This post is based on a quote I came across from Kevin Coleman describing how raw data fuels intelligence:
Data when processed becomes information, information when analyzed becomes knowledge, and knowledge when applied becomes intelligence.
- Kevin Coleman, Chief Strategist at Netscape
The following diagram describes the power of local information and how it fuels intelligent decisions:
For context, here’s how this process works when a broker comes to Onboard to help power their business:
Onboard partners with various data providers to pull together local data from a bunch of different sources. The data is out there in various formats and through numerous companies, but it’s kind of all over the place. We pull it into one place.
We then process that data to make it standardized and relational. When we’re done with this process, the data points interact with each other. The raw data becomes valuable information. So rather than just have the data on a school, for example, you can search a specific neighborhood and see what schools are available in that area.
That’s taking a point of data and turning into information.
When we work with our broker clients, we take that information and help their development team create user experiences that inform the end consumer. So their consumers can easily go online and find what they’re looking for. They can search a specific area, narrow that search based on lifestyle and economic preferences, and gain the knowledge they need to make informed decisions.
End consumers are then able to take that knowledge and apply it to their home searches. Now, armed with this knowledge, they can be intelligent about one of the largest investments of their lives.
This is just one example on how raw data can power intelligent decisions. The same theory can be applied to making business decisions, to larger financial investments, to sales and marketing strategies and beyond.
The application of this theory is really limitless.
And therein lies the power of local information. It’s not in the data itself – it’s in the intelligence it creates.
If you are interested in finding out how local information can provide invaluable intelligence to your business or your clients, contact us today.