Data Is Money

by Mark Benvegnu
Data Is Money

We all know that time is money, but so is data.  Data can be distributed in ways that make existing processes and functions more efficient and enable your business to do things they’ve never been able to do before. 

If your business has utilized computing technology for any degree of time (who hasn’t?) then you’ve amassed more data than you know.  In applications, in spreadsheets, in accounting systems, in databases, you’ve compiled data on your business, your products, your customers and your sales.

When fully utilized, your data can enable you to see new patterns, correlate disparate knowledge sets to gain new insights and target new opportunities and ultimately drive new sales and increase profits.

In Today’s Information Economy, Your Data is a Tangible Asset

Just like a building, inventory, or intellectual property, data is a tangible asset that may not appear on a balance sheet. While a product design may be considered valuable or proprietary, the knowledge of your customer demographics, preferences, buying habits can also be of tremendous value.

Data is Often Not Used to its Maximum Potential to Drive Sales and Profits

Data gathered by one group or stored in one application or database is often siloed and not available for other uses.  By cross referencing customer data with market data and using those inputs to drive product design and ultimately marketing, you can create new and better products and that more customers will buy more often.

The hurdles to sharing data and using it to maximum business advantage can be technical or they can be organizational. In some cases, data that is compiled by one department or group is not made available to another. But perhaps data may be stuck in a system or application that is hard to integrate and and the data within that application is not usable elsewhere.

Custom software applications and new integration technologies can be the answer to unlocking the potential of your data.

Custom Software is the Key to Converting Data into Profits

A skilled developer can enable organizations to extract data from whatever application or department where it resides and transform and load it to where it will provide maximum advantage–often in real time. Custom development can maximize the value of your data and leverage it to increase efficiency, sales, profits.

Pell Software brings expertise in all aspects of custom software development.  We’ve worked with companies that have used or are using a variety of ERP and other applications in a range of industries. So we know how to develop custom software that will help you take back control and make sure your focus is on meeting your business objectives. We can help you leverage and enhance your existing technology resources while adding new capabilities to enable you to take back control, while driving growth and increasing profitability.

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