October 18, 2016

How to Find the Data You Need in the Data You Have

By Matthew Tilley
Categories

Big data is the tune we’ve all been singing for the last few years. Understanding the value that digital data provides is ubiquitous—no longer do we have to push partners and clients to adopt data-driven philosophies for reaching consumers.

Widespread acceptance has created mammoth amounts of data, a good portion of which is improperly used, if used at all. With the vast amounts of data being collected and sorted, there are myriad valuable learnings to be discovered. So how do you know what signals to pay attention to amidst all the noise?

Remember Why You’re Here

If you want to make the most of your data, you have to clearly identify your business goals and stick to them, filing away any information that does not serve these goals. If you need create a memorable in-store experience, then audience response by device is not likely your most valuable data point—pay attention to consumer movement within the store and changes in consumer loyalty instead. If you want to be a better partner to your retailer, consider monitoring customer behavioral and lifestyle data.

Here are a few examples of business goals that require careful and deliberate data execution—and the data to use to achieve them.

 

When it comes time to search for actionable insights, we have to go back to square one—don’t chase the data that doesn’t matter. The best way to do this? Find a measurement provider that can appropriately parse the data and extract the most valuable findings.

 

What goals are you currently working against? Have you been able to leverage your data successfully? Let us know by leaving a comment.

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