3 Actionable Analytics Tips For A Data Driven Industry

Written by Chloe Harwood

It is hard to know what is essential and what is needless in modern business. There are so many ‘must-have’ features that it’s almost impossible to choose. However, one area which everyone agrees to be integral to success is Big Data. In 2017, success is not going to be achievable if you don’t use an analytic software service. But, using it isn’t enough because you have to know how to use a program to get the best results. Sadly, lots of business owners and entrepreneurs don’t understand analytic software and suffer as a result. To make sure you don’t follow the same path, below are three actionable tips to keep in mind.

#1: Go Back To Basics

It’s a cliché, but to say that a statistic is like a language is true. And, you have to learn the language of stats if you want to be able to find the answers which will transform the company. The trick is to go back to the start and begin from scratch. Far too many entrepreneurs think they can enter the conversation at an intermediary level and pick it up. The reality is different because you need to understand the nuances to be able to see the patterns and links. It is low-tech, but reading a book always helps, especially if you are a beginner. For those who prefer something more high-brow, there are plenty of seminars worth attending. Either way, it is important to begin at the bottom and work your way to the top.

#2: Implement The Right Platforms

One of the hardest parts of is choosing the perfect platform for the company. Because of the variety at your disposal, it is not easy. Plus, the impending consequences make it more difficult. As a rule, try and keep it as basic as possible in the beginning. Izenda’s embedded BI and analytics program is an excellent choice for a novice to learn and expand your knowledge. And, don’t forget that big and small businesses alike use BI and analytic software. Once you have a firm grasp on the fundamentals, you can move onto the next level. For example, you can learn how not to augment customer information. However, don’t jump the gun and make a move too soon.

#3: Focus On Communication

Communication has two parts, and the first centres on jargon. As you know, it is important to keep the information as simple as possible. This is difficult to do when reports are full of jargon and technical language. Instead of letting it confuse you, translate it into plain English. For businesses with employees, this affects the entire firm. The second part is about communicating problems when they occur. It is fine having software which detects issues, but it is pointless installing it if you don’t act. As soon as there is a red flag, people need to know how to respond, which is why protocols are essential.

And there you have it – the three tips which will transform your analytic strategy.

About the author

Chloe Harwood