Ever felt overwhelmed by the sheer volume of data in your business? You are not alone!
Did you know that every day, globally we generate 2.5 quintillion bytes of data? To give you a visual reference, this would fill 10 million Blu-ray discs, the height of which, stacked, would be equivalent to 4 Eiffel Towers on top of each other.
What’s more, Big Data continues to grow at an unprecedented rate.
According to IBM, 90% of the data in the world today has been created in the last 2 years
You would think all of this data would help us make better decisions, right?
In reality, businesses are suffering from infobesity - so much data, they can’t consume it all and make sense of what they have.
While at Potentiate we love data - we are the first to acknowledge that, to get value out of it, you need to:
1. Decipher it to uncover the insight
2. Make it readily accessible to those who need it
It’s not rocket science, right?
What is less well known, however, is that to really supercharge the value you derive from your data, you need to be able to see different data sources side by side.
For instance, operational data only tells half the story. When it is overlaid with customer experience data, however, you can really begin to understand the impact that customer satisfaction is having on key financial metrics. Promoters, for example, will generally have a higher transaction value than Detractors. Placing the two data sets side by side suddenly gives you a more comprehensive picture of what is driving your business growth (or decline).
Overlaying employee experience and customer experience is another example of where the result is greater than the sum of its parts. Employee engagement, for example, is a predictor of how satisfied customers are and, in turn, drives key profitability metrics in the business.
To increase the value of your data you need to pull it together and visualize it all in one place. The result? You and your team have everything at your fingertips to make informed business decisions.
Please feel free to contact us if you would like to find out how our data integration and visualization solution, HX One, can be the game changer you have been looking for.
Oh, and if you are wondering, as I did, what a quintillion is, it is 1 followed by 18 zeros 😊.