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6 Ways Premium News Data Yields Better Business Performance

October 12, 2023 (4 min read)
Premium news data helps you make decisions to mitigate risk and grow your business.

Despite predictions of a “new normal,” the post-pandemic world feels just as tumultuous as ever. In fact, you could say unpredictability is as constant as the tide. The pressure to adapt or risk being swept into obsolescence is great.

That’s why organizations increasingly turn to premium news data to help navigate a business landscape that continues to churn and change. Like a reliable lighthouse, premium news data illuminates the way. It empowers organizations to power advanced analytics, capture a rich array of insights, and keep decision-makers informed to guide your business to greater success.   

In this article, we’ll go over how to use premium news data to make better business decisions and increase your ROI.

Chart a course for success with premium news data

Traditional decision-making often involved intuition or ‘going with your gut.’ However, in today's data-driven world, this approach has been largely superseded by analytics. Research reveals that data-driven organizations are 19 times as likely to be profitable. But relying on internal data alone won’t get you there. By incorporating premium news data into your analytics tools, you gain critical context that helps you dissect market trends, measure consumer sentiments, and assess competitor strategies with evidence-based analysis.

Let’s take a closer look at use cases for premium news data.

1. Identify emerging trends before they become mainstream

Premium news data allows you to identify patterns and trends before they become widespread, providing an opportunity to fine-tune your strategies proactively. In the financial services sector, for example, premium news data can be used to guide portfolio management decisions, optimizing investments.

Similarly, retailers and consumer packaged goods manufacturers can use premium news data to illuminate emerging consumer preferences or market shifts, enabling organizations to adjust supply chains or launch new products proactively.

MORE: 8 ways to use alternative data to improve your financial and data monitoring

2. Mitigate risk more efficiently

Nobody enjoys sailing into a storm unprepared. Premium news data serves as an early warning system, allowing organizations to anticipate regulatory trends or spot reputational red flags before they escalate. In highly regulated industries, for example, ingesting current news helps organizations keep up with emerging threats.

Similarly, analysis of archival news allows organizations to identify if critical partners, suppliers or other third parties have a history of negative news that could pose a risk.  For companies managing complex or extensive supply chains, premium news data enhances the ability to spot potential disruptions and respond proactively. This improved visibility ranges from weather fluctuations and natural disasters to geopolitical turmoil and unexpected "black swan" occurrences.

3. Strengthen your brand positioning

Public sentiment can make or break a brand. With the advent of the 24/7 news cycle and hyper-connected social media landscape, the speed at which public opinion can be molded or manipulated has accelerated dramatically.

Misinformation and disinformation compound this challenge, skewing public perceptions and increasing risks to a brand's reputation. In this high-stakes environment, integrating premium news data from global sources becomes not just an advantage, but a necessity. It allows brands to continuously monitor the pulse of public sentiment, equipping public relations and corporate communications teams to act swiftly and effectively to not only protect but also enhance brand value, steering the narrative in a direction that supports sustained growth.

MORE: Harnessing the power of media intelligence

4. Amplify customer engagement and loyalty

Understanding consumer behavior is key to driving engagement and loyalty. Premium news data provides an illuminating lens into what customers value most, be it sustainability practices or experiential offerings.

Historical news data can help companies understand how consumer preferences have evolved over time, while current news data can flag immediate opportunities for limited time offers or promotional campaigns. And of course, this plays into the final two benefits on our list.

5. Boost sales revenue with tactical planning

Revenue growth—it’s the lifeblood for any business. In today’s rapidly evolving marketplace, however, data to support tactical planning is critical. And internal data alone just won’t give you a complete picture. Premium news data empowers marketing and sales operations by providing actionable insights into consumer sentiment, emerging trends, and demand fluctuations.

With this invaluable resource, organizations can proactively align their sales and marketing strategies to meet or even exceed their revenue objectives. In a landscape where consumer behaviors and market conditions can pivot in an instant, the strategic utilization of premium news data helps ensure marketing and sales remain agile, informed, and precisely coordinated for maximal impact.  

6. Foster innovation and creativity

Creativity thrives on diverse perspectives. Access to a wide array of news data can feed into your organization’s innovation process. Premium news data acts as a seedbed for effective research and development. For instance, historic data can help R&D teams understand the evolutionary context of a particular technology or product, offering a foundational understanding.

Current news, on the other hand, can alert teams to new scientific advancements or competitive moves, offering opportunities to pivot or accelerate projects to meet evolving demands.

MORE: How third-party data helps manufacturers fuel innovation and growth

Decision confidence increases with better data

Navigating the complexities of today's business environment calls for dependable, high-quality information. With enriched premium news data from LexisNexis, easily accessible through an API or the Snowflake cloud-based data platform, you can tap into a robust repository of timely, relevant data to set your organization on a course to unparalleled success. 

If you're looking to harness the full potential of premium news data in your strategic planning, we invite talk with a Nexis Data Specialist today.