Page 68 - Future Demands Jan 2021

Taking our own advice
Twenty7Tec is, at its heart, a data provider. Yes, we’re lovely to deal with and we have a great culture that’s hard to duplicate. But, at the heart of our model is excellent, accurate, and reliable data, delivered to you fast, whenever you need it.
In 2020, we started to look deeper into what trends we could see in the market data and how we could improve our business as a result.
We launched a new market report each month, providing insights that
Post lockdown, we saw broker behaviour habits change, with longer working hours and higher volumes of searches per ESIS document becoming the norm. Meanwhile, consumers – now mostly home-based – were performing more direct searches during office hours, as opposed to the traditional hot spot of 8–10pm.
Data without insight is one dimensional, and insight without action doesn’t solve problems, and we recognised we needed to respond to meet this changing demand.
But, we’re not done, and we will continue to use our data to learn about our customers’ needs, and improve our products and services to meet these, during 2021 and beyond.
We also believe that our customers – lenders, brokers, intermediaries and others – would see great benefit from seeing how that big data we have on the overall industry, aligned to their own performance, can revolutionise their business. Better informed decision making really does deliver better outcomes.
FUTURE DEMANDS
“IN 2020, WE STARTED TO LOOK DEEPER INTO WHAT TRENDS WE COULD SEE IN THE MARKET DATA AND HOW WE COULD IMPROVE OUR BUSINESS AS A RESULT”
brokers and lenders could act on. It has gone down well, and one of the things that sets it apart from other industry reports is its timeliness – it is issued within one or two working days of the new month. It draws on the data that is available to all our INSIGHT customers, and we feel that there’s a lot more to be done in this area, so watch this space in 2021.
We also had the data to show that consumers and brokers were behaving differently as a result of COVID-19.
So we adapted. We moved from a field sales operation to a brilliant online team that is now available for video and voice calls from 8am – 6pm every day. This meant that we could ensure that our support team was there and ready to help for the times when over 90% of broker searches are taking place.
Like the Oakland A’s, we had the data at our disposal and, when aligned with insight and a desire to get the best possible outcome, the changes we needed to make became obvious.
At the very least, you’ll get to know your own industry a little better. However, just like Billy Beane, we’re very confident the insight will help you transform your approach to doing business, and emerge from this terrible period as a winner.
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