This article provides an overview of the power of data within the business world and how to leverage this power through Mike Simonsen’s insights. Companies and business professionals are utilizing data in a range of ways that allow more accurate and efficient decisions. Through data analysis, businesses are better able to understand customer needs as well as generate new insights on how to improve industry operations. This article focuses on how to effectively access and analyze data in order to create meaningful business results.
Mike Simonsen, the CEO and founder of Altos Research, has over 20 years of experience in data business intelligence. He explains that the “ability to access and organize data for insight offers the opportunity for businesses to move from the status quo of decision-making to a more predictive, data-driven outlook.” He emphasizes that finding key data sets and understanding what each data set is associated with allows for far better decisions. The article also mentions that in order to successfully work with data, it must be processed in terms of end-data users.
Simonsen explains that having access to the data is half of the battle; the other half is understanding what the data shows. This is often the biggest challenge, as people must become comfortable with interpreting data in order to comprehend what it truly says. He points out that regardless of what type of data is used, an evaluation framework should be established to provide data users a means to prioritize data types and data-based decisions. Overall, it is important to note that educational resources and interpretation processes must be in place in order to properly use data to make good decisions.
The article then discusses the applications of data and how it is being used to gain insight. Simonsen explains that several new tools have opened the doors for data-driven, predictive decision-making with housing markets being one of the areas where this is especially useful. Data is also being used to identify and quickly act on trends, allowing businesses to focus on their core competencies. Finally, by allowing data to be quickly accessed, analyzed, and interpreted, businesses are much better able to react to changing markets and disruptors.
Overall, this article provided insight on the power that data holds in the business world and how to effectively and efficiently use data to make better decisions. With Mike Simonsen’s expertise, readers gain an understanding of the importance of data and how it should be handled to create more meaningful results. Companies can use this knowledge to advance data analysis, identify trends, and make better informed decisions while emphasizing educational resources and evaluation frameworks.
You can read this full article at: https://www.housingwire.com/articles/the-power-of-data-with-mike-simonsen/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
