The slimy but somehow lovable character Gollum in J.R.R. Tolkien’s Lord of the Rings trilogy is best known for his obsession with a powerful ring that he can’t seem to live without. “My precious,” as the ring became known to Gollum, could be used for both good and evil, which was why putting it in the right hands was essential.
In today’s fast-paced business world, many organizations may be able to relate to Gollum when it comes to their data. They seek it out and save it, and have the best intentions of analyzing it, but the truth is, very few companies ever get around to taking their precious data and turning it into something good – something valuable — such as actionable business intelligence.
In fact, according to a study carried out by International Data Corporation (IDC) and published in December 2012, just 0.5% of the global data supply is used for analysis. And although IDC predicts that data volumes will reach 40ZB by 2020, the majority of that data won’t be leveraged. Instead, it will sit in vast data repositories and most likely go untapped. The result is that today’s businesses have become big data hoarders, and unless they take action soon, they’ll miss out on a billion-dollar opportunity to turn their data into sales and marketing gold.
If you’ve already made the effort to save and protect your data, now is the time to take it to the next level and create valuable business intelligence. From getting your data primed for sales campaigns that deliver a high rate of return, to capitalizing on product and service milestones to achieve nearly immediate sales results, in our next post we’ll reveal six sure-fire steps to transform your data into a powerful revenue generator.
Click here to find out how the data and campaign management experts at MaintenanceNet can put your existing data to work to drive stronger recurring revenue and ongoing success for your business.