Why information is currency
THE BIGGEST challenge any business has in this digital age is to understand the customer. There are numerous articles and blogs in the digital space that say the consumer has changed. I would be one to agree with that viewpoint.
But, as I have learned, if we are not careful we will end up eating our own heads off in trying to respond to that sense of urgency that seems to be pervading everything that comes from the blogosphere and the digital environment.
The big advantage of the TADC (i.e. the timber advice and display centre) is that it has a lot of research and data (that lay well concealed in its archives) that can help us have a great deal more confidence about what we can do, and what we should be focusing on to understand the customer and establish real time responses and services.
Data and research is a critical element of what we have done over the years and it will continue to be an important element moving forward. And data we have lots of it. We just need to make sense of it.
First and foremost the data points to one intrinsic fact, that when it comes to the home for consumers, access to information is key. In the digital age information is everywhere. Reading and accessing information on line is one thing talking to someone is as much confirmation as it is integrating experience into the overall analysis.
This is perhaps why the TADC gets so many people contacting us as their project evolves. In fact we are edging close to 25% of the renovators in Victoria contacting us. For the timber market this is a significant proportion of people wanting information and provides a guide as to how we move into the future. The market sees us as a hub for information and this provides us with insights that can be used to align the distribution chain to the needs of the market in a far more focused way.
The fact so many consumers, architects and builders contact us on a daily basis for information indicates we are a bell weather for the industry. The research confirms this. Historical trends of activity in the centre were reflective of trends in the market some months later. To have an anecdotal bell weather that can then be substantiated with additional research is a powerful tool for those who elect to use it.
So, as we progress with the changes in the centre and building on the hub role the centre play using research to offer insights to architects, builders, merchants and of course consumers will be front and central to what we are doing. This builds more information as to what products and services are needed and so for the TADC and industry information will really be a form of currency that we at the centre will use much more.
If anyone would like us to share what and how this information can be used please do not hesitate in contacting us at the centre.