The benefits of data-driven marketing
One of the advantages of data-driven marketing is the high power of personalization. Before the advent of data-driven, it was not really possible to have a deep understanding of customer behavior. The company is now able to convert potential customers with valuable data. It is possible to deploy all the means to set up an efficient marketing campaign.
Data-driven marketing is also multi-channel. The company can deploy its marketing tools on several levels at the same time. The data can be used in such a way that it can be exploited on several networks. The objective of this type of marketing is to bring communication beyond the simple email. The data can be used on a multitude of networks. The customer can be reached through various communication channels.
Once the customer has been converted, data-driven marketing does not end. The data can also facilitate the understanding of customer satisfaction after the sale. Surveys can be deployed to gain in-depth knowledge of customer satisfaction. An analysis can be conducted based on what customers report. It is also important to go beyond what is reported and make product and service improvements.
Analyses based on the customer experience help improve the product by working on the perceptions and expectations identified.
Data selection is crucial in data-driven. Not all types of data are necessarily relevant. Prioritizing data is a crucial step. Data is increasingly flexible and must adapt to different changes in behavior and technology.
In predictive analytics, data-driven has proven its worth in an eloquent way. It is now possible to predict consumer reactions with increasing accuracy. Based on customer histories, more and more precise data is available to conduct highly effective predictive analyses.
In order to use your data pertinently, do not hesitate to contact Ryax!
La Ryax Team.