Building your online presence using analytics and insights can help you determine where your business is going and what changes to make to improve your outcomes. More services are moving online everyday and whether you also have a brick and mortar location or perform all your transactions online, data analysis can help you hone your approach to client interaction.
One of the first steps in getting the right product or service in front of the people who are going to purchase it is knowing your audience. People are more connected to technology today than ever before and this means there is a lot of data on behaviors. Data analysis can tell you a lot about your clients and help you pinpoint where your advertising dollars are best spent or when and where your products will give you the most gain.
Internet users around the globe generate massive amounts of data everyday. It can be easy to get lost in all that information if you aren't sure how to narrow down your scope into something that is usable. Enterra helps clients break down this data and provides analytics and insights to help clients understand what their users are doing.
Collecting information is the easy part. Deriving meaning and determining how to use that data is where it gets tricky. "Big data" analysis can be applied to almost any field that uses the internet directly, or even indirectly, as part of their business model. For example, research on the taste preferences in a certain region can help a grocery chain determine what products are likely to sell well in specific locations and adjust inventory decisions in a more accurate way. Data analysis is progressing in such a way that clients can be profiled on a number of preferences and then targeted with other similar suggestions with proven Digital Path to Purchase (DP2P) analysis.
As more users and business utilize the internet on a daily basis, it is becoming easier for companies and organizations to understand what is going on with their product or service every step of the way. This can lead to more streamlined approaches in an organizations logistics or a better understanding of outcomes in fields such as healthcare.
"Big Data" analysis can be effective in fields ranging from retail to medical research to government compliance. The days of in person interactions are evolving and it behooves industry leaders to adopt techniques that will help them adapt to this new market in more efficient ways. Understanding behaviors provides great clues to where markets are going and what a company can do to fill a niche.
Edward Tufte once said, "Too often diagrams rely solely on one type of data or stay at one level of analysis". Good analytics will delve deeper and provider a more vibrant insight into the data, and that is the kind of service you need in order to generate better outcomes from your clients and business.
Michel Smith is the author of this article. For further detail about Analytics and Insights please visit the website.