Fall is here, which also means budget season for businesses around the globe. Each year around this time, I like to share my love of data science and the great things it can do for a business. If you don’t have an analytics program today, consider adding one into your budget for 2020 – it will pay off quickly. If you’re trying to convince leadership of the need for more data in your life, here are a few bullets to use in your next conversation. If you need a longer list to make your case, let me know how I can help!
Work smarter, not harder.
It’s time to make a decision about an upcoming marketing offer….GO! Wait, you say you need to gather information? Pull some old metrics? You need to run some numbers? … What if you could just pull up a dashboard, see the information you need and make this decision now? While others may be running around spending hours to weeks gathering data to make one decision, businesses with an analytics program can make agile decisions in minutes, not weeks. Dashboards provide easy access to answers, which allows your business to work smarter, not harder.
I spy an opportunity.
If you’re looking for your company’s next big opportunity to impact revenue, analyzing company data may help you spot it. Quickly look through historical results, trends and other valuable insights to call out your largest areas of concern, as well as your widest avenues of opportunity. Data analysis can help uncover areas where efficiency can be gained or where success might be found. Discovering actionable insights can help strengthen your business, or if your business doesn’t need strengthening, maybe just tighten a few bolts to improve the performance of the company machine.
Stretch your dollars.
Would you like to market to a million people you know nothing about or 500 people you know a lot about? Clearly the cost to market to only 500 people would be much less, and because you have intelligence about them, your return on investment is likely to be much higher as well. Marketers are only given a certain budget to work with each year, so help yourself and help your business by getting every bit of revenue from those precious marketing dollars as is possible. Data makes it possible.
If the issue of data security is raised during discussions with leadership, make sure to advise choosing an analytics partner who prioritizes it. At B2E, we take data security seriously and are SOC II compliant. Adding data analytics to your marketing programs can make a world of difference, but choose a skilled partner, such as B2E, who can protect your valuable information and help you get the most of it.