Field information... throw it or keep it?
Every sales organization spends tons of hours on the field (regardless is this field digital or classical retail type), during these hours on top of regular sales work, they are on the same "place" with all sort of information: new product/services, innovation of every sort, customers (their interest), management/labor (and their interest), competition - in one sentence "vast data". So the questions here are - does management need this data? Should we collect and analyze internally or go for external resources? What to do with the data when received?
Does management need this data?
Yes please! Although raw/any data will not prevent you to fail in business, properly used right data will lower risks of bad decisions. Millions of dollars are spent every year on data collecting and analyzing different data, and a lot of companies prefer to hire third party suppliers for these. Mainly - not being the experts in collection and analyzing, secondly, being able to blame others in case end results go to wrong direction. So we need it - and we pay for it one way or the other.
Should we do it internally or look for external experts?
It depends on your strategic decisions mainly. Do you need this internal expertise in your line of work or you can cope with the fact someone outside is bringing data and reco's? Without clear insights my rough stance would be - do both (consultants advice). Choose couple of expert outside companies for data harvesting in parts you can not serve, and on the other hand choose data you are going to collect yourself within/with internal resources - and more importantly make sure that data is used, decisions are made based on the collection.
What to do with the data when received?
Lock it away and throw the key? Of course not - although this is happening. Advice - make it easily accessible, challenge your stance/strategy (if you have one), make decision (or make decision not to), make sure that people involved understand the process.
By repeating this process, it would hopefully become part of the Company's DNA - letting everybody know outside a world is always changing, we should be on a look out and evolving.
