eCapital Advisors wishes you a happy, and safe, holiday tomorrow!
Instead of focusing on the best way to get to the cabin or planning the best place to sit on the parade route, we’ve been excitedly imagining how much data is being produced and pored over to prepare for just one day – oh the data nerds we are.
Imagine going to a corner ice cream shop. Normally the shop does pretty well for itself, but today is different. It’s beautiful and sunny in a busy part of town. It’s also the 4th of July and the parade route runs right in front of the shop.
That ice cream shop is going to be booming! But how did the shop know how many cones, tubs of ice cream and cones it should stock up on to serve its patrons for the holiday?
The answer is data. And a lot of it.
That ice cream shop probably collected historical data from previous 4th of July sales trends. It analyzed the data for patterns and put predictive parameters in to make smarter business decisions. The shop needed to account for possible weather changes, parade attendance, vacationers and more.
That’s where business analytics software can help. Just feeding all that data into powerful software could be enough for that ice cream shop owner to make a pretty good prediction of what it needed in stock to meet customer demand.
Data is everywhere, all the time, just waiting for someone to read into it successfully.
So whether it’s the ice cream shop on the corner, the fireworks display in the park or a parade float throwing candy, chances are that business had a lot of data to sift through in order to make your 4th of July a fun one.
And if it wasn’t as fun as it should be… after the holiday send them to us.
Happy Independence Day!