What Is 'Slow Data'?
To understand 'slow data,' we must first understand 'fast data.'
Fast data is great for agile and rapid responses when companies are moving in a specific direction. However, it is not best used when there is a significant shift in strategy or direction. Slow data, however, comes with intervals where business owners can analyze the present trends, compare them against historical situations, and take note of the performance. Slow data offers a more strategic outlook in e-commerce marketing, which allows users to put effective programs of change into play and support long-term growth. Far too often, marketers rely completely on fast data, which ends in making adrenaline-fueled decisions to steer the resources and activities of a company. While it has the potential to deliver serious change within the moment, it doesn't necessarily have a positive or long-term commercial outcome. Abusers of fast data often seize on it to justify their specific world views instead of interrogating the data to find potentially contrary views, which might be able to generate more profit or revenue if only they were understood.
Utilizing both of these systems is key. Fast data is great for optimizing current propositions and putting agile processes into play. Slow data, on the other hand, is best for unearthing deep insights or opportunities to help shift the focus or make changes of deeper importance.
Presenting Slow Data
Slow data is a combination of quantitative key metrics that leaders in eCommerce gain a better grasp on connections of trends when analyzed and evaluated. These connections are not often seen in the wave of data that floods into inboxes during regular quarters.
If you are interested in how you can implement certain kinds of data into your eCommerce strategies, make sure to shoot us a message here at Gold Level Marketing.