Should You Worry About Analytics?
Never before have businesses had access to such thoughtful and rich piles of data that can help you get a clear picture of how your business is performing and what you can do to take it to new heights.
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Why Worry About Analytics?
In order to maximize profits and grow into the best version of your business, you need to make calculated, timely decisions.
Never before have businesses had access to such thoughtful and rich piles of data that can help you get a clear picture of how your business is performing and what you can do to take it to new heights. With the correct approach, you can take a raw source of data and turn it into actionable insights that will almost guarantee success. When push comes to shove, the numbers never lie.
Analytics is a process. That is why we have set up a progressive system that takes all of your data and transforms it into an actionable plan.
Let’s Talk About Data
In the past year, data has surpassed oil in overall value. It is the new driver of success for forward-thinking companies who understand the potential for success when you apply a data-driven approach to growth. The digital world is growing every day, and with it comes a huge stockpile of information on consumer activity, buying habits, and many other conditions that can help you take historical data and apply prescriptive and descriptive analysis to reach calculated decisions about the future of your company.
With the correct approach, you will never need to do guesswork again when it comes to making big decisions.
The first step in this process is taking data points from the events leading up to the current state of your business. This consists of a basic audit of key components of your business structure and identity and is also known as descriptive analytics.
These data points help us describe and outline the events leading up to the current state of your business. We then dive into the next step in the process – understanding what effect these past events have had on your overall success, customer loyalty, and sales. After this, we can diagnose any significant factors that may have contributed negatively to the success of your business using tools such as Google Analytics or social media analytics platforms.
Now that we have a grip on the history of your business and some of the defining factors of your success, we can now begin to make some knowledgeable predictions about what happens if you continue down the same path.
As Newton’s first law tells us, an object in motion will remain in motion – unless of course, an outside force provides a push. With the initial pool of data and insights about the history of your business at our fingertips, we can start to predict and make calculated estimations on actions other companies may take. In addition, we can also look at certain actions and characteristics of your business that your customers find more appealing than others and capitalize off of them.
Once the descriptive and predictive analytics have been scrutinized and we have an idea of the strong points of your business and what the best path forward may look like, we then dive into the final aspect – action!
Data Leads To Action
We like to take a laser-focused and research-centered approach to all of our clients. The scientific approach allows us to be measured and effective by taking raw data, compiling it, and turning it into an actionable plan that will result in positive changes!
This is where we begin to prescribe actions based off of what the numbers are telling us. This step varies for every client depending on many different factors.
Some of the steps we normally prescribe can include:
- Fresh content routine
- Presentation and image renovation
- Email campaigns with carefully crafted voice and mission
- Removal of unnecessary, outdated, or ineffective sharing mediums
- Targeted social media campaigns
The latest research tells us that about 95% of businesses could benefit from better managing their unstructured data (Forbes, 2019). Even just simply attaching Google Analytics to your website can help you take the first steps towards successful predictive analytics.
We understand how deep and daunting big data can be, and that is why we want you to focus on running your business the best you can while you let us handle the analytics in the back end. Bolt Goodly is here to provide you with rich, actionable insights that you can put to use for years to come!
If you would like to take the first steps into thinking deeper about your business just ask yourself these questions and you will already be on your way to a more productive mindset!
- How are people getting to my website?
- What are the percentages of organic, direct, social, etc. referrals?
- Why are people leaving the website?
- From which page are people are leaving the website?
- What channel is generating the most conversions?
- Where are users located?
Get in touch with us today and start taking leaps over the competition with a powerful data-driven analytics program powered by Bolt Goodly.