Offer Valid: 09/23/2022 - 12/31/2022

Data analytics has become a hot-button topic, with business owners eager to harness the power of big data. The US has even introduced programs to fund the data sciences, encouraging greater use of analytics in government initiatives. As an entrepreneur, you may be eager to leverage data analytics—but not be sure where to start. Don't stress. There are many practical uses for data, from boosting employee engagement to fine-tuning marketing. The below guide courtesy of the Portage Chamber of Commerce covers some useful options.


Enhance Customer Acquisition and Retention Techniques


Your business relies on customers. For long-term success, you need to not only find new customers, but also keep them around. Data can play a big role in customer acquisition and retention. For example, data makes it easier to upsell and cross-sell to customers, enhancing their convenience while also driving your profits. Based on what customers have bought or viewed on a website, you can propose products that are right for them. Thematic recommends developing a "data roadmap" with KPIs to structure what data you want, how you'll gather it, and what you'll use it for.


Make Customer Service Better


One of the most important things you can do to retain customers is ensure great customer service. Big data can help here too. For example, prescriptive data analytics can help determine the most efficient way to solve a customer complaint. Meanwhile, predictive analytics can help forecast customer behavior, establishing the best-practice approach when dealing with certain customer trends. Data can also be used by customer service relationship, CRM, management tools to improve customer relations and track leads.


Improve Digital Marketing Opportunities


Digital marketing, like social media and pay-per-click advertising, makes it easy to collect data. For example, you can track social media likes and shares. This data lets you see which of your marketing techniques is working. You can then tailor your strategy accordingly. When discussing visual marketing with marketing consultants like these, you can use a JPG to PDF converter to compress files and make them easier to email. The image quality is maintained, and you can convert numerous images at once.


Mitigate Everyday Business Risks 


Businesses face all kinds of risks, from financial to cybersecurity. Data analytics can help on many fronts. Take cybercrime as an example. Data can be used to help determine what threats are most predominant and how to best deal with them. Historical data can also provide details about repeat issues your company may have, giving you the impetus to make changes in your security approach. For example, the habits of certain users may impact security in a given network.


Update Your Website 


The information you gather from data analytics can help you to redesign your website to drive more traffic there and get visitors the information they need. As you’re communicating with your web designer, you can do a PDF to image conversion to share information with them from your analytics reports that they can either use to inform their design changes or even include on the website. 


JPGs are generally best for web design, and the transparency you’ll show your customers can go a long way in developing trust. If you are willing to share some important data publicly, perhaps as a response to a perceived need or the results of a recent campaign, you will generally see a positive response from customers. Even if the results weren’t what you had hoped for, your transparency, especially when paired with reflection about the campaign and how they can address shortcomings, will do a lot to support your branding and ethos.


Enhance Product and Service R&D


Research and development, commonly referred to as R&D, allows your company to create new products and services that meet your target audience's needs. Big data can help in R&D departments by streamlining resources, improving operational efficiencies, optimizing product development pipelines, and helping to drive general growth. For example, you can use big data for predictive analytics by tracking consumer trends. This can then help you determine what products your target audience wants to see.


Streamline Daily Workplace Operations


If properly implemented, data analytics can streamline many workplace processes. For example, you can use data to track workflows and identify bottlenecks that are holding up production. Business process management (BPM) can help you analyze how people interact with processes and systems, ultimately helping to optimize processes. In the big picture, this will help improve efficiency. To make the most of your BPM framework, make sure to set clear KPIs and monitor effectiveness regularly.


Embracing Data Analytics


The term "data analytics" may be daunting for business owners wondering what it is and how to best use it. In fact, data can be used to improve business operations in many straightforward ways. Let data show you how to improve your business and your website, and show you what you are doing well. Great businesses embrace a willingness to change and adapt their practices, and data analytics is a great way to begin that process.


Interested in learning how other local businesses are seeing such great success and growth? Join your local Chamber of Commerce for business connections, resources, referrals, and more.


This Hot Deal is promoted by Portage Area Chamber of Commerce.