You are here: Home - Better Business - Business Skills -

Managing your data is a valuable priority

by: Sally Laker, managing director of Mortgage Intelligence
  • 28/03/2017
  • 0
Managing your data is a valuable priority
Analysing your data and how you store it in your company are essential for a successful business.

Doing so enables you to look after your clients more effectively and in a meaningful way.

Unfortunately it is generally not the first priority when setting up a new business, but it should be, as this will become the key customer management tool going forward.

Keeping in touch with clients is the best way to retain them, especially if you are making that contact relevant.


Customer profiles

Profiling your clients and picking up on the changes in the industry are all new business opportunities to reach out to your single biggest asset, your client bank.

For example, if you can access data to select self-employed clients at the press of a button, you could be contacting them about pressing issues and demonstrating how relevant you are.

Lenders are looking at opening-up a little more to self-employed customers as they now make up a 15% of the working population, and as a result we are seeing more products coming through. If you cannot access the relevant people to contact, it is an opportunity missed, to look after your client and increase your business.


Know the rules

Current data protection legislation already requires businesses to manage the information they hold, but going forward the requirements will be moving up a notch. Everyone will need to understand what data they collect, how they store it and who they share it with as the GDPR (General Data Protection Regulation) deadline is 25th May 2018.

For some businesses this will require a substantial amount of work to ensure that they are compliant with the European requirements.

It is certainly worth spending time now to prepare for the new legislation as, for those that don’t comply by May 2018, there are substantial fines that can be levied for breaches.

There are 1 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.

Read previous post:
Headshot of Andrea Rozario COO of Bower Retirement
The equity release outlook is shifting

Equity release is a small market – but there's nothing wrong with that. However, to really build from this base...