In the bustling world of digital subscription businesses, data is guiding decisions and steering growth. Effectively organizing and consolidating diverse data streams is fundamental for making informed decisions, optimizing operations, and enhancing customer experience. In this article, we discuss must have data streams for any successful subscription business and provide hints how to efficiently operate through data to fuel effective business decisions.
Let’s start with business processes and relevant data you need to successfully operate car subscription service:
For Business strategy
o Operational Efficiency and Cost Data to monitor operational costs, resource allocation, and efficiency metrics for optimizing business processes and maximizing profitability.
For Operations and management
o Vehicle Performance and Telematics Data to monitor vehicle health, usage patterns, and performance for proactive maintenance, optimizing fleet allocation, and ensuring customer safety and satisfaction.
o Subscription and Billing Data to track subscription plans, billing cycles, payment histories, and customer transactions is crucial for revenue management and financial planning.
o Inventory and Fleet Management Data for managing the vehicle fleet, tracking inventory levels, and ensuring availability are essential for meeting customer demands and optimizing operations.
For Product strategy
o Customer Profile and Behavior Data to understand customer preferences, usage patterns, and behavior for tailoring subscription plans, marketing strategies, and customer engagement.
o Customer Support and Interaction Data to analyze customer support interactions and feedback for identifying pain points, improving customer service, and enhance overall customer satisfaction.
o Feedback and Reviews to get customer feedback and reviews for insights about customer satisfaction levels, areas for improvement, and potential opportunities.
For Marketing strategy, engagement & acquisition
o Market and Competitor Data to monitor market trends, competitor activities, and industry developments for strategic planning, pricing strategies, and market positioning.
o Marketing and Acquisition Data to analyze marketing campaigns, customer acquisition channels, and conversion rates for optimizing marketing strategies and improving ROI.
To make sense of this multitude of data streams, integration and consolidation are key. The aim is to establish a unified data storage system where these streams converge, ensuring seamless accessibility and usability.
To automatically collect and integrate data from various sources use APIs, connectors, or custom scripts. While gather data aim to use one storage, use tags and indexing system to navigate through streams and divide different data types to avoiding siloing data and ease further usage and analysis.
To make it easier to navigate though there is a table with key data sources and gathering methods:
How to gather
Customer and Behavior Data
Registration forms, app usage
data, customer interactions, customer feedback, surveys, and social media
CRM, app / site analytics
platforms, help desks platforms
Customer Support and Interaction
Customer support logs, live chat
transcripts, call center data, and customer feedback platforms
Help desks platforms
Feedback and Reviews
Customer reviews on platforms,
feedback forms, social media reviews
CRM, help desks platforms
Vehicle Performance and Telematics
IoT sensors in vehicles, telematics
systems, GPS data, maintenance records, fuel usage, and diagnostic reports
RAW / API, fleet management
Subscription and Billing Data
Subscription databases, billing
systems, payment gateways, and invoicing platforms
CRM, Accounting Systems, Warehousing
Operational Efficiency and Cost
Expense records, resource
allocation data, operational analytics platforms
Inventory and Fleet Management
Fleet databases, inventory
management systems, vehicle allocation records, and order processing systems
Fleet management software, RAW /
Market and Competitor Data
Market research, competitor
websites, industry reports, and pricing databases
RAW / API
Marketing and Acquisition Data
Marketing automation platforms,
website analytics, advertising platforms, and lead generation data
App / site analytics platforms
Consider using cloud-based solutions for scalable and flexible storage. Design the data architecture with scalability in mind. Ensure the system can handle a growing volume of data and increased data diversity.
By implementing this approach, any business can effectively gather, organize, and store the diverse data streams critical for informed decision-making and operational efficiency. It also helps to scale up any data stream and ease integration of any new software or digital tool without harming data quality.
We create our own services with the understanding that they will need to integrate into the existing data management system of the organization. All Rexalto services have the necessary connectors and APIs, and can be deployed within the existing technological framework, on your servers in real time mode.
If you have any questions – we’re here, ready to chat!