Historically, the bases of the success of the commercial strategy have been mutating. Until the middle of the last century we talked about mass production models, which gave the manufacturers of that time an important competitive advantage. In the early 1950s, business models based on distribution and marketing emerged strongly. Starting in 1990 with the irruption of the www, the Internet and electronic commerce business models emerged, making us enter the information age. From 2008 onwards, customer-centric business models gain strength, and finally, from 2020 in the midst of a pandemic, data-based predictive business models gain prominence.
Today more than before the importance of data is evident. According to a report from the US Bureau of Labor Statistics., the increase in data science needs will create approximately 11.5 million jobs by 2026.
In a world where data is the key resource for commercial success, the strategy cannot be immune to this phenomenon. This is where we talk about a data-driven strategy that promotes the combination of small data (small data) and big data.
A data-driven strategy is one that enables business specialists to provide answers to what and how early and effective decisions will be made through the analysis and interpretation of data. Therefore, data must always be at the center of any strategic and business decision. We speak then of commercial strategy based on data.
The data used in this particular type of commercial strategy is obtained from various sources, such as social media activity, interactions on a website, online purchase behavior and user browsing behavior.
For data to be powerful, it must be key to business strategy and must engage the entire organization. The information obtained from the key data must be accessible and actionable for its correct interpretation, thus creating a culture based on data.
The advantages of a commercial strategy based on data lie in the high quality information that is obtained, from the intelligent analysis of data that comes from potential clients, being able to predict the future behavior of audiences and in this way design commercial strategies and of marketing that make it possible to reach the right customer, with the right product, together with a relevant message, at the right time, and through the most efficient channel.
We can conclude that a commercial strategy based on data is synonymous with success in the present and future of business.