Leveraging Data Analytics to Scale Your Digital Strategy

If you’ve never heard of data analytics, then we can only assume that you have been living under a rock for the last few years. This is especially the case if you own a medium-large business, as data analytics are going to be essential to helping you scale your digital strategy, and move forward with your business.

On the other hand, if you have heard of this concept and thus far you have simply decided that you cannot be bothered to use them correctly, then you’re missing out on a massive trick and you’ve got to fix this asap.

No matter what your current situation, leveraging data analytics is the answer to helping you scale your business strategy in your medium-large business operation, and that’s what we’ve written this article for. Contained down below, you will find a range of information about data analytics, what it is, how it can help, and why you should make sure that you’re using it to the very best of your ability. Have we got your interest? Read on if we do.

What Is Data Analytics?

Data analytics is a helpful concept that every business should be using. It’s the process of turning raw data into actionable insights, ensuring that a business leader can look at the information, and make a decision that is going to benefit the business overall.

These are most commonly used for marketing purposes, with businesses using these insights to further their marketing efforts and enhance their digital strategy overall. The great thing about this is that there are so many tools and methods of making this happen, and you just have to find the one that is going to work the best for you.

In short then, data analytics is the best way to get the information that you need for your digital strategy in an easy to understand manner.

Why Is It Relevant To Digital Strategy?

But, why are these insights relevant to digital strategy? Well, because the information that is contained within these insights is mostly to do with your various marketing campaigns. They will track the success of the failure of the strategies that you are using right now, showing you in no uncertain terms where you are failing. 

From here you can make the business decisions, some of which are going to be hard ones that you do not want to make, and push your digital strategy in the right direction. Once you have done this, you can continue to monitor the success or failure of your overall digital strategy, adapt, amend, and generally pluck to perfection.

Benefits Of Using Data To Make Informed Decisions

There are a lot of ways to make a decision, and we’re not disputing that. But, if you want to see success in your business, then using data to make informed decisions is your best bet. Let’s take a quick look at some of the reasons why.

Easy To Evaluate

The data that you are provided with from data analytics is easy to read, and it’s easy to evaluate. You don’t have to go through all of the raw data, looking for what you need, and trying to muddle your way into understanding what you are seeing. Instead, you will know immediately what you’re reading, and you can then take your time evaluating the information, and making the best business decision possible based on what you have got.

An Objective Decision

As well as being easy to evaluate, data analytics allow you to make an objective decision about your business based on the numbers and the facts. There is no bias generated in these reports or these numbers. Nobody has inserted an opinion that they want you to listen to, it is simply the cold hard facts that you need to read through. If you can manage to keep your emotions and feelings out of it too, then you will be able to make an objective decision about the future of your digital strategy.

Transparency And Accountability

Sometimes it’s hard to understand why a decision has been made. It can be tough to see what the thought process was and what the decision was based on also. But, when you use data analytics and leverage these to help make your decisions, this is not going to happen. You can keep these insights and it allows for accountability and transparency if ever it is needed. You will be able to provide the tools in which you used to make your decision, demonstrating why, helping to keep your business accountable.

Analytic Tools And Methods

As with pretty much anything, you’ve got quite a few options when it comes to choosing analytics tools and methods. It’s up to you to do your own research, but here are a few to get you started.

Google Analytics

One of the most popular choices when it comes to analytics is Google Analytics. This is a web analytics service that provides numerous tools to attain the statistics needed for your business. It is simple to set up, easy to use, and most importantly, easy to understand which is what makes it such a popular option.

A/B Testing

A/B testing is another option that you should be looking into. The basics of this is that it helps you to compare two web pages against each other, or two pages of an app or whatever, trying to help you determine which will provide the best user experience. It uses a variant to see which one is more popular or which one will bring you the best results, and then you can choose either A or B!

Time Series Analysis

This analysis is a statistical technique that allows you to look into cycles, trends and patterns over a period of time. How it works is that it is a sequence of data points that look at the same variable at different points in time so that you can better understand how shopping trends of your customers may change in the future. Using this information, you can adjust to see more success

Case Studies - Companies Who Successfully Scaled Their Digital Presence

Netflix

If you want a prime example of a company who has managed to do this, then Netflix is definitely one of them. They have used data insights to create the blockbuster hit series that we all know and love. With these popular shows came more marketing, and more people flocking to Netflix to find out what they could be missing.

Coca Cola

Coca-Cola is another fantastic example, especially when looking specifically at ads. They used data analytics to personalize their ads, ensuring that the right ad got to the right person through social media. This way, they ended up with a 4x higher click rate than they had previously, pushing their business even higher up the market.

Tips For Businesses Getting Started With Analytics

Be Consistent With Your Approach

When you are getting started with analytics, you need to remember that not everything is going to happen overnight. You’re not going to see any massive and major improvements just because you started using analytics the day before. You’ve got to wait, gather some information, and continue to be patient while you get what you need. As long as you have the patience and you remain consistent, this will help.

There are a range of different tools that you can use though as you know, seeing as we have looked at some of them. Use a couple of different options and compare the data if you want a little more peace of mind that you’re on the right track and using accurate information.

The Numbers Do Not Lie

One of the most important pieces of advice that we can give you is that the numbers do not lie. A lot of business owners have had trouble with what they are seeing when they get a report, they think it can’t be true or something is wrong. It’s not. You can double check if you like, but the numbers do not lie to you which is why they are such a helpful thing to have. 

Whether you like what you are seeing or not, this is what you need to use to make your business decisions. Don’t allow yourself to push you in the opposite direction based on what your heart says, take heed of the numbers in front of you.

Leveraging data analytics can be hard in the beginning, but this will only be true while you are getting the hang of things. You simply need to ensure that you are focused on the data that you are getting, and using it to make the best possible decisions for your business going forward. If you are someone who has made business decisions in the past on gut feeling alone, it will be a challenge to adjust, but it’s a necessary challenge that you are going to have to overcome. We wish you the very best of luck with your business, and hope that you end up seeing the success that you deserve.