Add context to your business data and proceed from “who” and “what” to “where” and “why.” Context expands your understanding of the places, surroundings, people, and behaviors that impact business activity — giving you a substantially better-informed view of your business.
To get a bigger picture that starts to answer “why,” add context to your understanding of each location or service area.
· What is the neighborhood like – retirees, young families, established professionals?
· How many people live in the area, and what’s their income?
· Are they commuters, or do they work locally?
· What kinds of businesses are within walking distance of yours?
· How close are your competitors?
· Will weather patterns in this area impact business volumes?
Context provides the insight you need to recognize market trends and shifting customer preferences, so you can anticipate future demand and make informed, confident decisions about your business. Ultimately, context is the crucial component that builds data integrity and fuels optimized business processes, product innovation, and more personalized customer experiences.