Intuition has always played a major role in business. Some of the most important decisions are made on the basis of a single senior executive’s gut instinct.
Undoubtedly, these decisions are shaped by years of experience, but experience isn’t enough when there is as much potential for using verified facts in decision making as there is today.
A Volatile Market
The move to a digital existence means the state of any business can change at a drastically amplified rate. It happens often – a single ill-received Twitter post leads to a flurry of backlash, and a company’s reputation is quickly and publicly tarnished.
We have never seen such a consistently volatile market, and mobile devices accentuate this more than anything else.
The mobile channel primarily affects speed – how quickly you can collect data, and how quickly a customer can interact with your company or a competitor. With the ubiquity of mobile devices, it has never been more difficult to satisfy customers.
Big Data Always Wins
In such a volatile market, every business decision takes on greater weight. The simple fact is that you can no longer depend on gut instinct alone; your decisions must be data driven.
An individual with a skill set that enables him to make evidence-based decisions will thrive, but the biggest challenge with implementing data-driven processes is using complete and simple data. If you or your employees cannot directly engage with customer-generated data, you will get left behind.
Enabling A Smarter Workforce
Mobility is synonymous with agility. With your employees empowered with mobile devices, particularly those working most closely with customers, they are equipped with real-time information when and where they need it. They can use their mobiles to understand customers as easily as customers can use theirs to research your product.
For years, online retailers have used customer data on-the-fly to change the offers they make to customers online. It’s only now, via mobility, that a similar idea is taking shape in physical establishments.