Data is a simple fact of running a business in this day and age. However, you must understand that data is more than facts. What good are a million customer insights if you can’t convert numbers into actionable information? We have the answers! Read on to discover three signs your company needs a data analytics solution.
Tons of Meaningless Data
A dataset consisting of tens of thousands of data points is potentially very useful—and potentially very useless. A pile of numbers is meaningless unless you have a way to parse the data and glean helpful insights into your customers’ habits.
If you have more numbers than you know what to do with, data analytics can help guide you to understanding. This is the single largest benefit to data analytics—it’s a way to make sense of the proofs and figures arranged in columns before you.
Reports Come Too Slowly
Many businesses rely on up-to-the-minute information to stay agile in a competitive space. When you learn about a new trend that could benefit your company, it makes sense to pounce right away so you can capitalize.
Unfortunately, when that information arrives on your desk too late, there’s not much you can do. Data analytics ensures you have the reports you need when you need them.
Old Spreadsheets Aren’t Cutting It
When you scour through the old spreadsheets in your data catalog, you may find them sufficient. However, where Excel once served you well (when you had far fewer fields to fill), you now find that populating an Excel spreadsheet is time-consuming and far from flawless. Data analytics provides an alternative without the possibility of an invalidated report due to a single incorrect formula.
Now that you know these three signs your company needs a data analytics solution, come up with your own solution and start benefitting from new insights. It won’t take long to see results, so set the wheels in motion and enjoy the results!