Foundation of cloud application development

At its core, cloud computing involves the delivery of computing services—including servers, storage, databases, networking, software, and more—over the Internet. This shift away from traditional on-premises infrastructure offers numerous benefits, including cost savings, scalability, and increased flexibility. Cloud development application services, a critical aspect of cloud computing, further enhance this ecosystem by providing platforms and tools tailored specifically for building and deploying applications in the cloud.

Cloud application development services encompass a range of offerings designed to streamline the development lifecycle and empower developers to create robust, scalable applications with ease. These services typically include integrated development environments (IDEs), continuous integration and continuous deployment (CI/CD) pipelines, version control systems, and collaboration tools. By leveraging these services, development teams can accelerate time-to-market, improve collaboration, and ensure the reliability and scalability of their applications.

Furthermore, cloud development application services often incorporate advanced features such as auto-scaling, monitoring, and analytics capabilities, enabling developers to optimize their applications for performance and cost efficiency. These services abstract away much of the underlying infrastructure complexity, allowing developers to focus on writing code and delivering value to end-users.

Emerging trends in cloud application development

Let’s look at some of the emerging trends in cloud application development.

Serverless computing

Serverless computing, also known as function as a service (FaaS), allows developers to run code without having to manage the underlying infrastructure. Instead of provisioning and managing servers, developers can focus on writing and deploying functions, which are executed in response to events or triggers.

Serverless computing offers several benefits, including reduced operational overhead, improved scalability, and lower costs. However, it also presents challenges related to performance optimization, vendor lock-in, and resource limits.

Serverless computing is gaining traction in various industries, particularly for event-driven applications, real-time processing, and batch-processing tasks. As adoption grows, developers are exploring new use cases and best practices for leveraging serverless architectures effectively.

Microservices architecture

Microservices architecture involves breaking down applications into smaller, loosely coupled services that can be developed, deployed, and scaled independently. This approach offers advantages such as improved agility, resilience, and maintainability compared to traditional monolithic architectures.

Microservices enable teams to iterate quickly, deploy changes without impacting other services, and scale components independently based on demand. Additionally, they promote a culture of autonomy, allowing teams to choose the best tools and technologies for each service.

Cloud platforms provide the ideal environment for deploying microservices, offering features such as containerization, orchestration, and auto-scaling. By leveraging cloud-native technologies, organizations can accelerate the development and delivery of microservices-based applications.

Containerization and orchestration

Docker is a containerization platform that allows developers to package applications and dependencies into lightweight, portable containers. Kubernetes, meanwhile, is an orchestration tool that automates the deployment, scaling, and management of containerized applications.

Containerization offers numerous benefits, including consistent environments, resource isolation, and efficient resource utilization. Containers also enable developers to build once and run anywhere, streamlining the deployment process across different environments.

Kubernetes simplifies the management of containerized applications, providing features such as automatic scaling, self-healing, and rolling updates. By leveraging Kubernetes, organizations can ensure high availability, resilience, and scalability for their cloud-native applications.

AI and machine learning integration

AI and machine learning technologies are increasingly being integrated into cloud applications to enhance functionality, improve user experiences, and drive insights from data. From natural language processing to computer vision, AI capabilities can be applied across various domains to unlock new opportunities for innovation.

Cloud platforms offer a range of tools and services for training, deploying, and managing machine learning models at scale. By leveraging these capabilities, developers can incorporate predictive analytics, recommendation systems, and other AI-driven features into their applications with ease.

AI-powered applications are transforming industries such as healthcare, finance, retail, and manufacturing, enabling organizations to automate processes, personalize experiences, and make data-driven decisions. As AI continues to evolve, its integration into cloud development workflows will become increasingly prevalent.

Edge computing

Edge computing involves processing data closer to the source of generation, reducing latency and bandwidth usage by offloading computation from centralized data centers to edge devices. This distributed approach enables real-time processing, low-latency responses, and improved reliability for cloud applications.

Edge computing offers several benefits for cloud application development, including enhanced performance, increased resilience, and support for latency-sensitive workloads. By moving computation closer to end-users or IoT devices, organizations can deliver faster, more responsive experiences.

Edge computing introduces challenges related to data security, network connectivity, and management complexity. Organizations must carefully evaluate their requirements and architecture to ensure a seamless integration of edge and cloud resources.

Best practices in cloud application development

Here are some of the best practices that you should be aware of when it comes to cloud application development.

Security considerations

Security forms the bedrock of cloud application development, necessitating a multi-layered approach to safeguard sensitive data, counter potential threats, and adhere to regulatory frameworks.

Best practices encompass various measures including encryption, which involves encoding data to prevent unauthorized access; access control mechanisms, which regulate user permissions to minimize the risk of data breaches; threat monitoring tools, which continuously scan for suspicious activities to detect and respond to security incidents promptly; and regular security audits, which assess the effectiveness of existing security measures and identify areas for improvement.  

Performance optimization

Optimizing performance is crucial for delivering high-performing, scalable cloud applications that meet user expectations for responsiveness and reliability. Techniques such as caching involve storing frequently accessed data closer to the user, reducing the need for repeated data retrieval operations and improving throughput.

Load balancing distributes incoming network traffic across multiple servers to prevent overload and ensure optimal resource utilization. Additionally, code optimization focuses on streamlining code structure and algorithms to enhance efficiency and minimize processing delays.

CI/CD pipelines

CI/CD pipelines automate the software development lifecycle, streamlining the process of building, testing, and deploying code changes. Continuous Integration involves merging code changes into a shared repository and running automated tests to detect integration issues early. Continuous Deployment automates the deployment of code changes to production environments, enabling teams to deliver software updates quickly and reliably. 

Monitoring and maintenance

Monitoring and maintenance are essential for ensuring the availability, performance, and reliability of cloud-based applications. Robust monitoring tools continuously track key performance metrics and alert administrators to potential issues, enabling proactive troubleshooting and incident response.

Establishing service level objectives (SLOs) helps define performance targets and monitor adherence to service level agreements (SLAs), ensuring that applications meet user expectations for reliability and responsiveness. 

Conclusion

As we look to the future, the possibilities are limitless, with cloud technology poised to revolutionize industries, empower developers, and drive digital transformation on a global scale. By embracing emerging trends and best practices, organizations can confidently navigate the sky of cloud application development and achieve new heights of success.

Best 15 art business ideas

Here are some creative and profitable art business ideas that you can start right away:

Sell laser-engraved canvas paintings

Laser-engraved canvas art is an increasingly popular product that can be a lucrative business opportunity. Using a laser engraving machine streamlines the production process, minimizing material waste and cost. The machine engraves precise designs onto canvas quickly and efficiently. This results in sleek, modern artwork far superior to traditional hand-painted canvas. With efficient production and visually striking end products that customers love, a business selling personalized laser-engraved canvas could do very well. The combination of technology and art crafting makes for an innovative business model with strong demand and profit potential.

How much you can make: $30-80k profit potential
How much does it cost to start: $5-10k for equipment
How long does it take to build: 6-12 months to drive sales

Custom branded items for corporates

Creating customized branded merchandise is an excellent business opportunity serving corporate clients. Companies routinely order items like printed t-shirts, mugs, pens, bags, and tumblers in bulk to build their brand. As a crafter of custom-branded goods, you can develop lasting partnerships with corporate customers who order these items regularly in large quantities. Meeting the ongoing branding needs of business clients by providing personalized shirts, promo products, and more can lead to steady, recurring revenue.

How much you can make: $100k+ profit potential
How much does it cost to start: $10-20k for equipment
How long does it take to build: 6-11 months to gain clients

Screen printing business

A screen printing business allows for artistic expression while being commercially viable. There is consistent demand for screen-printed goods like t-shirts, posters, and signage across industries from sports to fashion. The materials needed for screen printing like screens, ink, and squeegees have low costs, leading to good profit margins. The equipment is also affordable, with basic starter kits available for under $500. Modern digital exposure units utilize laser engraving for precise image developing on screens.

How much you can make: $100k+ profit potential
How much does it cost to start: $10-20k for equipment
How long does it take to build: 6-10 months to establish

Restore antique furniture or decor items

Reviving old furniture and decor is a creative endeavor for those who appreciate history and craftsmanship. Antique restorers carefully work to repair, reupholster, refinish, and restore vintage pieces to their original glory. This may involve finding replacement parts, disassembling items to reglue joints or reinforce structures, stripping old paint and stain, applying new finishes, reweaving cane or rush seats, and more. Restorers often work closely with antique sellers or collectors to source authentic materials and retain the antique’s uniqueness. Breathing new life into well-loved antiques takes patience, skill, and respect for the past while making these treasures ready to be cherished for years to come.

How much you can make: $30-80k profit potential
How much does it cost to start: Under $1k startup costs
How long does it take to build: 6-12 months

Design calligraphy

Calligraphers can start their own business by selling custom fonts, designs, and lettering for cards, invitations, logos, and more. To launch a calligraphy company, first create examples of your unique lettering styles and make them into digital fonts or image files. Build a website to display your designs, prices, and ordering process. Offer services like addressing envelopes, certificates, and awards. Market to potential clients like couples planning weddings, small businesses wanting logos or branding, and nonprofits hosting galas. A calligraphy business allows you to turn your artistic talent into a flexible work-from-home career.

How much you can make: $30-60k profit potential
How much does it cost to start: Minimal startup costs
How long does it take to build: 6-11 months to gain clients

Teach art classes

Those with talent in art forms like watercolor, acrylic, oil, texture or pastel painting can use their skills to instruct others. If you desire to launch your own art instruction business, you could rent a studio area, or partner with schools, community hubs and charitable groups. Teaching art allows you to share your artistic abilities and guide students in developing their own talents. Classes can cover painting, drawing, sculpting, photography and more. An art teacher encourages creativity, self-expression and appreciation for different forms of art in their students. Consider hosting workshops, camps or regular classes to spread your passion for art with your local community.

How much you can make: $30-60k profit potential
How much does it cost to start: Under $1k startup costs
How long does it take to build: 6-12 months to fill classes

Pottery class

If you enjoy sculpting clay into pottery, you could turn your hobby into a small business. Rent studio space and purchase necessary equipment like pottery wheels and kilns to open your own pottery studio. Offer group or private lessons in hand-building techniques, throwing pots on the wheel, glazing, and firing pieces in your kilns. Teach both children and adults the creativity and satisfaction of crafting clay into functional or decorative ceramics. Share your artistic talent while earning income. With hard work and dedication, your passion for pottery can become a rewarding entrepreneurial endeavor.

How much you can make: $20-50k profit potential
How much does it cost to start: $2-5k for kiln & supplies
How long does it take to build: 6-12 months to fill classes

Sell custom gift baskets

Offering custom gift baskets is a creative business idea for crafters and artists. You can fill baskets with your special handmade items like jewelry, candles, baked goods, bath products, cards, artwork, and more. Customers love getting unique gifts, so promote the fact that each basket contains one-of-a-kind pieces. Sourcing affordable baskets, tissue paper, cellophane and ribbons allows you to create lovely presentations without spending too much. Consider approaching local cafes, florists, and specialty shops to collaborate. For example, they might supply food items while you provide the container and artwork. Crafting personalized gift baskets enables selling your wares in an appealing way.

How much you can make: $20-50k profit potential
How much does it cost to start: Under $1k for supplies
How long does it take to build: 3-6 months to optimize

Designing greeting cards

Designing greeting cards is an enjoyable craft that can also make a nice little business. Supplies like paper, markers, and glue are affordable. You can be creative with your drawings and writing. Try making cards that will make the receiver smile or laugh. If your cards connect with people’s feelings, they will want to buy more. Greeting cards are simple gifts that let us express ourselves while brightening someone’s day. Crafting and selling them can be a rewarding hobby or side business.

How much you can make: $20-50k profit potential
How much does it cost to start: Under $1k startup costs
How long does it take to build: 6-12 months to establish

Tattoo artist

As tattoos keep gaining popularity, more people want high-quality, artistic tattoos they’ll have for life. This creates opportunities for skilled tattoo artists to start their own art business. Tattooing demands artistic talent and steady hands to create meaningful designs. By opening your own tattoo shop, you can apply your artistic talents while making a living. Run a clean, professional shop that makes customers feel comfortable to get the tattoos they want. If you have the art skills and passion for tattooing, start your own tattoo art business doing meaningful work for clientele who will display your art for years.

How much you can make: $30-100k profit potential
How much does it cost to start: $5-10k for equipment
How long does it take to build: 1-2 years to build reputation

Photographer

Photography is an art form that is valued now more than ever in our image-focused world. If you want to start a photography business, you have many possibilities. You could sell scenic or travel photos to magazines and tourism agencies. Or you could photograph important events for clients, like weddings, graduations, birthdays. Or product photography could be an option, taking pictures of merchandise for companies to use on websites and flyers. A photography business allows for creative freedom and appealing opportunities. With many options, from nature to products, events to real estate, this flexible business can suit various types of artists.

How much you can make: $40-250k profit potential
How much does it cost to start: $5-20k for equipment
How long does it take to build: 6-12 months to build portfolio

Sell your art online

For artists and creatives looking for new income streams, selling your art through online platforms represents an entrepreneurial business idea worth considering. By uploading your artwork to sites like Etsy, Saatchi Art, and Fine Art America, you can open your own virtual gallery showcasing pieces for an international audience. This allows you to retain independence over pricing and promotion, while tapping into the massive customer base of art collectors and decor lovers accessible online. With some research into marketing yourself effectively, paired with high-quality images of your best work, your artistic talents could translate into a lucrative side business or even full-time creative enterprise via these digital art marketplaces.

How much you can make: $20-100k profit potential
How much does it cost to start: Under $1k startup costs
How long does it take to build: 6-12 months to drive sales

Art therapy workshops

Art therapy workshops provide a creative outlet for self-expression and mental wellbeing. These workshops welcome all artistic backgrounds to explore painting, drawing, sculpting, and more in a relaxed, judgement-free environment. Guided by an experienced art therapist, participants can find stress relief, improved mood, and new insights through the artistic process. Consider offering art therapy workshops as private sessions, group classes, or as part of corporate wellness programs. With minimal overhead for art supplies, this can be an accessible business opportunity for aspiring therapists to make an impact sharing art’s therapeutic benefits, while establishing their practice.

How much you can make: $30-80k profit potential
How much does it cost to start: Minimal startup costs
How long does it take to build: 6-12 months to fill workshops

Artistic furniture design

Turning furniture into functional art is a creative business concept worth exploring. Handcrafting one-of-a-kind benches, tables, beds, and shelves that double as décor caters to those seeking stylish statement pieces. As an artistic furniture designer, you can blend materials like wood, metal, glass, and fabric into sculpturesque furnishings clients proudly display in their homes and offices. Establishing relationships with interior designers and architects provides a pipeline for commissions. Attracting high-end clients willing to pay premium prices for your artwork enables operating a potentially lucrative small business merging craftsmanship with imagination in a novel way.

How much you can make: $75-200k profit potential
How much does it cost to start: $10-20k for materials & tools
How long does it take to build: 1-2 years to build a reputation

Mobile art gallery

A mobile art gallery is a traveling exhibition space that brings art to people in their communities. The gallery would be housed in a customized van or trailer outfitted with proper lighting, climate control, and security to safely transport and display artworks. The goal is to increase access to art by curating compelling exhibitions and driving them to events, parks, schools, retirement communities and other locations. This innovative concept makes enjoying art more convenient and helps foster new connections between artists and audiences that may not otherwise interact with the arts. The mobile art gallery also raises awareness about art and creates unique educational experiences for people of all ages and backgrounds.

How much you can make: $50-150k profit potential
How much does it cost to start: $10-20k for vehicle & equipment
How long does it take to build: 6-12 months to curate shows

Conclusion

Art business ideas encompass a diverse range of opportunities for creative artists to explore if they want to make their artistic expression a successful business . From establishing an online art gallery or creating a personalized art commission service to offering art classes or workshops, the possibilities are vast – but it is important to conduct proper market research to ensure that there is a market need for your business idea.

Data analysis in retro-commissioning

By leveraging powerful analytical tools, such as PEAK platforms, facilities managers are now equipped to delve deep into historical data to pinpoint inefficiencies and optimize systems. Building analytics, driven by data, facilitates targeted interventions that move beyond mere surface-level fixes. This data-driven approach unlocks the path to long-term sustainability in building operations. By analyzing data collected from building systems and equipment, retro-commissioning services assist organizations in pinpointing energy-saving opportunities, leading to a more sustainable future. Through detailed examination of historical performance data, experts can identify patterns, anomalies, and areas of potential improvement. This information is then used to develop customized strategies to optimize building operations and reduce energy consumption.

Furthermore, the real power of data analysis in retro commissioning lies in its ability to reveal patterns and trends that might have been otherwise overlooked. Through advanced algorithms and machine learning techniques, PEAK platforms enable predictive modeling to anticipate potential issues before they escalate, ultimately saving time and resources in maintenance efforts. Embracing this proactive approach not only enhances operational efficiency but also fosters a culture of continuous improvement within facilities management teams.

Harnessing IoT sensors

Thanks to integrating IoT sensors into building systems, facility managers are gaining unprecedented visibility into the inner workings of their structures. These sensors collect real-time data on everything from energy consumption to temperature fluctuations, enabling more proactive and targeted maintenance strategies. With this wealth of information at their fingertips, decision-makers can identify inefficiencies, pinpoint areas for improvement, and ultimately optimize building performance to reduce costs and enhance sustainability.

However, the true power of harnessing IoT sensors lies in the ability to analyze this data in a holistic manner. By aggregating and interpreting information from multiple sources, facilities can gain a comprehensive understanding of their building’s operations. This deeper level of insight allows for predictive maintenance planning, early detection of issues, and continuous optimization based on evolving usage patterns. Ultimately, by leveraging IoT sensors for in-depth building insights, organizations can move beyond reactive approaches to truly transform their retro commissioning processes.

Optimizing HVAC systems

By adopting PEAK’s analytical capabilities, HVAC systems can be optimized to operate at peak efficiency, leading to significant energy savings and reduced operational costs for buildings. The platform’s data-driven approach allows for real-time monitoring of system performance, enabling proactive identification of inefficiencies and potential issues before they escalate. This proactive maintenance not only enhances the lifespan of HVAC equipment but also ensures optimal comfort levels for occupants.

These advanced analytics delve deep into the intricacies of HVAC operations, providing valuable insights that enable fine-tuning of system settings and parameters for maximum performance. By leveraging this granular level of analysis, building managers can make informed decisions regarding maintenance schedules, equipment upgrades, and overall system optimization strategies. Ultimately, integrating the said analytical capabilities with retro commissioning processes revolutionizes how buildings are managed and sets a new standard for sustainable and efficient operation in the modern built environment.

Energy consumption patterns

Examining electricity feeds provides a profound insight into energy consumption patterns, unveiling a complex web of behaviors that fuel our modern society. By delving deep into the data of when and how electricity is utilized, we can identify trends, peak usage times, and areas for optimization. Understanding these consumption patterns allows organizations to make informed decisions on energy management strategies, resource allocation, and sustainability initiatives.

Moreover, dissecting energy consumption at a granular level through electricity feeds reveals the nuances of different sectors and industries. For instance, the fluctuation in electricity demand between residential, commercial, and industrial sectors showcases unique trends influenced by varying factors such as working hours, production schedules, and lifestyle habits. This detailed analysis empowers decision-makers to tailor energy efficiency measures based on specific consumption patterns within each sector, driving targeted solutions for maximum impact.

Streamlining retro-commissioning workflows

PEAK software empowers users to leverage historical data and predictive analytics to make informed decisions that drive results. This forward-thinking approach not only enhances the accuracy of retro commissioning activities but also allows teams to uncover potential energy-saving opportunities that might have otherwise been overlooked.

Centralized data sharing

Centralized data sharing plays a crucial role in enhancing team collaboration within organizations, especially when it comes to complex projects such as retro commissioning. By having all project data stored in a centralized platform accessible by all team members, communication barriers are broken down and decision-making becomes more streamlined. This fosters a collaborative environment where everyone is on the same page, leading to increased efficiency and productivity.

Furthermore, centralized data sharing allows for real-time updates and tracking of progress, enabling teams to easily monitor key milestones and identify potential roadblocks. With instant access to relevant information, team members can work together seamlessly towards common goals without delays or confusion. In essence, the power of centralized data sharing lies in its ability to connect individuals across different functions and locations, ultimately driving successful outcomes for projects like retrofit commissioning.

Progress tracking and workflow management tools

Progress tracking and workflow management tools are essential components of modern retro commissioning projects. These tools enable seamless communication, collaboration, and real-time monitoring of project milestones. Utilizing advanced software solutions, such as PEAK platforms, facility managers can optimize efficiency, improve decision-making processes, and ensure timely completion of tasks. With customizable dashboards and automated notifications, teams can stay on track with key performance indicators and address any potential roadblocks promptly.

Moreover, progress tracking tools offer valuable insights into the overall project health by providing data-driven analytics and performance metrics. By leveraging historical data and trend analysis features, stakeholders can identify areas for improvement, allocate resources effectively, and drive continuous optimization in energy management strategies. The ability to visualize progress in real-time not only enhances transparency within the team but also fosters a proactive approach towards solving challenges before they escalate. 

Communication tools

Effective communication tools play a pivotal role in driving efficient retro commissioning projects. Collaborative services like CIM‘s provide real-time data sharing and analysis capabilities, facilitating seamless interaction between stakeholders. The ability to communicate key findings and project updates instantly enhances decision-making processes and ensures timely interventions to optimize building performance.

Moreover, the integration of interactive dashboards and visualization tools in communication platforms empowers project teams to identify trends and patterns easily. This visual representation of data not only simplifies complex information but also fosters cross-disciplinary understanding among team members. 

Conclusion

Embracing advanced communication tools is crucial for modern retro commissioning projects aiming for success. The efficiency gained through real-time collaboration, data visualization, and transparent reporting creates a streamlined process that maximizes energy savings and improves building performance effectively. As technology continues to evolve, leveraging these tools will be essential in transforming retro commissioning practices into proactive, sustainable solutions for future buildings.

Define your goals

The first thing you need to do is have clearly defined goals for every aspect of your business. Whether it be marketing, packaging supplies, hiring goals, or anything in between, a list of goals will help you see where you should and shouldn’t spend money. 

One mistake many start-ups make is investing in areas that don’t support their overall goals, which only leads to wasted money. 

Money Management

It doesn’t matter how big or small your start-up is or what industry you are in; money management is far more important than you realize. Keeping track of your expenses, knowing how much money is coming in, making a budget, etc, are all incredibly important aspects of your business. 

If you can afford it, enlist the help of a professional, such as an accountant or financial advisor. They become more and more useful as your business grows, but using their expertise early on will get you on the right track sooner rather than later. 

Lease or rent

Whether it be a workspace or equipment, leasing or renting can be your best friend. An office or warehouse space or an expensive and niche piece of equipment is a massive financial undertaking when you don’t have a large and consistent income stream yet. 

When it comes to equipment or vehicles, leasing or renting also allows you to get them out of your hands and off your books quicker in the event of needing to downsize or save money. 

Hire when needed

This is a simple tip, but don’t expand your team until you absolutely have to. While getting a marketing manager, for example, can make life easier for you if you are able to do marketing by yourself or with the team you have; rather, hold off on the new hire until you are at the stage when you can take them on with no financial worries. 

Build relationships with suppliers

A great strategy for saving a lot of money in the long run is building relationships with your suppliers. A good relationship will often lead to bartering opportunities, allowing you to secure goods in bulk at a discounted price, and in return, you don’t use any other supplier or something similar.

Always reevaluate your suppliers

While having strong supplier relationships is a must, don’t rest on your laurels. You should always reanalyze your costs and contracts to ensure you are still getting the best possible deals and rates. 

There are many suppliers who will import their goods that eventually make their way to you, and a shortage or price increase further up the line can lead to a much more significant increase for you. 

Smart marketing

Marketing can eat up a lot of your monthly budget, and in this day and age, there is no need to spend an arm and a leg on it. With social media, YouTube, and online ads being exceptionally affordable, there is no need to blow your profits on marketing. 

For example, something like influencer marketing may be a large initial investment, you will be reaching a vast and varied audience almost overnight. 

Don’t over-commit

While you are still a start-up, don’t over-commit or over-buy supplies, packaging, or whatever it may be simply because you are seeing an upshot in popularity or sales. While it is always important to be able to provide your product or service in a timely manner, you don’t know how long the good times are going to last. 

While you still need to purchase more than you need, keep it simple and rather over-invest when you know you will be getting orders that will use up everything. 

Become data-focused

Data is one your biggest weapons in business, whether you are in a start-up or managing a global conglomerate. Data is also an essential tool when it comes to saving money, as it is a reflection of where you are spending money, where you need to save, and where you can invest more. 

Data can help you see your sales demographics, help you see which products you need to invest more in and where cut back, you see where you are wasting money on advertising, and the list goes on. 

Analyze your supply chain

Finally, you should be constantly analyzing your supply chain and finding ways to optimize it. This can range from something simple like overspending on a particular type of packaging when there is a more affordable option to improving the ways you transport your goods. 

The smallest changes can make a massive difference to your bottom line. Robert Crandall, a former CEO of American Airlines, famously removed one olive from each passenger salad; the passengers didn’t notice, and the company was able to save $40,000 a year. Small supply changes like this can have a much larger impact than you may think without sacrificing quality or customer satisfaction. 

Feedback Surveys

Feedback surveys are a direct line of communication with your customers. They offer valuable insights into customer satisfaction, product performance, and areas needing improvement. Questions like “How can we change this product to better suit your needs?” or, “What problem are you trying to solve by purchasing this product/service?”. 

Notice how these questions are aimed at alleviating the information barrier inherent in the perspective of the business owner. You cannot know what these customers want to see in your product without asking them. As such, to better solve their problems, and produce value, you need to ask these questions.

To summarize, feedback surveys are great for discovering which direction you should pivot your business in.

Customer Reviews

Customer reviews are a goldmine of information. They not only reflect customer perceptions about your product or service but also influence the buying decisions of potential customers. Because of this, many business owners are nervous about publicly listing these reviews, especially the inevitable bad reviews. 

So, if a customer leaves a good review, this is a data point to support doubling down on whatever the customer liked. However, if the customer leaves a bad review, this is a data point to support pivoting away from whatever that customer didn’t like. Now, there is a double opportunity here, you can firstly implement this pivot, leading to a better business, and secondly, you can also announce this pivot, leading to a better relationship with your customers who feel heard. 

Behavioral Analytics

Behavioral analytics delve deeper into the customer journey, tracking interactions across various touchpoints. This data provides very real insight that might be difficult for customers to articulate in a review or responding to a feedback question. Tracking data like, where in the sales pipeline do we lose most customers, or which web page do customers spend the most time on. 

Knowing that, for example, potential customers click on ads but spend little time on the website might indicate that you need to update your website. It also means that the advertising strategy is working. Moreover, knowing that customers spend most of their time on one web page, might prompt you to change the landing page to that one.

A/B Testing

Testing a business model hypothesis is difficult. This is because tests only really yield a rejection or confirmation, but don’t tell you which direction to go in if the hypothesis fails. This is where A/B testing comes in. Say you have a product, but don’t know what price to sell this product at. A/B testing means you take one group of potential customers, for example, the market on the east side of town, and you set the price at a lower option. Then you take the same product to the market on the west side of town and set the price at the higher option. If you generate more profit or revenue, or whatever you’re optimizing for, in the western market, then you have good reason to set the price higher.

Social Media Awareness

Social media platforms are a treasure trove of customer insights. They provide real-time data on customer opinions, trends, and feedback. You can effectively test advertisement campaigns and understand customer sentiment. As a platform to present your business, you can not only win over new customers, by posting things they find valuable, but you can also learn what your customers find valuable.

Social media also has a wealth of demographic information that you can use to better understand your customers and to understand your potential customers.

Brand Recognition Testing

Brand recognition testing measures how well customers recognize and recall your brand. This form of testing can provide insights into the effectiveness of your branding and marketing efforts. Understanding how your brand is perceived in the market can help you refine your branding strategy, ensuring that it resonates with your target audience and stands out in a crowded marketplace.

These six strategies to gather customer insight ultimately empower business owners to iterate and refine their business model hypothesis. By knowing what to double down on, and what to pivot away from, owners are better able to provide real value to their customers, and thus, boost their business.