Data Analysis

WHAT DATA CAN DO FOR YOU

It’s taken for granted that effective use of data analytics will help you make more informed business decisions. But what specifically can data do for you?

• Find hidden profits. See the products, services, and/or markets that you’ve been neglecting.
• Explore new markets. Find the people and places just waiting to be introduced to your products and services.
• Get a larger return on investment. Put your money where it works the hardest and gets you closer to your goals and the growth you desire.
• Analyze revenue streams. Know which services and products are growing, and which have stagnated. Learn exactly who and where your profits are coming from—and when.
• More effective marketing. Understand which efforts are gaining traction and quantifiable results. Know who sees your ads, where and when they see them, how they interact with them, and what actions they take afterwards.
• Increase customer engagement. Find out how people interact with your customer-facing offerings.
• Increase customer satisfaction. Analyze returns and reports of dissatisfaction. Stay ahead of changing trends and avoid outdated models and modes.
• Quality control. See exactly how customer service and manufacturing is working—and where it is not. Avoid breakdowns and bottlenecks.
• More effective planning. Quarterly, yearly; from budgets to personnel, real estate to hardware and software—plan where you are going based on hard, objective data that outlines where you have been.
• Plan new services and offerings. Know what your customers want before they do. Roll out new products in an effective, efficient manner.
• Enhance current services and products. Meet customer demand; ensure that your offerings stay on top of market trends and cycles.
• Track progress. Know exactly where you stand in relation to the goals you’ve set for the company as a whole; for divisions, teams, and brands; and for individual employees.
• More focused meetings. Use data to hone in on exactly what needs to be done, and when it needs to be completed.
• Increase sales productivity. Know which products to focus on in which markets.
• Boost stakeholder satisfaction. Use data, statistics, and charts to show exactly what you’ve done, how you did it, and where you are headed next.

Save time, money, and resources. The more you understand how each of those things is spent, saved, and made by your organization, the more effective you can be in your usage of all three, which will inevitable lead back around to an increase of each.