24/04/2018 | Written by: Bella Krisifoe
Categorized: CMO's Studio
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Get Insights from the dark data to be more effective, efficient and achieve customer success.
Nowadays, organizations possess lots of data. Much of this data is so-called dark data. Dark data is data that is hardly being analyzed, let alone used to improve decision making. A recent study of IBM and Econsultancy shows that 88% of companies acknowledges that they aren’t making the most use out of data. But what is dark data? And why should we use it?
Dark data is unstructured data. Examples of this are video, images, geographic locations and internet browser behavior. The previously mentioned study shows that 80% of all data is dark, but only 0,5% is being analyzed. This same research shows that 35% of this data is useful and therefore, a huge opportunity is going to waste. Mainly information about how the marketing division can better service its clients is hidden in this data. With the right tools, the preferences of your clients can be better understood, the relationship with them can be improved, and as a result, revenue will increase.
One of the main reasons to use dark data is because it is difficult to determine what data can be useful for an organization and what data isn’t. With the right tools, of which AI is a built-in part, all data, dark and light, can be analyzed. This way, the organization has an overview of all data and, more importantly, what data is useful. Consequently, your organization will have a better understanding of the client and the relationships can be improved.
Data, both dark and light, is the basis for decision making and competitive advantage. Some investment in analytics and personnel is required to analyze these data, but this outweighs the costs. Because whichever organization misses this type of data will lose its competitive edge and fall behind.
Do you want to know how your organization can run its marketing department more effectively and efficiently by using dark data? Read the full report here.