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GE Capital’s Office Imaging (OI) business today released a white paper showing OI dealers how to harness the value of big data to offer better service to existing customers, prospect for new customers and, overall, improve the management of their own businesses. It can be downloaded here:
The term “big data” refers to data that can potentially be used for trend analysis but that is so massive — such as the information generated by high-volume business transactions and machine-generated activity logs — that it’s difficult to analyze using common database management tools.
“The OI industry is inherently forward-looking so it’s not surprising that some progressive dealerships are already capitalizing on big data to get a better view of their customers and prospects,” said Glen Clark, vice president and general manager of GE Capital’s OI business. “These are the same dealers that are leading the revolution in the business services industry by integrating information technology into their offerings.”
To avoid analysis paralysis, businesses should identify their potential sources of information and then organize them into accessible and useful segments that will drive action, noted Jeff McGaughey, who manages GE Capital’s Office Imaging programs.
Dealers can provide better service to existing customers by managing data related to meter reads, delinquencies, lease cycle management and data access. But attracting new customers is an entirely different process that involves finding, qualifying, proposing and closing. There are data sources that can help with each activity.
“Dealers will have to tap into a number of information sources to uncover big data trends, but we’re in an environment today where dealers have the potential to prosper by adopting the right software and improving their processes to meet their customers’ needs,” McGaughey said. “We believe that end-users are as hungry for a more integrated approach as the OI industry.”