Is Growing Top-Line Revenue a Business Priority For You in 2024?

Posted on:

December 8th, 2023

Posted in:

Insights & Thought Leadership

Leveraging your data is a key factor in making this happen.

Is Your Data Organised into One Single Source of Truth?

Your data is your most valuable asset BUT can only be translated into commercial gain once it is organised, accessible and accurate.

Creating a foundational central repository for all company data, driven by real-time systems and giving access to rich analytics is the first step of any organisation’s data journey. Have you made this step yet?

Data is an integral asset when it comes to growing revenue, with both historical trends and real-time market analysis informing what are appropriate targets. Through your data and paired with internal expertise and experience, you can identify profitable ways to grow and invest accordingly.

A real-time view of your data will also help you understand progress against targets in all business areas and quickly raise awareness of issues or challenges so a suitable resolution can be found, in good time.

Is The Single Source of Your Data Available to Business Stakeholders In Near To Real-Time?

Without the single source of all of your business data available in real-time, you will suffer from many top-line limiting issues, such as:

  • Static reporting and retrospective analytics are out of date before being used. Often, more time is spent gathering the data than driving intelligence-based decisions from it.
  • New initiatives are expensive to launch which can stifle innovation. A single source of data can be used to inform and power new initiatives.
  • Manual processes take up resources when automation is a cost-effective option.

Are Business Stakeholders Able to Use Data to Truly Understand In-Depth Business Performance? 

A lack of visibility of key business metrics can make it difficult to grow top-line revenue.

When KPIs are not available in real-time, it is impossible to drive action at the point of highest impact. Once visibility in real-time is in place, the commercial expertise within your organisation can be applied at the absolute ideal time, and the results of such initiatives tracked and measured.

Are Key Business Processes Automated Via Al and ML?

Technologies such as AI, Machine Learning and data science techniques are becoming more accessible, but well-organised and managed data is a prerequisite.

Once an organisation’s data foundations are in place, with a single view of data available in real-time, the potential of AI, ML and Data Science to grow top-line revenue can be explored.

This wide-ranging and rapidly expanding field of possibility includes opportunities for the identification of new customers, areas to grow revenue from existing customers and the eradication of efficiencies, as the mere tip of the iceberg.

 What Can a Data Partner Do That You Can’t Do Internally?

Clekt are a data partner with commercial expertise and view all investments in data through the potential return on investment.

Working with us gives you access to an expanded team of highly experienced data and business professionals, driven to achieve your required business outcomes from day one.

With a personalised approach, we bring vast experience in translating data into commercial advantage, in stages, ensuring your investment in data generates ROI, driving change in a systematic and bespoke manner designed specifically for your organisation.

Now is the time to stress test whether your data is going to help or hinder your revenue growth plans in 2024. Get in touch to discuss your data requirements today.