Last Updated on March 31, 2021
In the modern digital business landscape, every business depends on its ability to better understand its surroundings, competitors, consumers, and everything in between. The only way to gain such insights is to rely on data.
Gathering data helps business organizations in many different ways, and it’s quite easy to do it with so many excellent tools available today. However, data gathering also comes with a huge obstacle – dealing with too much raw, unprocessed data.
While many professionals think that big data is reserved only for big companies, the truth is slightly different. Big data is better suited to smaller organizations due to their due diligence and increased agility to act more effectively on data-driven insights. With all that in mind, let’s see how data gathering can help your business stay on course.
Data gathering is a modern business essential
According to Forbes, 10% of businesses rely on data to improve relationships with business partners and consumers, 16% claimed that data enables more effective key strategic insights, and 49% said data-driven analytics help improve decision-making.
If we consider these statistics, it’s safe to say that data gathering isn’t an option in the digital age but rather a necessity and something essential to business success. Each business is facing problems daily, and data gathering can help to better fight those problems by providing a wide range of solutions that weren’t previously available.
The benefits of data gathering
Believe it or not but internet users generate around 2.5 quintillion bytes of data daily. No matter your business niche or industry, data harvesting helps you find out all the things you need about your consumers and how to improve every aspect of your organization.
Since your business depends on data so much, let’s see what data gathering has on offer for your company.
Get a profound understanding of your market
Most e-commerce and online companies are dedicated to collecting consumer data. It helps them better understand their customers’ needs, how they behave online, what they like, etc. With such insights, you can curb every aspect of your organization to fit the needs of your demographics and optimize the customer and user experience along the way.
Improve your customer database
Businesses are always looking for the most effective ways to organize their data to grow, and the best way to do it is by gathering and harvesting customer data. Through the process of data gathering, companies can collect emails, IPs, phone numbers of all internet users who have interacted with their brands in some way.
Improve your marketing strategy
In the online world of the internet, your marketing strategy has never been more important than it is today. Since it’s all about getting ahead of your competition and increasing the number of consumers, data gathering can help you optimize your marketing efforts to the maximum. Use data to create more targeted campaigns across preferred channels of communications your consumers use.
Provide the necessary level of personalization
Around 63% of customers expect the highest levels of personalization from modern brands they interact with. When it comes to communication, order confirmation, purchasing and checkout processes, product suggestions and recommendations, and marketing, everything depends on how accurate your data is. When you know what your customers want, it’s easier to sell more and keep them happy.
What goals do business aim to accomplish
When it comes to the goals that data helps businesses accomplish, these goals mostly refer to a company’s ability to:
- Find a new target audience
- Increase lead generation
- Improve conversion and customer retention rates
- Improve SEO and rank higher on search engines like Google
- Enhance security
- Improve customer service and support
- Track social media interaction
- Improve marketing and advertising
- Predict sales trends
Approaches to data gathering
Data gathering is essentially a process of collecting data that should meet your business goals. Let’s see some of the best approaches to data gathering.
Even in the internet age, surveys are still one of the most effective ways to gather data by directly asking your consumers for information. Aside from getting accurate data from the original source, this is also an excellent way to build a meaningful connection with your customers.
Both your mobile application and business website are excellent tools for gathering consumer data. Each time someone pays a visit to one of your trading platforms, they generate data. By collecting and accessing this data, you can get an insight into various analytics to improve your website, app, web pages, and user experience.
Social media monitoring
There is no better source of consumer data than social media. You can use an array of tools to analyze your business’ performance on social media channels to better understand what actions to take to improve your performance.
Python web scraping
Since collecting data manually takes tremendous amounts of time, you can rely on web scraping programs to do it for you. Python web scraping can perform the job of data gathering more precisely and quickly than any human can.
However, the biggest advantage of web scraping is that it automatically organizes the collected data, making it ready for being analyzed. Web scraping allows you to target specific websites and pages, find specific data, extract information without getting detected or banned, and so much more. And the best part is – it doesn’t take much to build your own Python web scraping bot.
If you want to try and build a scraper, check this article on step-by-step Python web scraping.
Data gathering is so much more than just knowing how to approach your consumers. It’s about understanding the very mechanics of your organization, your responsibilities, your place in the industry, and beyond. Big data holds the key to many doors and possibilities.
The trick is to know how to use the key, and one of the most effective ways is to gather as much accurate data as possible.