Data Matters: 7 Reasons Why Data is Important - FOX21- Entertaining Delmarva One Click at a Time

Data Matters: 7 Reasons Why Data is Important

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Originally posted on http://www.kake.com/story/40992341/data-matters-7-reasons-why-data-is-important

Did you know that 73% of data goes unused?

What a waste. Just think about what that information could do! But maybe you’re not quite convinced that data matters.

That’s okay, we have seven reasons that prove it. Keep reading for an in-depth look at why data is important.

1. It Improves Customer Satisfaction

Without a happy population of customers, a business cannot sustain itself. That’s why a business’ biggest goal should always be to put the customer first.

Collecting data from consumers can help you learn some important details, including how the public perceives your brand, what you could do better, and what you’re doing right.

2. Data Influences Decision Making

When used well, the right data is like a crystal ball. With predictive models, you can glance into the future and make decisions that matter sooner.

In short, data gives you the ability to make tomorrow’s most important decisions today.

3. Collecting Data Gives You Insight into Your Competition

Data can tell you about so much more than just your business’ performance. You can also use it to better understand market health, as well as your competition’s greatest strengths.

With the help of Azure consultants, you can see how you stack up against the competition using concrete figures.

4. Data Establishes Trends

The first step toward fixing a problem is recognizing it.

By checking data regularly, you can patch up your weak points sooner rather than later, which in turn can increase revenue and customer satisfaction.

5. It Saves Time

Imagine you’re at sea. With your destination in mind, you set sail into the wild blue yonder. Except you don’t have a map…just an idea of where you want to be.

Now you’re stuck hoping you’re headed in the right direction.

Refusing to use data to track progress isn’t all that different than finding yourself stranded at sea. Sure, you may reach your destination, but you can rest assured that it’s going to take quite some time to get there.

6. Data Organization Keeps Your Company Compliant

With cyberattacks occurring all the time, it’s more important than ever to keep your information out of the wrong hands. If customer information gets out, you could be liable. Aside from tarnishing your reputation, you may face a class-action lawsuit.

Organizing and securing your data can ensure that your data stays right where it needs to be — with you.

7. It Fuels Innovation

Since data drives decisions, it stands to reason that those decisions don’t only impact your present. Instead, the right data can help you fuel the ideas of tomorrow and point your company in the right direction.

Having the right data at the right time can help your company get that much sought-after claim of being first to market.

Why Data Is Important

As you can see, data is important for a variety of reasons. From personal security and legal obligations to driving your business forward, collecting data is something every business should do.

Looking to learn more about the world of business? We can help! Check back with our blog for tons of helpful posts.

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