Our very own selves from so little as a decade ago could not even comprehend the amount of information we are exposed to on a daily basis. Everything from planners to weather information is nowadays absorbed through technology. The amount of data that circulates our daily lives can turn out overwhelming; however, if used intelligently, it can bring upon a world of help when running a business.
How Data Helps
Owing to the integration of technology into basically everything, a lot of figures and facts are being generated by marketing and sales efforts. This whopping amount of data can be used to improve your business, if directed properly. This is best achieved by putting systems in place in order to seamlessly and effectively gather and process this data, to be used later in improving business decision making – numbers never lie.
E-mail marketing is a good example of data analysis efficiency and an efficient way to reach out to new customers and maintain relationships with the existing ones. When it comes to E-newsletters, a business can use open and click-through rate data to get the feel of the mood of the audience.
However, coming up with this data is not easy without using a proper service.
Luckily, there are a lot of e-mail marketing services on the Internet which specialize in simplifying the process of creation and scheduling regular e-newsletters. Using services like these is relatively easy – by inserting content into design templates, the user is allowed to deliver the content to a distribution list, based on permission.
These services also provide the following real-time statistics:
- The plain number of people who opened the e-mail
- The number of recipients who clicked on one or more links in the e-newsletter
- The number of web pages viewed on your website, linked to the e-newsletter
These statistics can give you a rough look at which parts of an e-newsletter need improving and which have turned out successful.
Sales professions have been using a ton of numbers since, well, the dawn of sales, truly ‘getting the gist’ of marketing conditions. What this means is understanding what sales numbers truly mean, to boost a business – using the data intelligently.
Data can be used particularly efficiently in niche businesses pitching products that are expensive, but appeal to a particular type of customers. To put it in layman’s terms – a piano company isn’t likely to benefit from building guitars.
Of course, the oversimplified example above should only serve to give you a rough idea of what using sales data efficiently entails.
Business intelligence is the most present form of data analysis in the world of business, especially in those that specialize in retail. The processed data gives those in charge of a retail company an in-detail overview of their product sales. This is why BI software is an integral part of almost every modern retail business – the information provided by this type of software is unparalleled by any other form of data gathering.
Perhaps the best example of using data analysis to run a business intelligently, web site tracking is basically a traffic report for a website. The information gathered gives insight into statistics such as which pages get the most of the traffic and what search terms are most frequently used.
This can help in efficiently reorganizing any website.
Data analysis is a crucial part of running most business today and the best way to tackle huge amounts of data flowing through our business lives. The science of statistics is vital in running any company, because it gives the exact information and an overview of things that need to be changed in order for a business to expand.