Use Data to Power Your Company Forward

Alyssa Strickland of millennial-parents.com

Every organization that does anything on the web generates loads of data. Data analytics is how a business unlocks the valuable insights that data contains. If you want your team to create more personalized marketing campaigns, operate more efficiently, retain more customers, or grow in any number of other ways, learning how to implement data analytics is crucial.

Accomplishing that comes with challenges and requires you to know what you’re getting into beforehand. These tips can help you navigate the process and position your company for sustained growth!

Establish Expectations

Some companies set up an analytics program and become discouraged when they don’t see results in the following days, weeks, or months. Most of the time, this happens because leaders fail to research and establish realistic expectations at the outset.

Understand that business analytics will be a new process for your team that requires planning and maintenance. It also takes time, money, and resources.

Take the time to determine how much you are willing to invest to get your analytics program going. Then, establish a broad timeline for researching and goal-setting, and identify each team member's role in the process.

Remember that successfully implementing data analytics can yield exponential value in the long run. You just have to get off to a strong start.

Change Your Processes

One of the most impactful ways companies use data analytics is by changing their business processes for smoother operations. For example, adopting business process management (BPM) will automate menial tasks and optimize your processes and workflows. It does this by analyzing interactions among systems, data, and individuals. You might be surprised how much more efficiently your team works when streamlining tasks and operations.

Up Your Marketing Efforts

Data analytics can provide valuable insights into market trends and consumer behavior. It can even help you learn about and connect with your customers on a deeper level. One of your first goals should be to double down on your marketing efforts and use the data available to inform your decisions.

Connect With Your Customers

As discussed, your team can use data analytics to connect with customers. More specifically, you can use insights to attract new customers to your business and retain the ones you already have by giving them access to the information they need.

Look for top-notch customer relationship management (CRM) software that will help you maximize your interactions with customers and ultimately generate more leads for the company. Many CRM products are on the market, so you’ll need to find something that meets your organization's specific needs.

Use Data Visualization

Unless you’re a data analyst, massive raw data sets probably won’t mean a lot to you. For data collection and analysis to prove valuable for your business, your team must be able to interpret insights and administer them in your strategizing and decision-making processes.

Research data visualization tools convert raw data sets into graphs, charts, infographics, and other graphics. These tools will help your team members visualize and understand the key findings of your analyses and put them into action.

Cultivate a Data-Driven Culture

When your team embarks on your data analytics journey, it will manifest a shift from making business decisions “from your gut“ to making informed decisions. You must embrace this mindset and bake it into your company culture. Work hard to encourage your leaders and employees to buy into the changes, and provide your employees access to as much data as possible without compromising cybersecurity.

Implementing data analytics can boost your business on so many levels. As with any major changes, however, it will require you and your team to remain agile and commit to changing your mindset about decision-making. Remember the tips above as you set out on your new journey, and constantly study the data industry to inform your decisions and stay a step ahead of the competition.

Want to learn more about using your data? Check out this recent article "Mastering Metrics Skillfully for a Strong Business."

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