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How Data Analytics Supports Strategic Business Decisions

How Data Analytics Supports Strategic Business Decisions
October 27, 2020

How Data Analytics Supports Strategic Business Decisions

Whether you operate a small to medium-sized business, work in healthcare, financial services, or another industry, data analytics are the key to transforming your business digitally. Traditional business models with an analog process may find it challenging to shift to information management with advanced analytics and technology.

The good news is that you can partner with a managed services provider (MSP) to get the most out of information technology with data analytics while ensuring compliance — giving your company an advantage in its industry.

Here are a few ways that data analytics supports strategic business decisions and how an MSP can help.

How Data Analytics Supports Strategic Business Decisions

Create a Robust Data Analytics Strategy

First, it’s vital to set goals and consider the type of data you need. And you also need to know how you will gather the information. You can access or purchase external data, use internal data, or try new collection methods.

Next, you’ll need a plan to apply analytics to gain critical insights. Think about what information you need to inform decision-making, improve operations, and generate value. Once you have a plan and understand what you want to learn, it’s time to decide on the software or hardware to turn that data into insights you gain from the analysis.

You can measure key performance metrics across areas such as:

  • Operational excellence
  • Product innovation
  • Workforce planning
  • Customer experience

Redefine the Customer Experience

When it comes to the digital world, customer experience is everything. That’s because they can easily click away from your content and go somewhere else without warning. However, using analytics to drive digital transformation helps your company discover and identify patterns and trends.

Data analytics helps your company understand its customers and how they navigate your website and social platforms. You can analyze the bounce rate. Analytics will also reveal which formats have the most impact on key consumer segments.

Then you can use that information to improve your customers’ experience by adapting to market demand. For example, help desk software and chatbots can streamline customer support and increase customer satisfaction because customers don’t have to wait.

Intelligent Business Processes Increase Productivity

Another area that data analytics service is in productivity. Insights help reduce labor costs and increase profitability. You can also free up resources from repetitive tasks with process automation software.

There are budget-friendly tools for email marketing, CRM and sales, audience targeting, and more that will:

  • Increase efficiency
  • Drive performance
  • Assist risk management
  • Measure success
  • Glean relevant data from website analytics, CRM software, and customer feedback

The best data analytic platforms will help you track a project’s process and communicate key milestones with team members. What’s more, you’ll see increased efficiency and find ways to streamline business operations.

For example, reporting and analytical dashboards can identify data correlation giving you detailed insights to perform cost valuations and pricing segmentation.

Is It Time to Let Data Insights Drive Your Business Decisions?

There’s a shift in business to digital applications. Cloud services and networks, remote work, and data analytics all drive business today. Maybe you’re ready to make a move, but you’re unsure where to start.

Uprite Services helps solve IT issues and drive business growth through first-rate technology solutions and data analytics. If you’re looking for a strategic IT partner, we’ll work to understand your business vision. Then we’ll recommend and build a proper IT infrastructure to promote productivity, efficiency, and profitability.

Our goal at Uprite is to create genuine relationships with clients and partners through continuous innovation and superior customer care. We specialize in offering Managed IT support services, including data analytics, cyber-security, Office 365 and migrations, backup and disaster recovery, cloud hosting, and more.

Get in touch today for a free consultation.

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