Data Analytics: More Than Numbers in a Spreadsheet
Businesses of all shapes and sizes rely on some sort of data and analysis to make their decisions. Where does the data come from? Is the data reliable? Who needs the data? What are we going to do with the data? These are just a few questions you should be able to answer about your current data analytics strategy. If you can’t answer these foundational questions, then it’s time to do some digging. Data analytics provide numbers, but what you do with those numbers is how you turn data into analytics.
Don’t Just Compile. Analyze.
Numbers are cool. No, they really are. They can tell you so much about a business. They can give you a solid number on employee utilization rate, offer insight into the economics of a customer, how many leads your marketing team is generating and how often their leads are being closed by your sales team.
When it comes to analysis, though, you should have all the data you need. For more on that, check out this post about KPIs. However, data can be overwhelming. It can be so overwhelming that those who need to know certain information will just glance at a report and throw it away, because they just see a bunch of numbers and graphs that don’t apply to them.
A solid data analytics strategy compiles what people need to know; delivers that information when they need to know it, and allows the right people to analyze the data to guide their decision-making. If you’re just gathering information with no strategy as to why you’re gathering that information, then that makes the actual analysis part awfully difficult.
Keep it simple. More importantly, keep it relevant.
Act on Analysis
If you’re going to put a ton of resources into a data analytics strategy, then you better make sure it doesn’t go to waste. Whether you’re spending money on an outside firm like Aspirant, or you’ve done it in-house, you’ve still put a bunch of time, money and effort into the project. In fact, the reason you decided to implement a data analytics strategy is because you probably felt your data was a mess, and you couldn’t access the information you needed to make informed decisions.
All in all, data analytics is as powerful, or as dormant, as you make it. With today’s software, you can get data on pretty much anything you want. It’s what you do with that data that is important. Business is as competitive as ever, and a bulletproof data analytics strategy is one of the best competitive advantages a company can have.
Partner with the Experts at Aspirant
At Aspirant, we are experts in analytics and information management. We have helped countless numbers of companies develop a strategy to have access to all of the analytics and information they need, when they need it. Analytics should be the most powerful and insightful tool for your company. If this is a pain point for you or your company, give us a call. We’d love to explore how we can help.
Phil is Aspirant's Technology Director with a focus on providing enterprise-grade solutions. His 30 years of experience have given him the opportunity to work across many markets, industries, and applications. Phil is leading a team of skilled web and mobile developers building strategic solutions for our customers.