Data. Information. Action.

pond-750341_1920

This sobering accusation about the NSA being overwhelmed with data should be a wake up call to businesses who are collecting data for the sake of collecting data.  It is becoming increasingly easy for organizations to collect data on almost every aspect of their existence: customers, sales, inventories, markets, costs, operations, etc. but without a process for collecting troves of unstructured data, synthesizing the data into information, and translating information into action – you’re not effectively wielding the power of data.

Data can

  • Improve Revenue
    • Identify corellations and opportunities to cross sell products or services
    • Identify and prioritize investments in specific customer / market segments
    • Inform the supply chain to make smarter decisions as a whole and be more responsive to changing customer demand
  • Lower Costs
    • Reduce the amount of overstocked inventories
    • Improve production efficiency and performance
    • Flag customer behavior that may indicate a drastic change is on the horizon
    • Predict when an asset may be expiring so action can be taken to prevent downtime
    • Benchmark utilization and identify the superstars

We worked with a client in the telecommunications space who was collecting data on all of its customers.  The client was interested to know if there was a way to improve customer retention, so we built a database around those customers with the goal of creating profiles based on certain characteristics and attributes.  After careful analysis and many iterations of challenging and confirming assumptions, the result was a set of heuristics that enabled our client to have better conversations with their customers by anticipating customer needs, improve customer satisfaction, and increase average revenues per customer by offering more appropriate solutions.

The customer data sets contained all the pieces of the puzzle, but it took a team of people who possessed domain knowledge, an understanding of mathematics and statistics, a certain level of curiosity, and patience to assemble everything into a cohesive picture.  This is the power of data, to information, to action.

NSA Mission Statement

The National Security Agency/Central Security Service (NSA/CSS) leads the U.S. Government in cryptology that encompasses both Signals Intelligence (SIGINT) and Information Assurance (IA) products and services, and enables Computer Network Operations (CNO) in order to gain a decision advantage for the Nation and our allies under all circumstances.

In other words, the NSA uses data to protect the Nation.  Is your organization using data to protect its territory and gain a decision advantage over competitors?