01 June 2021
Innovation through insight - Making your data work for you
Using data to gather key insights
Put simply, data is the raw and unprocessed information that businesses capture on a day-to-day basis. By itself, data is inert but once it has been properly processed, it transforms into a formidable element that can power the engines of change in any business. Insights are gained by carefully analyzing data to understand the context of a situation and draw conclusions that can better serve your business going forward. Ultimately, good data must be high quality, accurate, and complete.
Direct-to-consumer (DTC) ecommerce fundamentally focuses on one-to-one brand engagement and the genuine interactions between a brand and its consumers, which actively facilitates the collection of viable and actionable data. But there is even more to DTC — it offers the unique ability to capture customer data that is almost impossible to obtain through traditional retail channels.
With global e-retail revenues projected to grow to $6.542 trillion in 2023, the global shift toward ecommerce is undeniable. And data insights are the tool enabling your brand to move forward confidently.
Opportunity awaits those who are willing to expand into new regions — but how does a business successfully enter a new market? Take a look at our Innovation Through Insight one-pager, which provides a detailed look at the potential power of DTC and data insights in building your brand’s success.
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