Nov 9, 2015
Anyone who isn’t living under a rock these days can see that businesses know how to target you. If, for instance, you search Google for a watch to buy for your brother’s birthday, the next thing you know there will be ads for watches on your Facebook, amazon account, and random websites you visit.
So why is this information valuable? Business have to make informed decisions if they want to make money. They need to know who their customers are, where they can find them, what will appeal to them, if they don’t have many customers then why, and if their current strategy is working or not. They need to track their website and social media accounts and how they are getting customers engaged. They measure clicks, views, and likes. And so big businesses collect big data.
If there is a disconnect between a business and its customers, then the business will fail. It’s why marketing is such a big deal. You could have the greatest product in the world but it will be for nothing if you can’t sell it. You have to bridge the gap between customer and business.
So how do you cross this great divide that separates you and your customers? Research. You gather information. You find the answers to all those questions. You learn as much as you can about your target market. You collect numbers, data, statistics, and information. Then come the insights.
Once you have information that will help your business, what do you do with it? Collecting the data was only half the battle. This is where analytics come in. Analytics can turn data into insights. Insights that are based on facts. With these facts and an improved knowledge of your target market, decisions can be made. Profitable decisions. Solutions for problems will be made obvious and effective strategy can be developed.
Big data isn’t just for big business anymore. Small businesses can benefit from using analytics software, and with Setrics, your data can be turned into profits.