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Data as a company’s secret weapon – and competitive advantage

Can big data be your competitive advantage?

Data makes this a weapon and competitive advantage for you

Data makes this a weapon and competitive advantage for you

Recently, while talking with a customer about what FlockData can do for them, the customer asked me this question:

OK, so if I track all this data, what can I do with it?

This seems like an innocent question, and it likely is. But it also hints that there’s room for improvement on strategic thinking. Suhail Doshi wrote a guest post on TechCrunch recently about how data can be a company’s secret weapon.

One of the first points speaks directly to what FlockData offers:

 

In fact, it’s not about the amount of data, it’s about the kind of data you have (and, of course, being smart enough to use it).

One of the points raised in the article is so simple that it bears head-banging against the wall. But in its simplicity, it’s exactly the right point about big data and how you can use it as a secret weapon to gain a competitive advantage:

If you’re chasing after a $10-billion market and your competitor has a way to leverage the data generated by their customers – and you don’t – the odds aren’t in your favor.

As we point out in our video, data is everywhere in the world around us. Connected devices, omnipresent cookies and web logs, and more advanced tools are producing more data every year than the history of humanity combined.
Data can truly be the force for transforming the world.

Innovators are utilizing data in ways their incumbents aren’t; they’re using it to learn more about what customers want and need. Not only that, but they’re building a culture that is data driven: where decisions are made with as much empirical data to support a position, instead of intuition and politics

The article closes with a great checklist of questions you can ask yourself and your organization about becoming more focused on data.

And when you’re done with that checklist, ask yourself the most pressing question of all – how do you start leveraging data to become your secret weapon and competitive advantage?

The answer is simple – start tracking your data. FlockData can help. Just contact us today and we’ll help.

Photo credit: http://www.flickr.com/photos/wanderinguk/13765128095/, I Wish I Was Flying via Creative Commons license http://creativecommons.org/licenses/by-nd/2.0/

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