• Home
  • Interviews
  • Business Wisdom
  • Tech & Business
  • Business News
  • Economy
  • Community
  • Login
ValiantCEO
  • Home
  • Interviews
  • Business Wisdom
  • Tech & Business
  • Business News
  • Economy
  • Community
No Result
View All Result
ValiantCEO
  • Home
  • Interviews
  • Business Wisdom
  • Tech & Business
  • Business News
  • Economy
  • Community
No Result
View All Result
valiant
No Result
View All Result

Is Your Company Missing 90% Of Its Customer Data?

Christina Garibay by Christina Garibay
November 22, 2021
in Business News
Is Your Company Missing 90% Of Its Customer Data?

Big data has facilitated many business operations: with the huge amounts of customer data out there, you can get a very clear picture of your customers and figure out exactly what they want. The problem is, most businesses miss out on the most crucial sources of data. Why? Because the most important sources of data are usually unstructured and messy, and companies tend to fear this type of data because it’s difficult to understand.

Instead, businesses choose to rely on more straightforward data sources like Google Analytics, reviews, and surveys. You’re about to learn why doing so is a mistake and what the best data sourcing practices are for your business (read more about data sourcing).

Structured data isn’t enough

Structured data remains one of the most common types of data that companies use to understand their customers. Examples of structured data include surveys and reviews. Businesses love to send out surveys to their customers or ask them to leave reviews: this is a great way to get structured and easily understandable data. However, don’t overestimate how valuable this data is in getting to know your customers. The truth is that only a fraction of your customers (5-10%) will leave a review. Same goes with surveys.

Another example of structured data is website analytics (available through platforms like Google Analytics). Through platforms like this, you can figure out how your website visitors are reacting to certain ads and how they like or dislike your website. Obviously, all of this structured data is very important, and you should always keep track of it. However, it should not be the only data you focus on.

Website analytics, reviews and surveys often reveal how customers feel, but not why they feel that way. The good news is that there are various other sources that can provide this information, and we’ll get into that right now.

 

Don’t be afraid of messy data

The reason why companies like to focus on structured data like surveys is that it’s easy to understand. You can easily see how many people like your product or service and how many don’t. There’s no denying that such data is useful. It gives a great starting point and a general understanding of your brand perception.

However, companies that rely solely on structured information are usually the most misinformed. To truly understand how your customers feel and why, you need to dig a bit deeper and collect “messy” data as well.

Examples of “messy” (unstructured) data include social media posts, forums, blogs, help center calls and emails, etc. This kind of data is only available because of the rise in technology and big data, and it offers much more insights than regular surveys.

By analyzing all of this unstructured data, you can delve deeper into your target audience and figure out what they like or dislike. You can also uncover certain flaws that your company has that don’t necessarily show up in reviews and surveys. Why would you choose to blindly run your business based on limited data when all this information is right at your fingertips?

Yes, it will be a bit more tricky to collect unstructured data vs structured data, and it’ll be even trickier to try and make sense of it. If you’re completely new to collecting and interpreting unstructured data, consider outsourcing these activities. There are various data collection, data interpretation, and data analytics companies that can help your business out.

Conclusion

Why do many modern businesses fail? Because they don’t understand their customers. Simple as that. The only way to understand your customers is to collect the right data and use it properly. Structured data like website analytics, surveys and reviews reveal how your customers feel. Unstructured data like social media posts let you know why they feel the way they do, which is much more important.

Running a business without 90% of customer data means running your business blindly. The most successful companies out there (like Facebook or Amazon) are also the ones that have the most advanced data management solutions. If you want your company to stand out from the crowd and overcome competition, big data is the way to do it!

Tags: business newsCustomer DataStructured DataWebsite Analytics
Previous Post

Crunch at Ports May Mean Crisis for Family Farms

Next Post

5 Critical Factors To Consider Before Selecting a Payment Processor for Your Business

Christina Garibay

Christina Garibay

My name is Christina. I am a content writer, author and blogger with years of experience in writting, researching and editing content. I studied journalism at the University of Texas-Austin and have been practicing the craft ever since. My favorite part about being a journalist is getting to interview interesting people from all walks of life who do fascinating things!

Next Post
5 Critical Factors To Consider Before Using a Payment Processor for Your Business

5 Critical Factors To Consider Before Selecting a Payment Processor for Your Business

Please login to join discussion
How To Write A Good Essay
Community

How To Write A Good Essay – Quickly

by Gerard Palmer
July 1, 2022
0

In this busy world of success, there are various people who use their diverse skills to improve their ability in...

Read more
Cybersecurity

Cybersecurity Is More Important Than Ever for Businesses

July 1, 2022
The Ultimate Guide on How to Incorporate CBD Into Your Lifestyle

The Ultimate Guide on How to Incorporate CBD Into Your Lifestyle

July 1, 2022
Iulian Circo

Iulian Circo – Hyfe – The World’s Most Advanced AI Acoustics Diagnostic Tool

June 30, 2022
Best Traffic Source in the Long Term

What Is the Best Traffic Source in the Long Term

June 30, 2022

Valiant CEOs & Entrepreneurs Share, Inspire, and Celebrate Outrageously Successful Ethical Businesses and their Leaders.

Contact Us

staff@valiantceo.com

Follow Us

Browse by Category

  • Business News
  • Business Wisdom
  • Interviews
  • Community
  • Tech & Business
  • Economy

Links

  • About us
  • Cookie Policy
  • Editorial Policy
  • Privacy & Policy
  • Contact
  • VIP Author

Recent News

How To Write A Good Essay

How To Write A Good Essay – Quickly

July 1, 2022
Cybersecurity

Cybersecurity Is More Important Than Ever for Businesses

July 1, 2022

© 2021 ValiantCEO - All rights reserved

No Result
View All Result
  • Home
  • Interviews
  • Business Wisdom
  • Tech & Business
  • Business News
  • Economy
  • Community

© 2021 valiantceo

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In