The potential of untapped information - data analysis in the company

Key information:

• Companies collect data from various sources (e.g., Google Analytics, CRM systems, employee data) which, when properly analyzed, can support business decision-making.
• Companies do not need to invest in expensive systems; tools such as Excel and Google Sheets are enough for basic data analysis.
• Examples of data use: improving the effectiveness of marketing campaigns, optimizing sales strategies, analyzing customer behavior and preferences.
• Data analysis allows for informed planning of activities, tailoring of offerings to different consumer groups and improving operational efficiency.
• Using employee data helps to better motivate and evaluate performance.

Details below!

Any enterprise - a corporation, a large company, or an SME entity - can collect data. Collect information about suppliers, customers, consumers, or perhaps employees and entire company processes? Regardless of what they relate to, with proper processing they are an extremely valuable source of information. Data analysis in the enterprise - find out that it's worth it!

What kind of data? Where to get them from?

As part of its operational activities, the company uses tools that can be valuable sources of information: statistics from Google Analytics, audience activity under social media posts, data from CRM (Customer Relationship Management) systems, order histories, order value, customer ID, order date, order region, or perhaps accounting data on revenues or expenses, or internal data on employees - their working hours, tasks performed, work results, information on motivational methods used. The examples listed are basic information that most companies collect, or can begin aggregating without delay. Although put together at first glance they do not add value to the company, with proper processing, analysis and visualization they can be the basis for rational business decisions.

Do I need a specialized program?

Large companies often incur huge costs to put in place an appropriate system to collect data and, based on that data, produce reports. SME companies are often not ready to bear such costs. Nonetheless, already basic tools such as Excel or Google Sheets can be suitable for creating company databases. Gathering information from various sources in one place will make it easier to analyze the data and draw conclusions later.

Data analysis - theory versus practice

Imagine a situation where the raw data downloaded from a source such as Google Analytics has been properly ranked and presented, and additionally described in such a way that you get answers to questions: Where are the visits to your website coming from? Which sub-pages interest your audience the most? When do they visit the site? How much time do they spend there, and much more. Such data can be the basis for planning, for example, an effective promotional campaign. Based on the above-mentioned data, you are able to plan the schedule of activities, their type, or choose the best portal and time to publish the developed materials, as well as the target group. What about, for example, information about customers, about transactions, their values, discounts given? This is a kind of basis for developing a sales strategy and even a pricing policy. Maybe it will turn out that most orders are for expensive and unpriced products, that the low price was not the main determinant of your customers' purchasing decisions. Maybe customers in region X mostly buy Y products, and it is the sales activities concerning this category of goods that should be mainly carried out, and others modified. Or maybe the number of orders has been declining in March for several years compared to other months of the year? Isn't there an incentive to analyze what is going on in the company's operations at this time?

Data potential worth tapping

Customers do not make rational decisions and do not act logically. We are not able to predict their actions. However, by collecting data and analyzing it properly, one can more likely assess the direction of their actions. Data on employees is the basis for possible changes in the company, how to motivate them, or better evaluate the results of their work. Website traffic, social media activity will help define the profile of your audience and tailor your activities to be of interest to them, so you can increase brand recognition and gain new potential customers. Differentiated sales in different regions of the country or the World? Tailor your offerings and activities to specific consumer groups. Conscious planning, setting not only goals, but how to achieve them are benefits you can achieve by tapping into the potential of untapped information and collected corporate data.

Do you have databases that are too demanding to compile, or maybe there's just no time? You don't know how you can use the potential of the information collected in your company. Don't hesitate, contact us!