Even now, more than a month on from the EU Referendum, I’m not sure anyone knows what’s going to happen. One thing I do know however is that, as John F Kennedy once said, “a rising tide lifts all boats”, so if the world economy does stay stable, then the UK should continue to benefit.
How much we benefit depends on your view on whether the Brexit boat is a luxury yacht, or a dinghy with a hole in it that’s leaking.
We just don’t know yet.
But one thing contributing to the rising tide, and which is really benefiting smart UK businesses is the use of data to provide Business Intelligence, and we’re certain ‘that boat’ is watertight.
Data has been accumulating at exponential rates within businesses for years.
First there was the humble spreadsheet… then the customer database… then CRM… then multiple CRM’s… then we were introduced to the idea of ‘Big Data’… and this turned into ‘Data Lakes’… and now we’re being told there is this ‘Great Data Ocean’ we all need to be linked to.
But what good is having data if you can’t analyse it, and draw actionable business insights from it?
Business Intelligence Hubs are changing that.
Even twelve months ago they would have cost a fortune, and were the preserve of ‘vanity’ Marketing Department projects and Enterprise size companies. Now they’ve leveled out and start from about a third of the price.
In fact, these days they’re well within the reach of most Mid Market CEO’s and Senior Managers.
They work by pulling together all the data from all your data sources, no matter where they are physically or digitally, and no matter what their coding, interface or connection.
Having all your data in one place allows a Data Scientist to analyse it and model predictive data. This simply means you can forecast what is going to happen and do something about it… whether that something is promoting an offer, or re-focusing your business onto more profitable audiences, or retaining your existing loyal customers whilst converting more prospects… depends on what opportunities the analysis presents to you.
But the key thing is that you’re able to actually DO SOMETHING. This isn’t just smoke and mirrors… it isn’t a vanity project that will be useless in two years time… it has real tangible benefits for you and your business.
It’s allowing Mid-Market UK Businesses – for the first time – to clearly see, understand and exploit their colossal stocks of data.
There’s only one catch… when do you move to a Business Intelligence Hub?
Why does this matter? Well, because as anyone in business will tell you, timing can either make or break a business. Too early and you spend too much money for too little return… too late and everyone’s there before you.
I’m arguing that ‘now’ is the right time, because they’re starting to become widespread… and I’m also forced to remember an additional comment… that a rising tide might lift all boats, “but it also drowns those that don’t have one.”
For more information on business intelligence hubs and hyper-personalised marketing call us on 0191 482 8830 or email firstname.lastname@example.org