October 11, 2017
It can be frustrating not knowing what’s going wrong in your business. You can see business is slowing down or you’re not hitting your quarterly goals, but can’t figure out why. That means it’s time to consult the data and analytics. Advanced analytics gives you more insight than ever, but how do you use it to improve your performance? Consider approaching it from these mindsets to see the best results.
Find Your Pain Points
Knowing where you’re struggling is the best way to know how you can do things better. It’s a common sense concept that we apply elsewhere in life that easily translates to your business as well. If you were playing on a basketball team and you were notorious for missing free throws, you’d be remiss to not spend time regularly practicing making these shots. What’s great about analytics is that it makes your weak points tangible. It can be humbling, but it’s also a key aspect of growth. Internally, analytics can give insight into opportunity costs and better manage your expenses. If you’re dumping money into certain departments and aren’t yielding results, the analytics will tell you. While it might hurt seeing where you’re falling short, it’s really just the first step toward bettering your business.
See What’s Working
Inversely, analytics also show you where you’re doing well. Sometimes this might be obvious, other times not. When you have testimonials from customers coming in saying they love your customer service, you can check that off as a strength right then and there. Advanced analytics will dig deeper into what your is resonating with your customers, whether it’s data from your website, an app, or other software. Not just that, but it can reveal opportunities that you might otherwise miss. If you have people landing on your site for a certain service page that you haven’t pushed in your messaging, suddenly you’re aware of a whole audience that can be converted to customers.
Know Your Competition Better
A lot of analytics is about knowing yourself and your business, but it looks outward as well. Business is competitive. Observing your competition is one of the pillars of success, but analytics takes it a step further. By tracking the data of your competitors and stacking it up against your own, you have more insight than ever before. Just like how you can see your strengths and weaknesses, you can see there’s and make business decisions based off of that. It’s about staying competitive and finding needs that aren’t being met in the industry.
Attunix’s Advanced Analytics team can help your company capture and utilize vital information for your products and services. Reach out to us today and we’ll walk you through how analytics can improve your performance.