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TURNING DATA INTO INFORMATION PART 2: After the basics, build out

In my last post, I talked about starting with intuitive and natural approaches to modeling data when starting new projects. And focus on answering questions like:

  • What?
  • How?
  • Why?

By focusing on those topics, you frame the context for your customers and how they interact with your products or services. That’s the beginning of your plan.

But what do you do next?

At FlockData, we believe that understanding the fundamental connections in data is key. Think about the most commonly used tools in business models and ecosystems. They boil down to knowing what customers buy which stuff, and how and why they do that. Those are the connections, or relationships between the elements. That’s the map of your business, or your business graph.

If you think outside your business, the most common competitive and strategic comparisons tools, such as:

use relationships. Fundamentally, these comparisons ask questions like “How does Firm A’s ability to do X relate or compare to Firm B’s?”

So now you can build out, and incorporate external parties.

(Image credit: http://blog.ascens-ist.eu/2011/03/dreaming-of-fluffy-clouds/)

Going that next step helps you understand how you fit into a competitive business landscape. Now you can start thinking more clearly about how your customers will find you, or vice versa, and what value you are offering them.