Does your organization prioritize gathering stable, subjective data from external private sources? If so, you're primarily interacting within an EPSC (Extrinsic, Private, Subjective, Constant) datability type. EPSC data is the foundation of many customer-focused organizations; it's the subjective data that is collected from private external sources and remains relatively constant over time. This data is valuable for maintaining sentiment history, trend analysis, and market understanding. Whether it's business reviews over time, product ratings, or customer feedback, EPSC data provides your organization with a stable, insightful perspective on your market landscape.
Historical Market Sentiment: EPSC data, being constant, provides a historical record of market sentiment over time.Customer Understanding: Given its extrinsic and subjective nature, this data can offer deep insights into customer behaviors and trends.Data Derivation: The ability to create derivative datasets from private data opens up opportunities for industry or sector insights.
Privacy Concerns: Given its private nature, it carries privacy concerns and compliance requirements.Limited Real-time Insights: Being constant, EPSC data might not capture real-time changes and shifts.
Opportunities:Customer Engagement: EPSC data can foster a more interactive customer relationship and drive customer engagement.
Yelp - Review Platform: The constant and subjective data from Yelp's stored business reviews, such as customer ratings, feedback, and comments, is a classic example of EPSC data. This extrinsic, private, subjective, and constant information is vital for understanding long-term customer sentiments and improving business recommendations.
Trustpilot - Customer Review Platform: The steady flow of product reviews from Trustpilot users is another example of EPSC data. These subjective, extrinsic, private, and constant insights effectively help Trustpilot and its clients understand product performance and improve their offerings.
TripAdvisor - Travel Platform: TripAdvisor’s stored hotel and destination reviews heavily rely on EPSC data. The customer ratings, reviews, and feedback are extrinsic, private, subjective, and constant data elements that contribute to TripAdvisor's travel recommendation services.
Best Next Steps to Improve Datability:Invest in Data Privacy and Security: To address privacy concerns of EPSC, consider investing in robust data privacy and security measures.Enhance Sentiment Analysis: As EPSC data is subjective, using advanced sentiment analysis tools can help make the data more understandable and actionable.Increase Data Partnerships: Collaborate with organizations with contrasting datability types to augment and balance your EPSC data.Training and Upskilling: Ensure your team has the skills to handle the volume and specificity of EPSC data.
