October 2021
To leverage data, companies need information from various sources that give you impactful metrics. You can use this data to reach your business goals over time. Gathering this information is pretty easy these days, utilizing technology that allows users to search through millions of sources in seconds. These good data sets provide useful insights to leverage this information to promote your business.
5 Ways to Leverage Your Internal Data To Grow Your Business
Use Your Data To Brand Your Business and Establish Brand Awareness
You need to collect data and use the metrics over time to keep abreast on emerging trends in your industry. The patterns that develop can show a company’s strengths and weaknesses.This allows the company to implement a new branding strategy based on evolving trends.
Create Eye Catching Presentations and Reports
You can plug into your metrics and graphs to create templates for presentations. This may save time, but the presentation also could become stale from using the same reporting method continuously. Instead, developing fantastic reports with eye-catching graphics and intriguing context, comprehensive metrics, and scenarios will have much more of an impact on your clients.
Use Visuals
Visual aids are without a doubt the best way to grab attention and organize all your data. One study showed that eye-catching visuals on websites draw 30 times more attention than reports with just text alone.
Make Decisions Based on Competitive Intelligence
Competitive or “business intelligence” promotes decisions driven by your data that improve the functions of your company’s departments, such as marketing. If you monitor these metrics or Key Performance Indicators (KPIs), you can discover what departments in your business may need improvement or adjustment. The raw data can be used to provide actionable insights and coax data analytics into a plan of action.
Open Your Data To Outsiders for a Fresh Perspective
Believe it or not, some companies leverage their data by hosting a “hackathon.” The company will publish raw data and allow outside analysts to explore and even manipulate the information. This gives your business a different perspective on your content without an additional expense.
For example, internet giants such as Yahoo and Facebook host regular hackathons. These companies do this to spark new ideas from the creative department to create, innovate, and help the company gain a fresh perspective.
Companies that gather data from internal and external sources need to know how to leverage that data to help grow their businesses. Contact Inner Works Pro to get started on your business assessment today. We can show you how to get competitive intelligence, how to follow business trends, and many other website development and business management services.
