December 21, 2021
There are many different tools available today that can provide compelling and accurate data. The digital age offers the opportunity to both reach the widest audience and accurately collect data from specific groups.
Marketing agency BSMS podcast "Tirgziņu Tērzes" mini-series on strategies, Latvian marketing and communication experts repeatedly emphasized the importance of data in making important decisions. Business leaders and professionals need to understand that data is an integral part of strategic issues. Inta Buša, the head of the company, comments: “Sometimes there is a feeling that the importance of data in Latvia is not properly assessed due to prejudices or insufficient knowledge. There are still people who say - "the main thing is the idea or the “hunch” will work." I say it's important, but additional data is needed to give confidence that the grandiose idea of “hunch” will work."
Surveys show that people do not reject the data at all - rather, they have not learned and become accustomed to using it. The BSMS / Norstat Express survey of respondents aged 25 to 40 showed that the majority, 68.5%, considered the data to be very important, but only 28.4% said their ability to analyze and interpret the data was a resounding 'yes'. Thus, many do not use or under-utilize the opportunity to make better decisions in their business and personal lives, for example in relation to their careers, work, education or other interests. You can learn to use data both in the company's work with customers and in internal processes.
For example, in the BSMS podcast "Tirgziņu Tērzes", each episode with experts is supplemented by surveys of Latvian residents, which are organized in cooperation with the data company "Norstat", giving a real insight into the overall situation. Data is also needed to create an offer or creative message for a marketing campaign. Merchandising campaigns are developed and implemented on a daily basis with sales data, covering aspects such as product placement, availability and demand. The data can also be used in internal company experiments and surveys, for example, the BSMS replaced an 8-hour day with a 6-hour one for a period of time, followed by an employee survey to help assess and decide on various arguments, aspects or repeat the experiment.
If you want to make data-based decisions and marketing solutions that are in line with the market situation - contact BSMS! firstname.lastname@example.org