Data, insights and analytics. How can it help your organisation?
James Ciuffetelli MAICD
CEO | Founder | Director | Consultant | Transformation | Leadership | Private Equity | P&L Optimisation | Value Creation | Revenue Optimisation | Operating Models | Business Podcaster
Data is a key part of understanding how customers interact with your brand. Analytics are about understanding what customers are doing with your brand and how you can improve and make your products and services even better.
Insight is about figuring out the right questions to ask your customers to help you understand their needs and wants and how to meet them.
Data, insights, and analytics are all terms used in marketing to describe the process of gathering and analysing data. This data can be used to understand the audience you’re trying to reach, and it can also be used to create a marketing plan for your business.
Data insights are important when it comes to analysing the data you collect from the use of your products and services.
By using data insights you can see what people like and don’t like about your products and services, and you can see what emotions they’re feeling at these times.
How do they differ?
These three are all connected, but they’re not the same thing. Data is a great way to measure what’s working and what’s not working within your business. Analytics is the process of gathering and analysing data and insights are the end result of the analytics process.
What makes data insights actionable?
Data insights are an important part of a data driven marketing strategy. However, it’s important to know why you’re using insights to make sure you’re not wasting your time.
The primary goal of any data is to make an actionable decision. If a data insight is not actionable, then you’re just wasting your time by reading it. If you’re analysing data and you don’t have a clear idea of what to do next, then it’s pretty much worthless.
When you’re trying to make an actionable insight for your client, you need to think about why they want it and what they can do with it. If you can’t tell them how to use it, it won’t be as valuable.
------------------
Our mission is to understand your business (through data), build your strategies and guide you step-by-step in implementing these strategies.
If you want to learn more on how you can leverage your organisation’s data to help broaden your audience reach and boost your company’s growth, contact us [email protected]