Many business owners and leaders understand the power of data in running a business. This is reflected in the investments businesses have been making in cutting edge technology tools.
However, this is only a small percentage of the total business community. Unfortunately, a large percentage of the business people are still yet to embrace the power of technology. Mostly out of complacency or ignorance.
Let’s see how Data can help a business:
1) It will help gather intelligence about the business
a. Basically to understand who, what, when, where, how of the business
b. A simple analogy is the Health checkups. Usually, it is advised to get a Health checkup done every year, especially if you are above 40. Question is, when was the last time you got your health check up done?
c. At least this would give an indication of what is right and what is wrong. More importantly, this gives an opportunity for taking a corrective course of action.
d. Isn’t this much better than being in a situation where the health situation is irreversible? Or there is nothing you could do, even if you wanted to?
2) It will help to analyze your Suppliers, Customers, Employees, Markets etc
a. As mentioned in the earlier point, the better the quality and real-time data you have, the better off you are.
b. It may not change the status, but more importantly, it will give you time to make those small corrections so you can avoid more drastic problems down the line.
3) It will help you to predict
a. Let’s say you are 10 kilos overweight, no exercise, bad food habits, worse lifestyle. To find out these itself it probably the best thing that could happen.
b. If you continue down the same path, you don’t need a doctor to tell you what may happen. It’s just a matter of when.
c. Similarly, if you have the data in hand, you can predict things far more accurately. It could be your sales, profits or supplies or anything else.
Now imagine the kind of control you can have on your health if you were getting real-time inputs!!!
Still in doubt? Its better late than never. Get control of YOUR BUSINESS!!! More importantly get your Health Check up done TODAY, if you have been postponing it. That’s probably the best gift you can give to yourself and your family. Most importantly..you may have all the data in the world. Unless you act, neither your health nor your business can be healthy!!!
Wondering how you can control your Business? How you can access real-time data? Reach out to us at firstname.lastname@example.org
This Article is Written and Published by
Founder & CEO CashOS
Date: 14th February 2019