Imagine you’re walking into your local shopping center. Only instead of the familiar advertisements you’re used to seeing, now every ad seems to speak to you as if it’s tailored to your every desire. To your left, there is an ad for that brand that makes that pair of shoes you had bookmarked in your web browser since last week, and to your right, there is another promotion for your favorite beauty brand. How can they know all of this? After all, you’ve never shared with anyone your browser history.
The easy answer is data. The complex answer is information insights. At the end of 2022, we wrote about the best digital signage trends in 2023 and identified datafication as one of the most important trends to incorporate into your digital signage project. Today we’re going to have a deep dive into what exactly data and information are, how are two related, in which ways they differ, and how you can leverage both to generate insights and achieve your digital signage goals.
What is data?
There can be a lot of confusion when it comes to data and information. Sometimes, people tend to use these two terms interchangeably. However, they don’t mean the same thing at all.
Data is the raw material that allows you to generate insights regarding any topic. All you need to do to make sure these insights are useful is collect the optimal amount of data, until reaching saturation, which is different for any project. Now, you might still be confused about this, but let’s make it simpler. Anything that allows you to understand a phenomenon better is data. Moreover, data is the basis of everything around us. From the time it takes for the red light to turn green to the latest fashion trends, with enough data, most things become predictable.
In digital signage, data integrations can be used for many different applications. We have written about how data-driven content is shaping the future of digital signage before. Have a look at it to learn more about this topic. One of the most popular applications of data-driven digital signage is in retail where sensor-based technology is making a comeback.
Here, at MagicInfo Services we have developed the YoYo add-on, which can be customized to any business. YoYo measures and tracks consumer engagement and campaign effectiveness. It collects reports and statistics from the triggers to see which triggers perform best, allowing you to optimize your content and campaigns.
What is information and how can it be turned into useful knowledge?
Moving on, once you have enough data, you’ll notice repeating patterns. This can be something like: between 3 and 4 pm, there is a lot of traffic to a specific section in your store or something more specific like 100 people bought a specific item in the past 48h. Once you figure out these patterns, they’re no longer considered data, but information.
If we go one step further, information can be used to generate knowledge. Through a process of analytical thinking and deductive reasoning, you might find that the information points mentioned above are somehow related. Perhaps the reason why there is so much traffic in a specific area between 3 and 4 is that around that time you stock up again on the product that everyone seems to want to purchase lately. In time, knowledge becomes insight, which, together with experience, turns into wisdom.
In the upcoming years, digital signage will expand its application beyond our scope of imagination, perhaps even beyond our wildest dreams. There is a lot of conversation about digital signage and AI, VR/ AR, and of course, the Metaverse. Having useful knowledge at hand and understanding how to leverage it for your business is essential for thriving in this economy which is becoming increasingly automated. So is understanding the steps one needs to take to go from data to wisdom.
Data, information, knowledge, and generating insights for digital signage
Now that we cleared out the difference between data, information, and knowledge, we can talk about using them to generate insights for digital signage.
Data integrations, MagicINFO and Datalink
Depending on the digital signage solution you opted for, there can be data integrations available, making it easier to manage your content. For example, if your digital signage solution is MagicINFO and you opted for the Premium License or Premium Cloud subscription, you can download Datalink, a great tool that allows you to connect external sources to the MagicINFO environment. If you’re in the restaurant business and you wish to display the menu and automatically update the prices, this can be done via Datalink. In case you’d like to download the software you can simply reach out to us via [email protected].
Check out the video below for more information about working with Datalink. If you’ve enjoyed it, consider subscribing to our YouTube channel, MagicInfo Services. We regularly upload content showing you how to use different features available with MagicINFO.
Using digital signage kiosk displays for collecting data
Depending on your business needs, there are many things to keep in mind. For instance, if you’re just getting started, it can be tricky to figure out which displays are compatible with MagicINFO. Luckily, we recently wrote about this topic so check it out for a detailed account of the different types of digital signage displays.
In this section, we’re going to focus on digital signage kiosk displays. They can be customized with touch screens or other interactive options allowing you to collect and store useful data about the products you’re selling, making them really effective for generating information and knowledge. Let’s say your goal with digital signage is to create a luxurious customer experience in your showroom with digital signage and MagicINFO. Kiosk displays allow your customers to be more in control, but they also allow you to see which are the most chosen options, and what are the peak times for sales in the showroom so you can prepare in advance. The best part about using digital signage kiosk displays is that they can be fully customizable, starting from the Kiosk app. Just remember that the kiosk displays from Samsung come in one standard size of 24 inches.
Conclusion
Today’s blog aimed to solve the confusion about data, information, knowledge, and how to use them to generate insights for digital signage. We looked at what each of these terms means, how to use digital signage kiosk displays to collect data, and we talked about data integrations such as Datalink to make the most of your signage project.
(2023, March 28). Joey – MagicInfo Serbices. Retrieved from https://blog.magicinfoservices.com/blog/knowledge-is-power-using-data-and-information-for-effective-digital-signage-management
