One often overlooked benefit of a data collection and analysis service is that of risk management. Every company needs to be aware of all organisations with whom they are interacting, and it is important to assess the risk involved with every transaction.

Data Eco’s superior analysis and research allows you to find the most information possible on every other company so that you can make a sound decision based on your trust in them. By harvesting up-to-date data and performing in-depth analysis, your organisation will be able to make accurate decisions and assess risk and reward ratio more efficiently.

Risk management is an essential part of business

In order for any company to survive in the UK they need to understand any risks that could be impacting their business. When you can see the risk and understand the potential impact then the necessary actions can be put in place. A common assumption in a lot of businesses that fail, is the suppliers they use will always be there. When circumstances change and the Supplier stops providing the crucial products or services your business needs, then the impact can be devastating.

A plan B is always needed to ensure you have a way to recover your business supplies and keep your company operating.

Cashflow in business

The Cashflow between several businesses operating in a domain is sometimes key when the nature of programmes have long payment milestones. The smaller companies are often held to the mercy of the bigger players because of how the capital is distributed. The Construction industry is a good example, where programmes need a combination of large and niche small companies for projects. The large companies may hold access to the key funding and investors while the smaller ones are all dependant on the one company for payments.

Even the local or mobile food businesses that feed the workforce have to be aware of risk management, as if the workers don’t get paid then there is no food money.

Data Eco uses a unique combination of social, business, and legal data sources to shine an accurate light on the relative health of any company. You’ll learn to recognise red flags that show if a business is in trouble or likely to default on payments. However, data isn’t always about what is happening right now. We also use machine learning algorithms from past companies to determine why they didn’t succeed and then translate it into data that can be used today.

By taking proactive steps we can help existing companies avoid these failures.

You’ll also learn about every company’s strengths and weaknesses, so you can evaluate which services and products are best to purchase and which are best to avoid.

It’s time to keep your finger on the pulse by tapping into our one-of-a-kind services.