Understand your customers through data
Your Business Data is Valuable
Data engineering has become one of the most valuable tools and assets of small and medium sized businesses. This is yielding endless opportunities to grow your revenue and rise above competitors in the industry. Businesses are becoming empowered to take control of their data with the right solutions to fit their unique needs.
Your Business is Already Collecting Data
Your business collects incredible amounts of information whether it is measured or not. This can include personal information through website contact forms. It can also include payment processing tools like Square or Shopify, website visits and actions, and other means. Data is collecting through these means innately and constantly.
These data can be operationalized by working with experts to determine the right processes for your unique business. Experts can create opportunities to get to know your prospects and clients better. This allows you to adjust your advertising, SEO, website structure and do more to increase conversions and maximize profits.
Data Analytics Provide More Information About Customers
Identify and Understand Your Customers in Aggregate
All organizations have trends when it comes to their prospects and clients.
Perhaps an organization thinks that clients in the Northeast of the U.S. tend to have a higher average spend in dollars for their products. Here is where leveraging data can be beneficial. Analyzing actual purchase data can prove or disprove this anecdotal trend. Here is an example data pipeline dashboard so you get a sense of what a business intelligence solution may look like for this type of problem.
Now, stakeholders can see more than just sales and profit by region. They can also view average discount percentage, profit, profit ratio, purchase quantities, and more. They can also compare all of these metrics over time, with a forecast! Visualizing data in a meaningful way makes it more powerful for business strategy.
Interact with the live dashboard.
Identify and Understand Your Customer Personas
Another way to leverage customer data is by comparing their purchases to recommend new goods to buy based on what people with similar spending habits or other characteristics have bought. This allows you to elevate your business strategy and become more competitive. Experts at Parallel Analytica unlock a wide range of data and focus on specific information to track and to achieve goals like these.
Example: Juan and Tom are two grocery store customers. They’re in their late 30s, live in the same region of the U.S., and tend to purchase frozen meals and energy drinks. Juan purchases one brand of energy drinks and one brand of frozen meals. Tom does the same but with different brands. Because they share behaviors and demographics, the grocery store can incentivize Tom to try a different brand of energy drinks and frozen food. They can do this through a sales promotion for those items that Juan tends to purchase. They now know that Tom is more likely to try these products if they offer this sales promotion to him and other customers like him.
Use Parallel Analytica to Further Engage Your Customers
We package data into automated dashboards hosted online in a solution like Tableau. We will also gather insights from your data and provide recommendations for your organization. Together, we’ll unlock a new level of strategic thinking for your business to achieve your goals.
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