When it Comes to Data, Small is the New Big

A great example of taking the data you already have by Anthony Smith:

Customer data is a commonly unrecognized superpower. Companies that provide software as a service (SaaS) are especially likely to have massive amounts of uncategorized, unmanaged customer data, creating a well of potential that largely goes unused. This data, when analyzed properly, can provide companies with unlimited opportunities to improve product functionality, increase customer satisfaction and stimulate business growth.

As I wrote in Data + Action = Insight and Back Again, big data is not necessarily the next key driver for a business.  The next key driver may be harnessing the data you currently have and using that to glean more insight.  Once you have this insight, you can develop new strategies and tactics to deliver targeted content and create great customer experiences, which in turn lead to increased revenue.

Anthony talks about how he did this with his company and I believe so may companies can do this too.  Make sure you have exhausted all current data possibilities before leaping into "big data".  The data you have may be the next key driver for your business.

Source: http://www.information-management.com/news...