Page 26 - Reclaim YOUR DIGITAL GOLD (without audio)

RECLAIM YOUR DIGITAL GOLD

6. Record Keeping for Process Improvement
Businesses require reliable data to establish baselines,
benchmarks, and targets to continue moving forward.
By gathering and analyzing data, organizations will
be able to set performance goals, recognize their
accomplishments, and make the necessary adjustments
for improvement.

WHAT ARE COMPANIES DOING WITH YOUR
DATA?

Now that we have looked at the importance of data, let’s
consider what companies are doing with your data.

1. Improving the Customer Experience

Many businesses use customer information to better
understand and meet the needs of their customers.
With real-time access to their ever-changing pool of
data, companies can quickly pivot and adapt their digital
presence, goods, or services to better fit the market by
analyzing customer behavior and numerous reviews and
feedback.

2. Turning Data into Money

Data collection companies have sprung up to profit from
the sale of valuable data. There have always been a few of
these companies around, but now this business sector is
booming given the need for and increased value of data.
Data brokers buy data and sell customer information
to companies looking to target their customers more
specifically or to augment or complement their data with

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