Every single time that you engage with one of your customers you collect another piece of data. Depending on what you do with that data will determine its value… if you manage it properly it can make you and your business very rich or it can cost you lost sales, competitor advantage and ultimately a lot of money.
The first English use of the word “data” is from the 1640s. The word “data” was first used to mean “transmissible and storable computer information” in 1946. The expression “data processing” was first used in 1954. Marketsoft Services was established in 1988, so we can say we have seen the world of data evolve and rapidly adapt to the surrounding environment, over the last 30 years.
The most common forms of data come from three primary sources: social data, machine data and transactional data.
Social data:
At Marketsoft, we aggregate existing industry services and combine them with specialised algorithms and web research processes. This allows us to augment “typical” results using the smarts of machine learning, licensed data sources, and publicly available information published through web and social channels. The increase in social data has sky rocketed in 2020 and 2021, with more people turning to the web during the COVID-19 pandemic, for online purchasing and communication.
Machine data:
One of the fastest areas of growth in the commercial world is the adoption of Machine Learning.
Marketing and customer engagement are major beneficiaries of this new technology. Cloud based computing is making the adoption and transition so much easier for businesses, although many businesses are only applying machine learning to what they know about their online customers.
We provide bespoke solutions which will leverage your customer data to drive customer retention and conversion.
Transactional data:
Transactional data is usually captured at the point of sale. In other words, transactional data is data generated by various applications while running or supporting everyday business processes of buying and selling.
Marketers face the challenge of increasing volumes of fragmented data; both useful and otherwise. Our platform conforms these into profiles and actionable audiences useful in the real world.
Combining data and strategy:
Effective strategy also uses practical insights gained from data to make informed decisions; decisions about how and where to invest budget, decisions about how to speak to customers, and decisions about how to plan for long-term, enduring growth. Our framework encompasses these elements and provides an actionable roadmap of revenue-generating activity.
We have seen strategy fail in many cases because it’s either unrealistic, poorly considered, or is not executed in a manner that works in the real world. At Marketsoft Services, our strategic framework adopts the strengths of the agile manifesto whilst ensuring that your marketing program recognises rapid, measurable growth.
So why is data so important?
In a nutshell, data can help you to manage and maintain a conformed view of your customers, generating insights and intelligence using social data, machine learning and transactional data.
We take pride in our ability to leverage data to drive business, using our extensive data management capabilities to first consolidate data assets, in turn supplying our data science capability. Whilst insights are the result, both good data and rapid development mean we get there faster.
All of our services are designed with one thing in mind – to ensure great customer relationships are grown through equally great use of data.
Request a quote for data quality assessment & audit today!