A look into data-driven organizations; Is it worth the Investment?

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Focus Surveys takes a look into data-driven organizations; Is it really worth the Investment?

Analytics Perspective

Data has always been crucial to businesses. The decisions you make for your organizations is based on the data you have. If the data you have is faulty, outdated or missing key data points, you cannot make profitable or sustainable decisions; your reasoning on this type of data will be flawed to some extent. In today’s fast-paced world, where changes occur at a moment’s notice, data is a lot more complex and rapidly changing and worth a lot when processed appropriately.

That type of data is essentially referred to as big data. Organizations of the day all have to deal with it indirectly or directly if they want to remain in business. The yesteryear analysis methods and techniques can no longer keep up with today’s data sets, vast in size and complexity, structured, unstructured, and semi structured formats.  The advanced technological platforms can keep up with it; unfortunately, these specialized tools cost money. Is it worth the Investment? Let’s take a look.

Advantages of keeping up with big data

According to a study done by Forrester Research in 2018, data-driven organizations (referred to as insights-driven in the study) are growing at a rate of more than 30% annually. Not only that, but they have an unbeatable competitive advantage over their rival companies.

How unbeatable of competitive advantage? They are 19 times more likely to be profitable, 23 times more likely to acquire new customers, and six times more likely to keep them.

It is worth the Investment from a Focus Surveys view

When it comes to technology investment, companies have for a long time taking the easy way out, and today the harsh reality of Technology debt is threatening their ability to stay in business. Tech debt is a concept in software development that demonstrates the implied cost of ongoing updates for less-than-optimal technology. 

These updates are required when a company chooses a limited solution that offers immediate results over a more holistic approach that would benefit the company in the long run.  Focus Surveys is an intuitive Online Survey solution supported by fit for use data technologies. When Focus Surveys first went to the market, there was a great reception; however, our target market subconsciously opted for the “tech debt” when it came to corporate strategies and budget line. 

Today we have reengaged and started unlocking their competitive advantage and making it easier than ever to make informed decisions during uncertain times. The Focus Surveys platform is ideal for enterprise data collection requirements enabling businesses to conduct secure online surveys in various modes.

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No matter how much data you’re dealing with, it’s our job to make it simple and give you an operational advantage in your respective. In addition, we help your business become data-driven at various levels by also offering digital consulting according to your ambitions.

If you want your business to be insights-driven at every level, we will be happy to undertake a business case pilot. In a data-driven world, we are the new normal.

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