Every minute and second of every day, your business is generating data, so much so that it can be difficult to see the wood for the trees. Information obesity is a problem.
In business, there is a tendency to think more is better, but when it comes to data this is not necessarily the case. Technology means businesses are better than ever at gathering data about their business.
This can produce all sorts of business benefits, but it does lead to a growing problem in the digital age: information obesity. Here’s some more info about what that means.
Trim down your excessive data by automating your management system.
If you collect too much data, how will you be able to see what’s useful and what isn’t? Data overload is a serious danger and you’ll need to know which data needs to be skimmed.
If you don’t have the structure to manage data effectively, this flood of information can make life much worse and cause you to make decisions which prove to be counterproductive.
Here’s why. We know that data findings that aren’t actionable aren’t worth a thing.
From the perspective of a dealership, taking a deep dive into data about who buys cars will not generate value unless it helps you to focus your sales efforts on better prospects and away from cold leads who are never going to make a purchase.
In other words, data analytics only works when it changes behaviour and adds sufficient value to turn someone into a potential buyer. If you’re overloaded with data, it’s very difficult to identify the correct opportunities which can cause you to waste time and money running down a blind alley.
So, while many companies focus on collecting data, you will need to slim it down. Here are three ways in which next-generation Automated Metrics solutions can make this process faster, cheaper and more effective.
1) Capacity and demand management
You need to understand and manage data capacity. Any unnecessary information will just add useless baggage. To skim information obesity, you want to optimise resource allocation and use data more effectively by prioritising high-value work.
Any data which won’t let you balance out capacity and demand should be culled and useful data should be planned, organised and structured to facilitate prompt decision making.
2) Resource utilisation
Resource utilisation plays a vital role. It puts the right resources at your disposal to support your goals and make your dealership more efficient.
Doing this successfully will alleviate a whole lot of stress in the workplace by
providing accurate and reliable information which is highly relevant. This way, you and your top management team, can focus on other important aspects and drive your business forward.
It will also boost the accuracy of your data by automating manual processes and eliminating the inevitable factor of human error. It will be more standardised, transparent and reliable, and boost the motivation of your employees to optimise your resources.
3) Progress and time tracking
Tracking progress at all times can be especially valuable. It helps you formulate data into more practical formats which are easier to use and understand.
Furthermore, this adds value by reducing the time spent in managing, processing and distributing data which eliminates data overload and makes it easier for your employees to take this data and use it to access potential customers.
A comparison can easily be drawn between planned effort versus actual effort to improve estimates, decision making and gain a better understanding of where your resources are truly spending their time.
Combating overload with Automated Metrics: reducing information obesity
To sum up, automated data management can have an enormous impact on your business. It helps you summarise your data into a simple, easy to use, and more actionable format and makes life for you and your employees a whole lot simpler.
Furthermore, it helps to formulate your data into a more practical approach which reduces the time you spend organising your data.
Such an approach will eliminate your problem of ‘info obesity’.
By doing so, it can reduce workplace stress, give you more reliable information and, most importantly, increase the accuracy and transparency of the information circulating within your organisation.
At Automated Metrics, we’re here to help you achieve your business goals. To find out more about us, feel free to schedule a call. Our team will be happy to help.