Understanding data without being overwhelmed
Every day marketers receive new data about consumers and their shopping habits. It can get overwhelming to make sense of all the new data. Learn how to weave through the information madness like a pro:
Revenue is most important
Focus on analyzing data that directly correlated with revenue. Every business depends on its sales and loyal customers to grow and maintain its standards. Whether it be connected to sales, units shipped or customer return rate, hone in on the revenue. This will help you cut through the noise created by excess data.
Involve your team
Most people can agree that lack of communication with team members is one of the most common pitfalls, which often results in doing extra work. Ask your team for any existing data related to your consumers or project before trying to get any new information.
Don’t expect data to do all the work
It’s important to understand that you need to find the correlation between all the data; it’s not going to stick out on its own. The best way to analyze new information is with a group – more brain power and different insights help find connections between data you may not have thought of otherwise.