3 Vital Tips for Introducing Data Analytics to Your Business
Integrating data analytics, whether it’s done through local IT infrastructures or cloud services, can help companies grow and troubleshoot their problems in real-time. More and more companies are moving towards data analytics to improve efficiency and profitability. However, many enterprises struggle to incorporate data analytics. Today, we will discuss vital tips necessary for beginning your data analytics journey.
Setting Goals for Analytics
The first thing you need to do is set your goals for what you want data analytics to achieve for your organization. Often, data analytics becomes a term that is thrown around as a vague solution for sifting through information. However, setting concrete goals for what you aim to achieve through your analytics helps streamline the process and gets you answers and outcomes that are practically usable.
Don’t fall into the trap of mixing up “reporting” and “data analytics”. Many people treat these terms as synonyms, whereas that’s not the case for functional application. Data analytics provides an interpretation of existing data to help answer questions and solve problems companies are facing. Reporting simply means to present available data for informative purposes.
Understand Questions That Need to be Answered
Once you have your goals set for your analytics, the next step is to figure out which questions you need answered to improve your product, service, or practices. Analytics can be used to answer extremely specific questions, and are most useful when you have a clear idea of what you’re trying to find out.
The questions asked can’t be as general as “how to make more money?”. Rather, try asking what is driving up costs, what provides the most profit, and what can be changed to increase profits.
Deciding Useful Tools for Your Organization
Data analytics is as good as the tools you are using, and the expertise of the people conducting the analytics. You can either choose tools that are already available to you or invest in something like cloud services which offers new tools and user-friendly interfaces that make it easy to run analytics. With cloud services, you choose which services and tools are required and use them to run your analysis.
If you’re looking to make the switch to better analytics data services offered through cloud services, then reach out to our team at Continuum Innovations. We offer a complete managed cloud service in Princeton. Contact us to get started!