The world is at a point where we have never had so many avenues to use to create and administer a campaign. Whether it be a sales campaign, campaigning for fundraising, or a political campaign.
The rise of the internet, social media, and cell phone technology has had a massive impact on how people interreact with each other. Conversations are taking place at a phenomenal rate all over the world between people that don’t know one another physically. Using this technology has to be a priority for any business or organization if they want a successful campaign.
Social media
Social media has, in the last 10 years, progressed enormously. Thoughts, ideas, and information can be shared. It is a fantastic platform to use for campaigning. Starbucks: The Unicorn Frappuccino campaign is the most successful social media campaign as of 2020. The ‘Make Poverty History’ campaign in 2005, with stars clicking their fingers to highlight deaths through poverty in third world nations, was run on TV, radio, and cinemas all over the G8 countries, and the impact was major. Now imagine if that campaign was run today on social media. It would be explosive.
SMS (Text) Messaging
Texting is now a word due to its popularity. How can this help with a campaign? There are obvious advantages to having a person’s cell phone number and being able to message them. Political text messaging has been around for a few years now and has proved successful. A person may scroll past an ad on their social media page or class an email as spam, but they will always read a text message to their phone.
Email
The use of email can be a tricky one due to spam filters. If you mail too many people, it will be classed as spam or junk mail, and the majority of your recipients will never see it, and those that do will ignore it. Obtain the emails legitimately and fairly, and they will reach the audience that the campaign is aimed at.
Search engines
There are 68,542 searches on Google per second. This is an amazing number, but what does that mean for a campaign? To get the campaign running, you will need a campaign website that hits up there on the first search page, or the message will not be out there and visible, with potential customers going somewhere else. Employ a professional website designer and then use a reputable SEO (Search Engine Optimization) company to get you on that first page of Google and noticed.
Whether you are a small company or multinational, if you are a major charitable organization, or campaigning for your local youth group, or for election as president of the United States, the use of all the technology we now have at our fingertips needs to be explored and made good use of. This blog post lists just four ways technology can be used for successful campaigns. Employing these will take your efforts to the next level.
Ghana is one of the most vibrant economies in Africa. Thus, you’d definitely expect its infrastructure and technology to be superb. Many immigrants come from Ghana, and from time to time they need to send money back home. Often, they don’t get an easy way to send money due to the cost implication and speed of arrival. But a money transfer app gives immigrants an easier time sending money back home. And this is not only limited to immigrants, but also those who want to send money to Ghana for business.
So, what are some of the best and cheapest ways that you can use to send money from the UK to Ghana? For starters, we’ve stated that the best avenue that you can use is a money transfer app. The question is, which money transfer app services are ideal to use? Here are some picks for you:
PayPal
PayPal is one of the longest-serving money transfer options in the market. It has existed for more than two decades now and is still continuing to help millions around the world. What better way to send money to African countries like Ghana than through a money transfer app like PayPal?
PayPal supports over 20 currencies of the world, including those on the African continent. The fact that it is one of the most popular apps in the world when it comes to money transfer also makes it attractive to many.
Immigrants love using PayPal to send money back home due to the pure convenience it has. Money transfers typically arrive on time, unless for some delays – which are also rare. In addition, their fees are cheaper than what you’d get in a bank.
Afriex Money Transfer App
Another impressive money transfer app that you can use to send money from the UK to Ghana is Afriex. It is still fresh in the industry but has gained the attention of so many immigrants in the UK. So much that it is slowly becoming the most preferred option for sending funds abroad.
When you’re in the UK and want to send money to Ghana, then we would strongly advise that you try out this service. Aside from their rates being rather low on money transfers, their speed of delivery is also quite fast. Thus, if you have an emergency to deal with back in Ghana, you can send funds quickly while in the UK.
What’s, even more, is that you can also send cryptocurrency, in addition to all the fiat currencies available on the platform.
SendWave
SendWave money transfer app started way back in 2014 as a solution to the high transfer fees that banks charged individuals to send money to African countries. And it sure did make a difference by bringing these rates down to the low. Today, many immigrants use SendWave to make transfers to their African countries.
As an immigrant in the UK, you can easily send money to Ghana and expect it to get to the recipient quite fast. You’ll need to check their website for full details on their pricing when it comes to transfer fees. For some African countries, there’s even no transfer fee!
CurrencyFair Money Transfer App
From their name, you can already tell that they have a fair policy in terms of transfer fees and charges. In addition, some of their in-app features are pretty exciting. For instance, they use a competitive exchange rate and a smart platform technology that reduces the cost of making money transfers by up to 8 times. In most cases, CurrencyFair prices range at 0.4% of the exchanged amount.
CurrencyFair also has a decent user interface that makes it easy for anyone to navigate through their platform and transfer funds abroad. If you’re not so much in a hurry to send money, you can request a better rate when the market changes so that you send money and get full value for it.
They are pretty fast too, as many claim it is the best option to use when you want to send money to an African country really fast. The money you send can get to its destination in a day.
Xoom
Xoom started out in 2001 and has since been a great option for people sending money abroad, even to African territories. Aside from just sending money, people can perform mobile top-ups and even pay bills across different platforms. Talk about convenience in services.
Xoom today belongs to PayPal and users can send funds to over 100 countries in the world, including those in Africa. Their transfer rates are also attractive and not as oppressive as bank transfer charges.
Final Thoughts
Sending money from the UK to Ghana sure is easy nowadays. With the influx of many service providers, you’re definitely spoilt for choice. Just ensure you pick the money transfer app with the best rates, speeds, and security.
In order to keep your restaurant and bar running smoothly and profitably, you need to take care of it the same way you would treat your customers. Making sure you have the right bar insurance to protect it, just like you would protect your customers, will help make sure that everything goes as smoothly as possible even in the event of unfortunate circumstances. To help give you an idea of what kind of insurance to look into, here are some types of insurance you may want to consider
General Liability
Liability insurance covers bodily injury and property damage sustained by third parties on your premises. A general liability policy will cover claims arising from almost any situation, including slips-and-falls, dog bites, employee errors, customer injuries, or even riots. If a patron falls ill after eating your food, if a trespasser is injured on your property or if someone slips in your lobby—these are all covered under a general liability policy. Be sure to include adequate limits for each claim made against you.
If you use liability as your go-to bar insurance, be sure to include umbrella coverage. An umbrella policy will protect you from a catastrophic claim that could wipe out your business. For example, if someone were injured on your property and incurred $1 million in medical bills—and you had only $500,000 in liability coverage—you’d be on the hook for another $500,000.
Property Damage
This bar insurance covers any damage caused by fire, theft, storm, or other natural disaster. If your restaurant is harmed in a disaster, it could cost you thousands to repair or replace. A good policy limits your risk and pays for repairs or replacements right away so you can get back on your feet quickly. In addition, it should pay for temporary living expenses if you have no income while a permanent fix is made.
Business Income
If you operate your business as a sole proprietorship, an LLC, or a corporation, you can add yourself as an additional insured on your company’s commercial general liability policy. This allows you to recover any profits lost because of injuries related to your business. For example, if someone trips on a chair in your restaurant, breaking his arm and stopping him from working while he recovers, you can recover those losses from your bar insurance company. However, adding yourself as an additional insured also increases your premiums slightly each year.
Workers Compensation
All states require businesses that employ people on-site, whether they are full or part-time, to have workers’ compensation insurance. The coverage pays for medical bills related to a work-related injury or illness. Be sure you know if your state mandates it—and you don’t miss out on qualifying for any discounts by purchasing too late.
Liquor Liability
The average food cost in a restaurant is 20-25% and liquor is 50-60%. If there is an accident with alcohol on your premises, you can be sued by someone who’s injured or their family. You’ll have to pay hospital bills, lost wages, pain & suffering, and mental anguish; all these things add up quickly. Liquor liability insurance covers any legal proceedings that arise from an injury that occurs due to your serving alcoholic beverages at your restaurant or bar.
With this type of bar insurance, you’ll be covered for personal injury claims that occur as a result of your business serving alcohol. If you are sued because someone was injured on your premises due to alcohol intoxication or some other reason related to drinking, then you will be covered by liquor liability insurance. This is an important part of owning a restaurant or bar because it covers all legal expenses if something goes wrong with alcohol on your premises. It’s better to be safe than sorry when it comes to serving alcohol in your restaurant or bar.
Loss Control
Business owners need to protect their employees, patrons, property, and bottom-line against losses. Of course, not all insurance is created equal.
Consider starting with a general liability policy—it covers bodily injury or property damage that occurs on your premises or as a result of your business operations. With liability insurance, you also can protect yourself from potentially devastating lawsuits that can cost tens of thousands in legal fees just to get started.
Employment Practices Liability
It protects businesses from claims arising from job discrimination, wrongful termination, harassment, or other employment-related issues.
Employment practices liability insurance protects you if a former employee brings suit against your business because he or she was fired or not hired due to: age; race; national origin; gender identity; sexual orientation; political affiliation; disability; or marital status. This coverage is often included as part of an EPLI policy. Employees are most likely to sue their employers over wrongful termination, harassment, and wrongful discipline.
Umbrella Liability
An umbrella policy provides additional coverage for damages that occur outside your normal business operations. This includes slip-and-fall lawsuits, which have become more common as a result of people trying to save money on personal injury protection (aka car insurance). As such, it’s especially important for restaurants and bars that have events like yoga classes or art installations.
Most types of bar insurance will cover losses resulting from slips, trips, falls, and even broken glass. However, these policies will not cover any injuries you cause yourself or your employees. For example, if you accidentally break a bottle of wine over your foot in front of customers, it’s unlikely that your business liability policy will help pay for medical bills. That’s why it’s important to have an umbrella policy in place as well.
Cyber Liability
Cyber attacks are growing in number every year, with a resulting rise in both customer identity theft and credit card fraud. Hackers have also recently taken over some very high-profile companies’ Twitter accounts.
As a business owner, you could be held responsible for lost funds if a cyber attack occurs on your restaurant or bar’s website. Consider investing in cyber liability insurance to protect your business against these attacks.
Final Thoughts
Being a restaurant or bar owner means you have a lot on your plate. It’s important to not only understand what types of insurance are necessary for your business, but also that you keep up with paying for them. It’s also essential that you know what type of coverage you need as every business is different.
My dear girls, I have one question for you. Do you party trends in fashion and beauty? I am not a person who blindly follows trends. I will not wear something that does not fit me well. But I like to be informed, and to try to bring out everything that I like and that looks good on me. I respect uniqueness, individuality, but the progress in every segment of fashion is great. If we read and hear about trends we can learn a lot. Shapellx is an online shopping site. Just like that, innovative, that goes even ahead of time. Are you familiar with the term shapewear? It is the underwear that shapes our body. It is worn under clothes. It is made in such a way, without edges and seams, that it is invisible through clothes. Until a few years ago, I wouldn’t have thought that such a thing was possible.
To a flat stomach without diet and physical exertion
I could hardly wait for this passage. Now I will specifically explain my favorite product to you. It’s tummy control shapewear. The stomach is the place where we grow up most often. We can even be fit and thin on other parts of the body without the stomach being problematic. It is enough for me to overeat and you can immediately see the excess. Unfortunately, it is so. Do you know those situations when you swell up just before an important event? It happened to me too. I strive to wear the bodycon dress I bought months earlier. I spend the whole day under stress. That’s why shapewear is a quick fix. You put it under your dress and get a flat stomach in a second. The dress will look beautiful on you. And you will go to the celebration full of confidence and enjoy. And all this for a really good price. Look at the prices, every woman can afford it. The site often has discounts and promotions, such as free postage or a big discount if you take two products. Now there are big discounts, catch the great action. Worth every penny. Top quality that lasts for years. And the confidence you get when you look at yourself when wearing shapewear is priceless. It is made of a special elastic material, it is very comfortable to wear.
Even better news – to a perfect body with just one trick!
Reading the previous paragraph, you probably thought – great, I’ll fix my stomach, but what about my arms and thighs? We have reached that point. On the site you can find I full body shaper. Yeah, that’s right, your whole body will be a few numbers smaller in an instant. Imagine a taut body, with prominent feminine curves. What has been a dream for years is now available in just one step. The people behind the site are working hard. They are constantly innovating. And they are perfecting the models. What is a big plus with all models is the easy going to the toilet. You don’t have to worry. Each model has a hole that opens easily. So you don’t have to take off all your clothes and shaper when going to the toilet. There is simply no little thing that the designer team did not care about. You can’t find any flaws.
See for yourself
If you have any doubts or ambiguities, be sure to look at shapewear before and after. There are many ordinary women who have tried this, and who share their experiences with you. When you see them in the photos you will be delighted. If they manage to make their body sculpted, so will you. Now you don’t need patience, the results are obvious.
A bubble plot is a type of graph used to display data. It’s similar to a scatterplot, but the bubbles are sized according to a value that is specified for each data point. This value can be anything, such as the number of occurrences of a word in a text document, the size of a company, or the price of a stock. A bubble chart is a great way to visualize data. Keep reading to find out how to find the mean, median, and mode in a bubble plot.
What is a bubble plot?
A bubble chart is a graphical representation of data. The data points are represented as bubbles and the size of the bubbles is proportional to the value of the data. The mean, median, and mode can be found in a bubble chart using the same methods used to find them in a standard bar chart.
What are some tips for interpreting measures of central tendency in bubble charts?
When looking at measures of central tendency in bubble charts, there are a few key things to keep in mind. The first is that the mean is not necessarily the best measure of central tendency when there is a significant variation in the size of the bubbles. This is because outliers can skew the mean. In these cases, it may be more accurate to use the median or mode as measures of central tendency.
Another thing to keep in mind when interpreting measures of central tendency in bubble charts is that the size of the bubble does not always correspond to the magnitude of the data point. If you have two data points with different values, but both bubbles are small, then the mean may not accurately reflect the true value of central tendency for that data set.
Using each measure of central tendency in a bubble chart will depend on the type of data being represented. The mean, or average, is typically used when you want to measure the overall size of the bubbles in the chart. The median is used when you want to measure the central location of the data, and the mode is used when you want to find which value occurs most often in the data set.
How do you find a bubble chart’s mean, median, and mode?
The mean, median, and mode are all ways to find the average of a data set. The mean is the most common way to find the average, but outliers can distort it, and the median is less likely to be affected by outliers.
You can find the mean of the data in a bubble chart by finding the average of the x-coordinates and the y-coordinates of all the data points. To locate the median of the data in a bubble chart, find the middle value of the x-coordinates and the y-coordinates of all the points. To locate the mode of the data in a bubble chart, find the value that appears the most often in the x-coordinates and the y-coordinates of all the data. In a bubble plot, the mean, median, and mode can be calculated for each group of data points by finding the average size of the bubbles in that group.
The mean, median, and mode are important in analyzing a bubble chart. Bubble plots can be used to compare values for different data and can also be used to identify patterns. Overall, bubble plots are a great way to visualize data because they allow you to compare data points while also considering their size. This makes them perfect for visualizing hierarchal data, or that has different levels of measurement. These measures can help you understand the data better and make better decisions.
When you are an adult with children, it is important that your kids are as happy and healthy as possible. This is something that can definitely be encouraged by making sure that they are participating in as many sports as possible. If you are interested in the types of sports that your child could take part in from today, then you are in the right place, as this guide has been created in order to give you an essential overview. Read on now and you will be quickly inspired to help your children become much better versions of themselves.
Basketball
One of the most popular and best-paid sports in the USA, basketball is often seen as a great and exciting option for your child to try today. A team sport that requires quick thinking and camaraderie, as well as a high level of fitness, it offers many rewards for the people who decide to take part in it. If you believe that your child has what it takes to be one of the legends in their field at basketball, then you should look for a great basketball training academy in your area today!
Baseball
The second most popular sport in the USA, baseball is often one of the most romantic and exciting sports in the country. It’s a sport that can be tried by a variety of different people considering the different roles that you can play – stretching from being the batter to the thrower, to the person outfield trying to catch the ball. This means that if you want your child to try a sport with a whole lot of variety, then baseball could be the perfect choice. Take a look around for a great local baseball club in your area.
American Football
American Football is unique in that it’s the most popular sport in the USA, while basically no one else in the world watches it. Nonetheless, the devotion that it inspires in the country, especially in small towns where everyone knows each other, is legendary. With that said, considering the large level of heavy contact that is involved with a sport like this, and the health risks that it might have, you need to make sure that your child is physically fit enough to be able to withstand any of the risks that are involved with playing American Football.
Soccer
Soccer is such a great sport for your child to play because all you need to get started is a ball and something that resembles goalposts. Soccer is widely-beloved and played in basically every country in the world. In the USA as well, soccer is getting bigger and bigger each year, with the women’s team – usually considered to be one of the best teams in the world – blazing ahead in promoting the importance of women in sports. If you are interested in enrolling your child in soccer, no matter whether you have a boy or a girl, then you will definitely be able to find the right option for your kid at a field near you.
Ice Hockey
If you live in an area that is more prone to extreme cold in the winter, then it is likely that ice hockey is a particularly popular sport. You should definitely take a look around to see if there are any hockey arenas in the area that your child could get involved with. It’s also worth considering the fact that ice hockey can be quite a violent sport, considering the hardness of the ice and the fact that it is conducted with sticks, meaning that you should make sure to see if your child is emotionally and physically ready to play ice hockey. If they are ready to make the choice, then you should make sure that you also buy them all of the necessary equipment.
Conclusion
As you can see from this dedicated and detailed guide, there are so many different sporting options out there for your child, meaning that the likelihood of them doing a sport that they truly like is definitely heightened. It’s worth being open with your child and what they want in order to help them make the best possible decision. Let them try out a variety of different sports and you will be surprised by which one they actually decide to stick with in the end. Good luck in your search and your child will be sure to have a great sporting time!
If you are headed to university, then studying business is an ideal choice. A business degree will provide you with the knowledge and skills that you need to work in a range of different career options. These days, there are so many different types of businesses that your skills are definitely going to be in high demand, and you can enjoy a career path that allows you to work in many different environments and on a wide range of different tasks. Before you enrol on your business course, one of the main things you might be wondering is what you need to get. Here are some products to buy that most business students find useful.
A Good Laptop
While universities have libraries with computers that you can freely use, it’s always good to have your own laptop as a business student. This is because you don’t have to worry about giving your computer up at a set time when the library is busy, and you can take your work with you to do at home instead of always having to be on-campus. With a good laptop like these laptops for business students, you can also ensure that electronic note-taking in class is a breeze.
Notebooks and Stationery
While many students are switching to electronic note taking, having some notebooks and stationery of your choice can also be helpful for your business degree. It’s always good to have a backup in case your laptop battery runs out in class and you don’t have your charger with you, and some people just take in information better when they are writing it down by hand instead.
Textbooks
If you are dedicated to getting the best result from your business degree, you might be considering buying some textbooks to look over before your course even starts. The good news is that you can get cheaper textbooks by looking for eBooks or second hand deals. If you want to save money, however, it’s a good idea to get to your university library as early as possible to borrow the books you need free of charge.
Printer
While university libraries do offer printing facilities and lots of assignments you’ll do will be electronically submitted, it is always good to have a printer of your own. Not only does it work out cheaper compared to paying per page at the university library if you have a lot of work to print out, but it is also just handy to have for printing out anything, whether it’s related to your degree or not. You may want to consider getting a multifunction printer that you can also use as a scanner and photocopier, so you can scan or photocopy important pages of textbooks that you need to use, but have to return the textbook to the library before your assignment is due.
If you are starting a business degree soon, then these are some of the main things to shop for to help you get your course off to the best start.
There are some jobs that you can work on attaining that are just more appealing than others. Depending on what your driving factor is, this could be due to various factors. For example, if you want to live a comfortable and lavish lifestyle, then a job with a good salary might be what you want. If you would prefer a job with a sense of pride and achievement, then a role that allows you to give back to people is a good idea.
When it comes to job roles that people will aspire to have, business ownership is definitely a popular one. After all there is really no ceiling regarding how much you can make. Not to mention that you are your own boss and get to do things your own way. However, it is definitely a competitive field to invest yourself in. So how can you make success more likely? Reaching your own potential regarding your role is a key factor. If you are unsure how to do this, consider some of the following tips.
Identify Your Flaws
One of the best ways for anyone to grow and develop is by giving themselves a critical evaluation. Of course, there is no doubt that you do a lot of things very well. However, these aren’t the areas of your skill set that need attention. Instead of getting caught up in what you do well, try to look at the things you can improve on. For example, if you feel as if your time management could be a little bit better, then this is something you should try and work on. Different people are going to have different flaws. Although it might be hard for you to view yourself in a critical light, it will definitely be of benefit to you.
Use Services to Improve Your Business
As a business owner, knowing who is right for which job is very important. After all, you can’t expect to do everything yourself. Sometimes, you don’t even need to hire people as full-time employees to get a job done. There are companies out there that can provide services to help your business. For example, b2b telemarketing services could be a massive boost for your business.
As well as this, using the like of communication tools and organization services could help you to run a much smoother and more efficient business.
Have Great People Management Skills
One of the biggest difficulties you are going to face as a business owner is managing people. After all, people can be hard to work with at even the best of times. If you have this in your skill set, however, you are really boosting your business’s chance of success. You will be able to get the most out of the members of your team and ensure that jobs are being done correctly and efficiently. Managing people can seem a bit daunting for anyone who hasn’t done so before, but it is a very valuable skill.
Kratom is a natural herb that was discovered in South East Asia. There is still a lot of research going on in this field on how kratom affects your health. The most recent research going on in this regard is the relationship of kratom with testosterone. Many users have a question in their mind that does this natural herb really affects your testosterone level?
Before moving further, you need to know that testosterone is a hormone that is most commonly associated with the sex drive in men. Women have this hormone in moderate levels, while men are rich in having testosterone. Let’s find out more about it.
Does kratom affect your testosterone levels?
Kratom might be responsible for either boosting or lowering the testosterone levels in a human. There are various factors that determine the boost or drop in the levels of testosterone. Kratom offers innumerable natural benefits, but everyone reports different results. This is because every user has a different technique of consumption, different amount of dosage, and comes under various age groups, to name a few.
Still, a significant number of people reported that kratom enhances their testosterone levels. And those who claim that it made their testosterone level drop are found to be sufferers of opioid-induced androgen deficiency.
Relationship between testosterone and kratom
Kratom can help get you relief from chronic pain and can give you the relaxation you want after a tiring day. But recently, kratom has been found to have the power to balance hormones. Different kratom strains like organic kratom green Maeng Da may positively impact the testosterone level in men.
Multiple users reported that using this natural herb is quite helpful in increasing their libido levels or sex drive. As per an experiment, the users who found their testosterone levels decreased with kratom were given advice to lower their amount of kratom dosage. As a result, more than 90% of them found their sex drive back to normal, and some even saw an increase in their testosterone levels.
Keep the dosage to moderate to experience fun in your sex life.
Hormonal effects of this natural herb
Kratom does not show any hormonal effects. There is no evidence that supports that kratom strains like green kratom powder cause hormonal disbalance. If you are a beginner in the world of kratom consumption, you don’t have to worry anymore. Moreover, this natural herb comes with a minimal risk profile and provides many other health benefits apart from enhancing your libido.
To sum it up
Kratom is a natural herb that grows amidst dense tropical rainforests. Consuming it comes with multiple benefits for the users. Whether you are experiencing pain, insomnia, or want to increase your focus, there is n number of reasons for taking kratom powder. Don’t forget to try it in a small amount and then gradually increase your dosage as each body react differently to the same supplement. Try and try until you find the right dosage and let it do wonders for your health.
There was an infamous article by the Harvard Business Review a couple of years back that called data science the ‘sexiest job of the 21st Century’. It attracted much attention, not least because data management has been traditionally viewed as a numbers-heavy, statistical world dominated by countless spreadsheets, with only rare gurus of maths being able to operate in it. That has, of course, been changed by companies who have made their fortunes by proper implementation of data, like Meta, Google, and almost every free internet service or tool you can think of. But data isn’t just used to improve the upper echelons of tech businesses. It has trickled down to be easily implemented by most businesses, leading to observable improvements in efficiency and efficacy alike. But how exactly does that work? What are common ways that non-fortune-500 businesses actually use data?
Product Platforming
You might have heard of the product pipeline. This is a model for product development that compares the product to an item being pushed down a pipe to a destination. What does that imply? A one-way flow, where the receiver of the product (the buyer) waits at the end for whatever comes out of it. Sure, some valves along the way might be turned by product testers and consultants trying to ascertain customer feedback, but it was essentially a one-way street. Data can and has completely changed that model, turning product development into a platform instead of a pipe. By collecting data about how your customers respond to your product, use your product, and ultimately love/hate your product, you can make quick changes to your offering simply through that large-scale relationship between the business and its customers. It’s a much more flexible model that allows you to keep customers before they move on to competitors. However, this data needs to be properly managed, especially to avoid potential fines for misuse of data (like GDPR rules). That requires knowledge management software. The best knowledge management software facilitates the business’s growth while protecting important knowledge, content, data, and documents.
Obliterate Inefficiencies
Let’s go back to the inefficiency-spotting model that was inspired by Adam Smith and the industrial revolution. A business owner would check a monthly report, respond with shock at the inefficiency that one particular metric suggested, and proceed to issue an audit or conduct a manual inspection (think slowly walking around the factory floor). This is an exceptionally inefficient process, but it was all that was possible because there weren’t monitoring programs that could show the business owner where exactly the problem was. This is an issue that can be completely solved with adequate monitoring tools and adequate databanks based on the output of those monitoring tools. As long as the data are transformed into digestible graphs (much of which can be done automatically nowadays), the business owner and the management team can instantly see if there is a problem in their business, where that problem might be and then begin the more difficult step of starting to solve it. The speed at which a problem can be solved is a major boon to efficiency, but even more than that, effective data monitoring allows staff to amend a problem before it has even become a proper issue to the company, saving countless downtime and revenues.
Open Up New Revenue Streams
Imagine your company sells a product that is used by a particular type of user. You monitor your data properly, recording, interpreting, and forming a great, detailed understanding of your user, their pain points, and how your solution helps them. This allows you to identify new pain-points. By having such a three-dimensional view of who is using your product, you will also develop an understanding that will allow you to address other parallel pain-points with product expansion. This will allow you to release a new product with a high confidence that it will be used, which will mitigate your risk and make the investment you put into the product a lot less painful.
Alternatively, imagine your company situation is like the company above, but you are either too small to offer a parallel product, or it is not part of your long-term strategy. Guess what – if you have properly identified pain points, that is incredibly valuable information for a company that might want to bring out its own products to offer your customers. As long as you’re sure this won’t cannibalize into your sales, you can sell off parts of your databank that will enable to you to open up an easy new revenue stream that can keep on giving as long as you keep collecting data. Sometimes, this can be more valuable than the product itself, as you can sell the same data to multiple different parties. If your industry is big enough, you can fuel your company’s growth massively using this technique.
A Word on Sensible Data Usage
Did you know that the more films Nicolas Cage appeared in per year, the more people drowned by falling into pools? Or did you know that the lower the divorce rate got in Maine, the fewer margarine people ate per capita? These are examples of spurious correlations, and the world is absolutely full of them. Two things can appear tightly related (the margarine and divorce correlation rate was 99.26%) while being utterly and obviously (to humans) unrelated. As big data develops, data usage can get less than sensible.
Without proper precautions in place (and skilled data scientists), you can collect masses amounts of data that lead to completely false conclusions about your customers and your business. This can destroy the value that the data might bring you, waste your time, and set your company down the wrong path if you’re not very careful.
Part of sensible data usage is, as mentioned earlier, proper security and management of data. It might well be worth hiring a data specialist, especially if a company is thinking of using data to open up new revenue streams. If you do not know what you’re doing, you can get hacked, sued, and even shut down.
