4 Ways to Use Data for Growing Your Business

All businesses collect data of some sort, whether it’s for the purposes of storing customer information or product specifications. However, not all businesses understand the importance of this data; in fact, you could be sitting on countless opportunities for growth without even realizing it. Here are some ways that you can take commonly procured data and transform it into actionable steps for growth.

Customer Data & Feedback Surveys

You can use information collected from your customers and the feedback they provide to make changes to the way you do things that could benefit your business long-term. For example, these feedback surveys can be used to find shortcomings in your dealings with customers. Are they satisfied with the way they receive services from you? What do they think about the way your company handles customer service? If you listen to your customers and hear what they have to say, not only will they feel valued, but you might get some great ideas for how you can improve your services further.

Employee Feedback Surveys

Similar to the customer data, you can also glean valuable insights from data provided by your employees. Specifically, you want to look at whether they find their jobs easy or difficult to do, why that is the case, and what they think can be done to improve their jobs or your workplace. When people feel heard, they feel good, and when they feel good, they are more likely to perform well in their workplace roles. You also might find valuable opportunities to improve operations and streamline processes that might not have otherwise been brought to the surface.

Product or Service Data

If you are a small business, chances are you rely on selling products or services of some sort to other organizations or individuals. You likely collect data on how well these products or services sell, but whether or not you act on this data is what will make or break opportunities for growth. What sells well, and why? How can you use this data to replicate future successes? Making informed decisions moving forward based on how well your products or services are doing can give you an edge in making these important decisions.

Network Performance Assessments

Perhaps one of the most overlooked sets of data analytics is for your in-house or cloud-hosted network infrastructure. Oftentimes businesses will notice that things are running smoothly and won’t think to check for inconsistencies, concerns, or anything of the sort. It’s just like if you have a car that is working well; you don’t think to look under the hood until something is wrong, but failing to administer proactive or preventative maintenance can be devastating. We recommend looking at your network’s statistics to identify bottlenecks and other inefficiencies that can be addressed before they become bigger problems.

Need Help Moving Forward?

Preferred can help to equip your business with the tools needed to transform this data into actionable insights that can help your business make waves in your chosen industry. Not only will you be able to look at your network’s shortcomings and assess where it can be improved, but you will also be able to use your data to accelerate your business. To learn more about what we can do for your organization, reach out to us at 708-781-7110.