3 things you should consider to fully leverage business data

Leveraging business data to gain more value from the resources you already have is key to the success of any organisation.  By ensuring you follow the 3 key steps in this article we can show you how to make the most of your company data: 

 Enrich 

  • Gathering data on the actions carried out by customers only tells you what they’ve done.  Enriching your data by using geocoding to attribute locations to these actions helps you explore the ‘where‘ aspect. 
  • When you combine the ‘what’ with the ‘where’, you can start to thein about why they have taken this action.  
  • By using this approach, you can work out where customers live, work and travel and then adapt your resources accordingly. 
  • You can also initiate specific actions (such as dispatching promotional messages) when customers enter defined areas, track how customers move around your locations and much more. 

 Analyse 

  • With these location-related insights, you can start to analyse your company data on a whole new level.  Combine your location data with individual customer data to establish what might have inspired this action, and how you could leverage this. 
  • For example, by establishing that a customer makes a regular purchase at a specific location during rush hour, you can surmise that this location comprises part of their commute. You could then create personalised marketing resources and dispatch them when they are likely to be most effective. 
  • You can also learn more about how location inspires customer action. Track customers in-store, for example, using Bluetooth beacons to position premium products in the most advantageous locations. or, find out how likely customers in specific areas are to carry out certain actions (e.g. the likelihood of people living in high-risk flood areas making an insurance claim). 

 Visualise 

This data isn’t worth much to your company if you can’t make sense of it. Reams of figures on spreadsheets will only mask the conclusions you should be drawing. 

Data visualisations are the most effective way to make data more understandable and accessible. Turning figures into intuitive graphics can give you additional insights and make this information relevant to employees who aren’t accustomed to handling large datasets. 

With Periscope® you can automatically calculate and visualise your company data on your own secure, corporate version of Google Maps. 

This advanced location intelligence software enables you to: 

  • Create heatmaps of footfall within a defined area/accurate drive-time maps 
  • Define the outlines of your current catchments/franchise territories 
  • Specify the locations where customers (existing and prospective) live, work and travel 
  • Find locations not yet covered by your brand with attributes known to be profitable 

 

You can make your company data work harder for you by following these 3 simple steps and gain valuable new insights by combining your company data with advanced location intelligence software so why not book in for a 10-minute demo with Periscope® today….you having nothing to lose and potentially a lot to gain.