The goal for a non-profit is to fund causes through donations. To satisfy this goal the non-profit must reduce overhead costs, attract and retain donors, and increase input cash flow. Big Data can help the non-profit do all of these things.
Big Data helps with administration costs. Donors are very sensitive to overhead costs. Donors want almost all the money they donate to go toward the cause. The higher the overhead costs the lower the amount the donor contributes, the less often they contribute, and the less likely they’ll refer the non-profit to other prospect donors. To prevent these issues, Big Data reduces overhead costs by capturing and automating the knowledge of key talent. This allows the non-profit to do more with automation and predictive models and less with manual efforts and man power. And with lower overhead donors feel more comfortable donating.
Big Data further helps with donors. Attracting and retaining donors as life-long contributors is important to the non-profit’s establishment and growth. There are certain things that are more effective and less expensive to attract and retain a donor. Through predictive and historic analyses Big Data identifies what the right things are and the right way to do them.
Big Data helps increase input cash flow. The more donors and the better investments the non-profit has the more input cash flow it has for its causes. Through predictive analysis Big Data identifies the right donors, right funds, and the right options for the non-profit to maximize its input cash flow.
Overall, Big Data helps non-profits. Big Data strategically helps non-profits satisfy their goals by leveraging automation, predictive models, and analyses. Big Data helps non-profits by doing more with their existing workforce and by making donors feel more comfortable to contribute and contribute more frequently. Because of these things each non-profit should consider Big Data.
Reach out to a “strategic Big Data” expert for your next steps for using Big Data.