In today’s dynamic business environment, data takes a paramount position in the present-day business world. While it is essential to collect as much data as possible, leaving them unprocessed or the inability to manipulate those data brings zero to little value. Data must be analysed so that they can be translated into actionable insights for decision-making. This is where data consulting comes into the picture.
Data consulting denotes the methodical analysis of data by a data consultant to discover trends, patterns, and insights that can be used to make informed decisions. It is vital for you to engage with credible data consultant agencies as they can comprehend your data and harness them to achieve your strategic goals. We will discuss further how significant data consulting is towards your business.
Here are the key contributions of data consulting:
1. Discovery of innovation and opportunity
With your first-party information on customer behaviour and third-party insights, data consultants will draw on this information and recommend strategies in areas such as pricing, product development, and more to drive business growth. Data consulting provides companies with the needed clarity so that they do not depend on guesswork and assumptions for planning and innovation.
Furthermore, the insights from raw data by data specialists can be used as a source for new product development ideas, providing a company with an opportunity to diversify its offering and expand its customer base.
2. Pinpoint your right audience
Data consulting can pinpoint the processes that need to be streamlined and optimised. Data specialists can help companies identify bottlenecks in their supply chain, allowing them to address those issues and improve overall efficiency, cost savings, and employee engagement as oversight while reducing manual labour performed by employees.
Besides, with data consultants in the fray, you will be able to save time on extricating and arranging tonnes of data which can be overwhelming and diminish your team’s productivity. Data consultants are professionally trained to identify patterns and trends and nail down the right audience, even the potential top-value customers for your product or service.
3. Monitor performance trends and issues
Some clients may face problems in pinpointing the root cause of their failing performance as there are multiple factors that can cause the said issue. Here’s where data consulting comes into the picture. Data consultants can use predictive analytics or comb through the data on customer behaviour, sales performance, or other relevant performance metrics, form linkages from multiple datasets, spot the exact issues, and recommend the needed improvements for implementation. This can help companies to attain cost savings, bottom-line improvements, and more.
We provide the following services and solutions:
Explore or revisit your process of discovery prior to product development and focus your features on solving genuine or untapped customer needs.
Improve the quality of your data, identify weaknesses within your database, and ensure the data best fits your organisation through our audit capabilities.
Redefine your strategic direction to future-proof your business and digital capabilities with a plan defining initiatives and milestones to reach your goals.
Maximise the value obtained from your structured and unstructured data with actionable insights.
Efficiently handle, manage, and process your data with a framework of procedures and regulations designed to improve data accuracy and speed up decision-making within your organisation.
This solution is tailored to executives and managers looking to equip themselves and their teams with the necessary knowledge on data and AI.
According to Gartner’s former Senior Vice President and Global Head of Research, Peter Sondergaard, “Information is the oil of the 21st century, and analytics is the combustion engine.”
Whether you’re in the banking, retail, FMCG, F&B, or electronics industry, a data consultant or data consulting agency plays a critical role in providing valuable insights that can guide you towards your long-term and short-term goals. Be it searching for ideas and opportunities or improving efficiency and productivity, data consulting is not something that you should skim your budget on.
Contact us today to learn more about how our data consulting can help you maximise your ROI.