Data Can Grow Stale
Big data is useless unless you truly know what to do with it.
The concept of data is great, but the application is much more intensive. Either you understand what to do with data, or you don’t. And if you don’t, you are merely relying upon the idea of collecting enough data, without knowing how to collect efficient information.
Gobbling up everything into a CRM does nothing for a sports franchise. In fact, it creates clutter. Customer information should be more than that. It should be concise and clear. The blending of what purchases the customer has made, as well as has the potential to make. And more data isn’t worth anything if its left to rot after a few months either.
Data is about understanding a person’s purchase history and likelihood to purchase, including various trends and aspects, better. But you have to understand that data can grow stale if you do not cultivate it correctly.
This means names, addresses, phone numbers and even e-mails.
Everything is up for debate and change.
If there is a data in a system that hasn’t been sifted through over the last few months, chances are that it is now way too old to be useful to anyone, let alone the franchise. This is sometimes hard for executives to understand, especially in the sports industry. Acknowledging this means that merely collecting data isn’t the ultimate task, which most sports executives lean on as an ideal.
This isn’t about a massive data dump. It’s about finding a human element of likelihood in which all data blends together to create a unifying force of purchasing power. It also requires a person or team to constantly update the data, refresh it and ensure that the data used is the more effective piece of important for the sales team that is initiating it.
A lot of data grows stale in the sports industry by virtue of teams existing in silos. The sales teams doesn’t convey their needs or customer information to the marketing or corporate sponsorship side. All of this works against the franchise’s best interest in order to build more revenue.
Franchise executives should be looking at new ways to also change over their analytics components. Never should the numbers just be jumbled around in order to make final results look right. Because that means that numbers are then merely meaningless, without merit. Instead, each result should be carefully considered, asking specifically “how does this help our franchise grow stronger?”
Every component of the data collection needs to be examined. Most of it may not be worth protecting. But there also needs to be guides within the analytic structure that oversee and cull everything input into the system, to find the optimum amount of information collected. This is where a sales team can direct the revenue analyst into ensuring that everything is not only being collected, but that everything collected is actually useful to the sales process.