How Entrepreneurs Can Use Information Aggregation to Develop Their Enterprise

0
40
How Entrepreneurs Can Use Data Aggregation to Grow Their Business

Everything you need to know about systems that can increase productivity, sales, and growth without photographing in the dark.

Grow your business, Not your inbox

Stay up to date and subscribe to our daily newsletter now!

December
18, 2020

2 min read

The opinions expressed by the entrepreneur's contributors are their own.

One of the emerging technology sectors today is data aggregation, where many millennials come to the fore in the industry to bundle information and convey it in a summarized form.

Aggregation is all around us

Let's take a look at this example to understand what data aggregation is: data collection companies like Facebook collect information like likes or page visits that users consume. This information is carefully organized to promote ads or document what users see on their feeds. In businesses, using behavior metrics such as number of transactions or average age of the consumer helps the business focus on bestsellers.

Related: Opportunity for startups in manufacturing, logistics, and supply chain

What does this mean for the average entrepreneur? Using these types of systems can pinpoint and increase productivity to increase sales and growth.

Related topics: [Funding Alert] Healthtech start-up Innovate raises $ 70 million

Dollars for data

Vasiliy Fomin is a great example of someone currently making money running a data aggregator, bundling information from various sources into a single API, and enabling all types of businesses to deliver their offerings to consumers. He was able to build a thriving business that generated millions in revenue by selling aggregate vehicle data, arrest record data, and more to a network of skilled resellers.

Research and development are essential for entrepreneurs to understand market behavior and provide the best service to their customers. Data aggregators welcome innovation, new ideas, and critical questions by synchronizing with changing industry trends in various aspects such as leadership, hiring, retention, and technology.

Related: 4 Ways Businesses And Consumers Can Take Back Their Data