Effective and efficient use of data allows a company to better understand the needs of its clients. If you understand industry trends, and the direction that specific clients plan to take, you can better tailor your services to the needs of your clients. Many businesses view data as a resource to be stored, rather than a valuable asset that fuels growth. The key is to treat your data like it is cash. Think about how you make the most of familiar financial assets, like cash, stocks and bonds. You keep track of what you have. You stay updated on changes through bank and brokerage account statements, and perhaps also by tracking financial markets. Now and then you review your assets and give thought to your financial position and how it relates to your goals. Based on your review, you may make changes to investments, take a loan or make an effort to earn or save more to help you meet future goals. This is what you need to be doing with your data.