What is data exploitation?

Data is a fantastic resource, volumes of data are exploding and with it, there is huge potential for tapping into the valuable insights it contains.

Data exploitation is "gaining commercial and competitive advantage through the application of data". It's exploiting corporate data where ever it is held, fusing it with on-line , in-house and external data, to build a deep understanding of business and the opportunities it presents.

By unlocking the potential of business data, organisations can make more informed decisions, drive marketing and sell more.

Review each source, auditing its content to establish its currency and value. Understand what it the data means, not just individual fields of data, but in its entirety.

Having understood the data, you will need to integrate the data, consider:

• Building a 360° customer view
• Developing a data warehouse
• Applying business intelligence tools

Build models to understand customer behaviours:

• Create customer segmentation e.g. RFV - recency, frequency and value
• Combine sources of data to provide a wider view e.g. website visits vs. sales data
• Design models to determine current trends and thereby provide an indication of future behaviours e.g. market basket analysis

The most important aspect of exploitation is the data's application to the business:

• Timely and relevant communications
• Programme of incentives
• Change behaviours
• Efficient marketing
• Increase profitable sales

Data provides the basis to reveal a deeper understanding of customers' behaviours, preferences and perceptions relating to your organisations products and services. With this knowledge, tactics and strategies can be developed, tested and deployed to maximise marketing and sales success.

Free guide to data exploitation

This guide provides a structured approach to help you exploit your data.

• Would you like to build a deep understanding of business performance?
• Would you like to discover latent business opportunities?

The expectation is that you know your best customers and products. If not, you might like to view our free guide to delivering business intelligence.

View our free guide to data exploitation