Business opportunities arise once in a while, it is better to be ready to take them when it’s the time. To have the right information before it becomes of public domain is often the key competitive advantage that makes you identify and/or close a deal before someone else does.
You might think that reliable information and business comes from personal network, however objective data could highlight market trends or prove personal intuitions, providing you the foundations to establish good business connections.
How to interpret the data
Data does not provide you information, you must know where and what to look for. Instead data must be used to validate hypotheses, a process which combines market expertise with analytics resulting in asking the key questions and in interpreting the results effectively.
A good Data Analyst must have an overview of the whole data sources owned by its company, and should be able to reply immediately to three questions: “Do I already have the data needed to answer this question?”, “What is the output that would convey information more effectively?”, “What is the data transformation process required, and how much time is required to arrange such analysis?”