When’s the right time to start making more data-driven decisions?

Whether you’re a startup or a medium-sized business, if you want to scale successfully you need to make sure you have the right information at your fingertips.

 

Many businesses are under pressure to grow. Harnessing data sources to compete with larger competitors has helped many startups get ahead. It’s also helped existing enterprises transform the way they work.

Big Data is a gold rush for the digital era – if you know how to mine it. In our Business Review, we found that only 19% of businesses are currently able to harness data and insights. And 40% of business decisions still rely on “instinct and subjective opinion”. This is a serious problem for any business that wants to scale.

“It’s important to know the customer you’re looking to do business with and who you want to be able to target as part of your acquisition strategy, says James Tate-Smith, Experian One Product Manager. “Having access to data leads to greater knowledge and a level of comfort that ensures you’re making the right decisions when scaling a business.”


“Having access to data leads to greater knowledge and a level of comfort that ensures you’re making the right decisions when scaling a business.” 

James Tate-Smith, Experian One Product Manager, Experian


All startups begin with a big idea, but the sad reality is 90% of them fail. This can happen even when they’ve got the funding locked down, they’re hiring top talent and are making a name for themselves. But they don’t have enough existing customers to rely on repeat business. And lack the data insight to know how to best target new ones. Under pressure from investors eager for a quick return, they can make rash decisions and big mistakes.

Even established businesses can experience growing pains. They want to provide a better customer experience, to make decisions faster, and provide services around the clock. But they often struggle under the weight of their organisation. They’ve spread data across too many services, so they can’t see the bigger picture. While IT upgrades can take too long to be cost-effective. Especially when switching from manual to digital processes.

“Many markets are now set up where customers can easily switch suppliers, and this means there is a real threat for established businesses to begin to lose their customer base,” says James.

To help both small and mid-sized businesses scale – whether they work in banking, telecoms, utilities or even gaming – we’ve created Experian One. This platform offers an efficient, automated customer acquisition process to help you make data-driven decisions.

Rather than develop your own in-house solution, you can make use of our vast data pool. We hold information on the credit history of more than one billion people and 145 million businesses worldwide. You can integrate Experian data with your own data, so you benefit from a more comprehensive understanding of potential customers.


“The modern marketplace requires a tailored message that can define the differences between you and me.” 

John Curliss, Business Development Manager, Experian


“The modern marketplace requires a tailored message that can define the differences between you and me,” says John Curliss, our Business Development Manager. Experian One can help you define that message. The platform’s Strategy Design Studio lets you test different strategies on a sample of your customer base, so you can find a winning approach that works for you and your customers, without risking your whole business. “This reduces the unknown massively and enables businesses to scale on a tried/tested path,” says James.

Experian One is a cloud-based solution, so there’s no expensive hardware to install and maintain. It can be up and running in days rather than months, so you’re able to rapidly grow your business while staying agile in today’s digital market.

“With Experian One as soon as we innovate, everyone benefits,” says John.

Working in the cloud also means any software updates are automatic, so you’ll always have the latest, safest version. In fact, we securely store all customer data in an enterprise-grade system. This conforms to the highest standard for security, helping you comply with data protection regulations.

If you’re at the point of growing your business, it’s time to say yes to Experian One and yes to happy customers, automated decision making, and sustainable scaling.

Discover how intelligent, automated decision-making could benefit you and your customers.