Data metrics build to make more informed decisions
We’ve witnessed our American democracy at work this month. A record number of people voted. Across our diverse land, nearly 160 million exercised their rights and used the power of the ballot to choose a representative government that will work for what they value most.
The rolls of voters form huge databases across the U.S in tens of thousands of districts, townships, and counties. Political parties employ analysts who parse the data to identify voter demographics and preferences for party, issues, and messaging. Data metrics build for more informed decisions.
Electoral metrics reveal actionable insights. Data scientists tell us that the metrics following this year’s election revealed some significant shifts:
- 60 million-plus American’s voted by mail in 2020. Having experienced this safe and easy alternative during this pandemic, they probably won’t be inclined to return to a less convenient method.
- More younger voters cast a ballot than ever before.
- More people of color voted than ever before.
- A realignment of regions and issues occurred within the electorate.
- And of course, a new president and vice-president were elected, who will bring new vision and initiate realignment with constituencies and other countries.
Wise business leaders also mine metrics from their data. It’s the whole reason CRM – customer relationship and management software – exists. CRM is a relational database that holds information about a lot of individuals.
At its most basic, a CRM system contains demographic information. This includes names, where people live and work, their occupations, and how to contact them – phone numbers, email addresses, locations, and more.
But if that’s all organizations use a CRM system for, they are missing out on a wealth of information that could contribute to business development and fruitful action. Fully implemented and embraced by leadership and all team members, CRMs reveal what analysts call psychographics: patterns of behavior, motivations, interests, and preferences.
For instance, a bank wants to know which demographics of prospects are most likely to be interested in which financial products, when it needs to innovate a process to improve customer service, and when small business owners are ready to take a growth step that requires additional financing.
An auto dealership tracks purchasing patterns such as what car make and model each person favors, what color they like, what accessories they consider must-haves, how often they trade, and the primary use for which they need a vehicle.
Knowing Your Customer better than a Competitor does
A well-used CRM provides business intelligence and analytics that will answer many questions and help guide faster, better decisions.
- What do your customers prefer, both as individuals and in the aggregate?
- Who are your ideal customers?
- What are their key interests related to what your business provides?
- Do you have all the information you need to make intelligent decisions for next year and beyond?
- Do you need to realign aspects of your business to nurture more meaningful relationships with customers and strategic partners, given the current market and cultural climate?
Knowing this unique information about your contacts and your own business is a competitive differentiator that will enable you to succeed in our rapidly changing world. Using it allows you to grow in a focused, accelerated direction and become more profitable.
In the election, the metrics also reveal which types of voters preferred to use which voting processes. Creatio CRM also understands how processes must work together with the database for optimum performance. In designing their transformative solution, they built their database right on their business process management framework.
- What do metrics from your CRM database tell you about the psychographics of your prospects and customers?
- Where does your business intelligence have thin spots?
Maintaining the status quo will not be enough to stay relevant. Change is accelerating – your business transformation needs to be agile enough to respond. Vote for your own success by investing in the tools you need to become your own data analyst and sync your processes with how your customers want to interact with you.
As CRM consultants, Julie and I fill the role of data scientists on your behalf. We partner with you to analyze what you need in a CRM system to fit your unique needs and culture. Let’s explore answers to those questions together. Contact us today - 269-445-3001
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