In the modern data landscape, it’s no surprise that more job roles are undertaking data analytics for better business. Why are non-data people undertaking analytics? For the insights. Analytics and business intelligence are used to extract key insights that lead to effective business decisions. Since insights aren’t visible in raw data form, you need data analytics and visualization to bring them to the surface. People forget that nearly everything organization come across is data, so the best way make educated choices is to use the data at hand.
In many job fields, analytics has become a new necessity. Some obvious benefits to simple analytics include financial comparisons, growth indicators, budgeting, etc. More complex analytics will find patterns and correlations, sources of success and failures, potential opportunities, and more insights to guide the business. Just think of it as collecting evidence to support performance optimization. Without it, you lose the chance to grow and profit. Data is a market that involves all industries and so in order to maintain success, you need to understand analytics.
Deliver Better Insights for Better Business Decisions
There’s an infinite stream of data for almost every industry. Really, everything. This opens up endless possibilities and outcomes, but manually processing all that data is prone to human error and wastes resources (especially time and money that could be spent on campaigning, building a network, etc).
But you can’t gain insights just by aggregating data. It’s complex work to get started, but it’s a profitable investment to make. To get started, consider these points:
- Collect and compile all relevant data sets
- Think about key questions and narratives that serve a purpose
- Identify KPIs (key performance indicators) within data
- Explore the best vessel for visualization and the audience
Throughout the years, Boost Labs has had a variety of clients in many different industries, all in need of some form of data analytics. On the surface, it sounds doesn’t seem like a medical professional, a lawyer, or a military representative would look for our services. All three don’t really need data analytics as a skill to do their jobs, so what exactly do they need from it? A way to present data insights. We’ve analyzed all sorts of data and built dashboards, reports, applications, and other custom visualization products that handle data insights.
Not every department and role will understand how to approach data in general, but anyone can learn what the process entails. Extracting insights begins outside of the data. For a data story to make sense, you’ll to have to ask many questions (assuming any data ingestion/compliance/security roadblocks have been addressed).
- What information does the data include? Metrics like units, prices, age, geography…?
- Who is your audience? Is it an executive, the public, or a professional field?
- Why is this insight/correlation/pattern important to business performance?
- What other role or expertise can further help identify insights and decisions?
- How will the insights change the business path?
We know this sounds like a lot, and it is. There’s no easy around data analytics, but it’s a valuable investment for the future.
Build a Foundation
Starting the data analytic journey crates a foundation for the future. If you ignore data, it’ll be a relatively blind decision making process. If you employ better data practices,
The possibilities are endless:
- Better marketing through audience segmentation
- A brand new data product in the industry
- Enhance professional performance internally
Explore the world of data analytics and learn how insights can improve business decisions.