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Posted on Tuesday, 3rd November 2020 17:08
Submitted by ILX Marketing Team
How to utilise data to achieve better outcomes

The service management profession is becoming increasingly centred on data. Unprecedented levels of information collection are changing our workflows. Data has become a necessity for providing customer insight and is revolutionising the way decisions are made.

Are you deriving maximum value from your data, or is there more you could be doing? Clever use of the information at your fingertips will help you achieve business objectives and even has the potential to improve outcomes.

Using data to onboard

Data has the power to shape decision making. The unprecedented quantities of data which companies now have access to allow decisions to be guided by evidence. With data to back up your plans and processes it has become easier than ever to onboard others.

When it comes to onboarding stakeholders using data, they are likely looking for the hard facts. They also want to know what is in it for them. Keep data reporting brief with top level statistics and the facts that are key to the decision-making process. Stakeholders want evidence that supports your projected end result.

For gaining buy-in from clients the process is much the same as above but should be paired with a level of empathy. You should demonstrate a strong understanding of their business, and interpret the data in a way which proves this.

In terms of winning business, you may opt to show outcomes from alike projects or services. The vast availability of data now means that with just a little research you can find usable information that can help you win business. As well as your own database, industry whitepapers, research and reports are often publicly accessible and will allow you to gain insight.

Opportunities for data to improve service

For years and years market research has shown how a product or service is received by your customers or potential customers. But the vast scale of big data has blown this out of the park! The amount of information collected from users can guide business decisions like never before.

In terms of addressing challenges, by analysing engagement insights you open endless opportunities for improving products or customer services. For example, collected data from users can show if your tech is best serving them, or digital data may show any issues faced by customers. But beyond just reflecting on business performance, data actually has the potential to drive your operations.

By using available information to inform your decisions, you can improve the outcomes. Leading your team in a way that is guided by analytics can advance risk management, make operations more effective and lead to better end results. In this way using data and analytics at every stage of your projects or processes will create a holistic and supercharged approach.

Upskilling with data analytics training

To make true gains from data you must know how to get the best from it. Being able to use raw data to your advantage will require training and upskilling. Analytical understanding is a skill well worth investing in as it is set to be in high demand going forward. The predicted value of the big data analytics market is set to reach $103 billion by 2023 – well worth tapping into. In fact, investing in training in this field is becoming increasingly vital. Last year alone the big data market is estimated to have grown by 20 percent. Upskilling is becoming necessary to ensure your organisation is able to compete.

Leaders who can navigate and manipulate substantial amounts of data will be better equipped to succeed. They will be able to predict upcoming developments, plan for the future and leverage data to improve performance. For this reason, leaders who are well trained and au fait with data handling are more likely to achieve desired outcomes and triumph.