The Next 3 Things You Should Immediately Do with Your Data Analytics Strategy

Big data seems to be the key to everything these days, and companies that are better-equipped to collect and process vast amounts of data for analysis undoubtedly have the competitive edge. If you’re interested in making your company’s data analytics strategy better and stronger than ever, then the three things listed below should be your top and most immediate priorities.

#1 – Make it Actionable

Staring at a report filled with various numbers can help you understand what’s happening in your business, but the only way to change the numbers you see on that paper – and your company’s revenue – is to act, and to act immediately. Utilizing segmentation is the best way to come up with actionable insights that can truly help your business grow, and it involves putting visitors or leads into categories based on the things they have in common.

Once you can see the various segments in your audience and the differences in how they interact with your company, its website, and its social media pages, it becomes much simpler to come up with a plan of attack to engage with the segments that seem to have lower conversion rates. Furthermore, it also shows which segments are most likely to buy, giving you a good idea of where you should focus much of your campaigning.

#2 – Don’t Immediately Discount Data Integration

If you’re looking to improve your business decisions by analyzing the data available to you, it’s important that you get the biggest possible picture. After all, your goal should be to get to know your customers and leads, and the more data you have available to you, the easier that task becomes. If you integrate your traditional database with a big data solution, then connect all your sources, you’ll probably discover incredible insights that can help you understand your customers. In return, you can create better and more effective marketing campaigns.

#3 – Set Goals

Setting goals isn’t as simple as coming up with a KPI that you want to meet. Rather, it’s about asking yourself where you want your company to be in the next year, the next five years, or even the next 20 years. When you can analyze your data to the fullest, it can help you put together a complete roadmap to get you from Point A (where you are now) to Point B (where you want to go) in a specific timeframe.

This process will involve several different steps, and one of the most important involves brainstorming recommendations that can help move your business forward. Then, look at the list and the data that is available to you and start determining the feasibility of each of your ideas. Don’t forget to consider things like budgeting, resource availability and participation, and even whether you might need to hire another company to help you complete the task.

Your data analytics strategy is one of the most important facets of your business. With high-quality data and the ability to break that data down, you can read your company’s progress like a book and use that information to your advantage. By making the changes above immediately, you’ll find that your data can provide you with more insight than you ever thought possible.

Why We Love Data Analytics (and You Should, Too!)

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Data, data, data. It’s everywhere you look. If you’re doing it right, it may even be running through your head at night just before you doze off to sleep. Data is what makes the world go around, and it’s what will ultimately make your business succeed. Here are the reasons why we love data analytics so very much and we think you should, too. 

It Has All the Answers

They say no one has all the answers, and while that may be true to an extent, data analytics has a lot of the answers if you’re willing to go digging for them. Why isn’t your website generating enough traffic? Why is your PPC campaign struggling? Why aren’t people buying your software like you thought they were? If you really want the answers, you can find them – but you’ll need to dig in and analyze the data to do it. 

It’s Great for Indecisive People

If you’re trying to launch a successful business or grow an existing business, guesswork is not an option. Relying on instinct or intuition is definitely not an option. You need to know facts, and you need to know them right now. That’s the thing about data analytics – no matter how indecisive you might be, it can help you make the best possible choices. Data never lies, either. The numbers are right there. All you have to do is analyze them and be willing to adjust things in order to push them in the right direction. 

You Can Predict Market Trends

Imagine if there was a way for you to predict the way the market for your industry was going to shift in a year, five years, or ten years from now. It would surely make a difference in how you advertise your product, and it might even convince you to change your product to suit the market’s overall needs, right? This isn’t a fairy tale, and you don’t need to hire a spooky fortune teller to do it. All you need is the data and the tools to analyze the data. Everything is a pattern if you’re willing to look for it, and you can use that to your advantage. 

It Can Save You Money

Imagine pouring your entire marketing budget into a handful of campaigns and having no idea which of them was successful and where you should focus your later efforts. Now imagine pouring thousands of dollars into a handful of campaigns and carefully collecting and analyzing data along the way. You can learn which ones worked best and why. You can learn where to put your money in the future for better results. The better you get at analyzing this sort of data, the less you can spend, and the better your results will be. 

Data analytics may seem boring, but in reality, for a business owner, it can be incredibly interesting and helpful to say the least. You can get answers to questions you didn’t even know you had, make tough decisions, predict market trends, and save money – all by looking carefully at the information that’s been in front of you all along. 

Undeniable Proof that You Need Data Analytics for Business Growth

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Over the several years, advances in technology have provided business owners with numerous tools for growth. Technology used to collect and analyze data is more than just helpful; in today’s competitive climate, it’s necessary. Experts at King Abdul Aziz University in Saudi Arabia found that extensive consumer data can help you make accurate predictions about future market trends – but only when you have the tools you need to analyze that data properly.

Better Leads

The ability to analyze vast amounts of data is necessary for generating high-quality leads. Once upon a time, sales-based businesses relied on now archaic measures like cold calling or knocking on doors to find people who may be interested in their products. Today, with the availability of vast amounts of consumer data and the tools required for meticulous analysis, it’s possible to generate better, higher quality leads with far less work involved. With better leads come more sales, and with more sales comes growth. 


Despite your company’s industry, today’s markets are more dynamic than they have ever been in the past. A single viral social media post can change the entire scope of your industry overnight, and as companies like Blockbuster can attest, the launch of industry-disrupting products and services can decimate your company seemingly overnight. It is clear that the ability to predict such changes in the market is more valuable than gold, and in order to do this, you must be able to collect and analyze vast amounts of data. When you can anticipate or predict these changes, you can rise to meet them rather than being completely sidelined. 

Lower Cost and Better Efficiency

The ability to reduce overhead costs while improving efficiency at the same time is tricky. It may seem as if there is no good way to cut costs without sacrificing a critical part of your business. There are operational costs, labor costs, and costs associated with every single stop along the supply chain, and in order for your business to grow, you must always be on the lookout for ways to save money without interrupting the operations, the labor, or the supply chain. Data is crucial here, as well. With careful analysis, you can see where you’re getting the biggest return on your investment in areas like manufacturing, marketing, and even your communication technology. It becomes much easier to trim the fat, so to speak. 

A Competitive Edge

Finally, it’s also important to collect and analyze data if you want to maintain a competitive edge. How are your competitors faring? What works for them, and what doesn’t work for them? How do people feel about your product or service compared to your competitors’? Who are your biggest competitors and why? The answers to these questions and others are in the data. It’s up to you to analyze it so you can better understand what your audience expects, then do what you can to exceed their expectations. 

The ability to generate better leads from the start, make accurate predictions about market trends, reduce the costs associated with running your business (and improve efficiency at the same time), and maintain a competitive edge all the while will ultimately facilitate your company’s growth and success. As you can see, data analytics is not just helpful when it comes to growth and improvement. It’s critical.  

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