Three questions (and answers) about the importance of data segmentation
Data segmentation can be very helpful in comprehending and analyzing large datasets. But how exactly does it work, and how can you be sure that you are segmenting your data properly? Read on to learn about the basics of data segmentation, how you can use it, and how we can help.
What is data segmentation?
Data segmentation is the act of organizing data into different groups, or segments, based on different attributes. This can be done in many different ways, with many different types of data. A sales department, for instance, could segment customer data by specific needs. This way, they could target customers with specialized messaging. A case study published by the Harvard Business Review explored how this approach can increase sales.
Researchers can also use segmentation to organize their data. Human beings find it difficult to properly contextualize large numbers, such as a massive dataset. Thus, these datasets become much more comprehensible when split into manageable segments. For example, to examine results only when a certain condition is met, researchers could create a segment that consists only of data that meets that condition. This helps researchers to understand their data better, which allows them to use it more effectively.
How can data segmentation help your project?
Different agribusinesses are at different levels of professionalism and maturity. This means that they require different support. A “one size fits all” approach rarely works effectively across an entire project. Instead, targeted assistance based on an agribusiness’s specific needs is more likely to have the desired impact. This targeted assistance does not always need to be on a one-on-one level. Creating entirely personalized curricula for each and every agribusiness can be time consuming and inefficient. Instead, you can segment your agribusinesses into groups that require similar interventions and support.
This sort of segmentation makes it easier to ensure that all of your agribusinesses are getting the support they need. For example, if you create a segment of all the agribusinesses that need help in managing their finances, you can make sure that each agribusiness in that segment receives the required help. This also helps to prevent the wasting of resources. If there are agribusinesses that are already capable of managing their own finances without support, for example, they will not be included in the segment. This means the trainer will not waste their time offering unnecessary trainings, and the agribusinesses will not waste their time on training they do not need.
How can SCOPEinsight help you segment your data?
To segment agribusinesses by their current capacity, it is important to know what that capacity is. The best way to do this is through a SCOPE assessment. Our comprehensive, data-driven assessments examine eight different dimensions that are vital to the success of an agribusiness. Each of these dimensions is given a score between one and five, and these scores are then averaged to create the agribusiness’s overall SCOPE score.
These scores are perfect for segmenting agribusinesses. If you wanted to segment agribusinesses that need help in managing their finances, as in the previous example, you could split the agribusinesses into groups based on their score in the Financial Management dimension. With over 200 high-quality data points collected per assessment, there are many options for segmentation. And thanks to the reports provided by our Business Intelligence department, the data is easy to find and segment.
Segmenting agribusinesses is already one of the ways that capacity builders use our data. And our newest tool, the SCOPE Rapid, is designed to be used for segmentation on a larger, country-wide scale. We understand the importance of daring to select, and we want to make data segmentation as easy as possible so our data is as actionable as it can be.
Are you interested in using SCOPE data to segment your agribusinesses? Contact us today to find out how we can work together.Back to news