The Importance of Data in Motorsports

Switching Gears From Race Cars to Small Business Marketing

In the motorsports industry, the term “data” carries heavy weight. Every racer, crew member, and tuner can tell you the importance of data and how to utilize it to improve performance. Analyzing a race car’s performance after a run provides insights about changes to make for future runs. What many may not realize is that this same thought process applies to the business of racing as well. Data is of the utmost importance in small business marketing and can help motorsports companies develop and maintain a successful marketing strategy.

Jaclyn Tanenbaum, Marketing Research Expert & Award-Winning Marketing Faculty at Florida International University explains the following: “Generally speaking, smaller businesses are typically at a disadvantage when they are competing with larger firms. Larger firms usually come with bigger budgets and bigger promotions or discounts but lack the personal touch many customers today seek. If smaller businesses use data to send personaliz