Return to blog

How to Use Big Data to Edge Out Competition

The term “Big Data” might be relatively new, but the process of gathering and storing large volumes of data has been going on for years. Undiscovered customer patterns, trends, and insights that previously sat in filing cabinets gathering dust are being turned into powerful decision making tools that can be utilized by both large and small businesses. The amount of data that is received on a daily basis has the potential to transform your strategic objectives and create a unique competitive advantage. So why is it that so many businesses only take advantage of a small percentage of the data available? Data by itself means nothing if you don’t know how to analyze it and apply it effectively. Here’s how to take your data, use it to deliver world-class service, improve your product and processes, and edge out your competition:

Identify relevant, critical information about your team and customers.

The first step in optimizing your data-driven decision making is to start at the source: your team. How do you currently make your decisions? Are they based on fact or speculation? To truly advance toward being a data-driven service organization, you must set your goals and expectations on evidence and make them measurable. Ask your team what success means to them and how they are working towards it. Figure out a way to hold your team accountable for their success metrics and continually review, measure, and improve the outcomes. Next, what information can you learn about your customer interactions? Are your customers more willing to pay for one service over another? Do they prefer text based communication over phone calls? Try digging a little deeper in your research by identifying patterns in customer behavior that you may have not noticed before. These questions will help you figure out what sort of technology your organization needs to harness your data

Pair your data with powerful analytics-based software.

Data is simply data if it isn’t analyzed and scalable. Depending on what you want to achieve, there are a few options available. If you have a specific goal in mind, such as managing logistics or reducing cost, there are targeted solutions that can be quickly implemented. These targeted solutions satisfy a specific business need, therefore results can also be easily measured. Self-service tools are also surfacing and are making it easy for users to generate and perform queries on their own with little to no IT support. These tools also present data in a much more digestible form, such as visualizations, and can have a higher adoption rate among end users. Lastly, technology that automates processes and captures real-time data are increasingly useful and offer tailored solutions based on business needs. This technology often has built-in analytics and presents structured data so you can make informed decisions faster. Although each tool has its own merits, the technology you choose to implement must be carefully scrutinized and measured against your business needs in order to maximize its potential return.

Adapt a culture change.

As a leader in your organization, not only must you train and educate your team on the importance of utilizing data and analytics, they must become change ambassadors. Some organizations engage team members by having them participate in analytics meetings, competitions, and boot camp trainings. The importance of steeping your organization in data culture is necessary for gaining revolving insights and setting and achieving evidence-based goals now and well into the future. Insights gleaned can also result in redefining job roles and management styles and help identify possibilities for future business opportunities.

Ready to start your data-driven culture shift and gain your competitive edge? Start by defining your business goals and see how ServicePower can take your service organizations data and use it to positively influence future decisions. ServicePower makes harnessing your data easy and empowers your field service technicians to deliver better service and predict customer needs based on solid evidence. Visit http://www.servicepower.com/ to learn more.

Source: Nexus Blog


Subscribe to Email Updates

ServicePower needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at anytime. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, check out our Privacy Policy.

Discover the Power of Connected Field Service

Learn More