Great brands know...
What their products are, how it looks, and at which price point it sells best. More importantly, they know what kind of emotions they can evoke.
They know how to step from data to wisdom and create the desired impact.
They use every opportunity to source market data and turn it into information. Furthermore, they set up their machinery to extract more knowledge and value from the information created than any influencer can ever produce.
Knowing which tools and mechanisms to use to collect data is one thing. Taking it to a higher level and acting on it is another. Otherwise, insight without action is only a good (or bad) idea.
And, it is easy to claim that your brand is data-driven. Well, displaying data points on a beautifully curated slide is one thing. Taking action from insight gained through knowledge is another. Ask the great brands. They know.
Bottom line: Great brands understand how to step from data to information and knowledge and act swiftly on the insight gained. They recognize the value that wisdom will unlock in the future.
