Would you fly a plane without accurate real-time information and knowledge? New information technology and communications mock the old saying, “there are lies, damn lies and statistics”. Do you want to set yourself up with practical knowledge and skills for the future? Improve the profitability, growth and sustainability of your business?
Learning how to convert raw data into information, then information into knowledge and knowledge into wisdom is the way to go.
Consider the following:
- Use information and knowledge to improve reliability, usefulness and helpfulness to customers.
- Better information is becoming available to uncover problems and frustrations and the wants and needs of customers and prospects.
- Use the information and knowledge to help prospects and opportunities find your business.
- Analysis of market information and knowledge leads more quickly to new and better ideas and opportunities.
- Optimise your value chain performance using information and knowledge analysis techniques.
- Use analysis to better segment your target market and improve your business performance, profitability and sustainability.
- Predict customer satisfaction and potential customer churn rate and stop your business ‘bleeding’.
- Closely monitor customer satisfaction levels and prioritise preventative actions.
- Pinpoint your marketing approach by utilising purchasing and inventory information and knowledge.
- Optimise inventory carry and turnover while minimising stock losses and outages.
- Improve financial performance by understanding seasonal fluctuations and becoming more financially savvy. Find ways to improve working capital.
- Understand customer purchasing patterns and understand changes in customer behaviour. Use to improve target marketing and maximise promotions.
- Analysis can find optimum inputs to your products and services while identifying the best suppliers to improve your quality.
- Analysing your team’s performance can maximise results and improve their job satisfaction.
- Improve logistics with data from sensors on trucks or pallets, identify the most optimal delivery route.
- Use analysis to identify workflow problems and bottlenecks in production.
Your marketing needs no longer be a mystery or a shot in the dark and your management’s wishful thinking.
“Stretch yourself find the time to do a proper SWOT analysis. If you want to change your life, you have to do something new or different”. Peter Sergeant
“Knowing the right moment to take action when your business model or business plan is not working requires analysis, work and the courage to face reality”. Peter Sergeant