4 Ways Data Analytics Is Boosting Your Business

Smart data is a new term that can be used to transform digital insights derived from big data into data that businesses can use to improve marketing decisions, website design, customer information, and more. Unlike big data that collects everything, intelligent data is rich in context and meaningful information: key performance indicators (KPIs), transformations, retention and other actionable information are intelligent data.

Smart data is extracted from big data by smart algorithms and converted into models or other information that reveal user behavior, purchase information, trends, sales analytics and more.

How to improve sales by optimizing your website based on smart analytics?

To optimize your website to increase sales based on intelligent analytics, you need to make the most of the information you collect.

Understand your website visitors, browsing patterns, and expectations, and deliver a user experience that delights the customer journey on your site. A good user experience is essential for satisfied customers to return and support your products on other sites through email, social media or word of mouth.

Use smart analytics to improve your website content enough to convince your visitors to make a purchase.

Collect information to predict demand and create special promotions and data-driven marketing strategies.

Use your data to create content for specific customer segments (for example, to satisfy existing customers or attract new ones).

Turn unstructured data into actionable information

Big data is huge, unstructured, and essentially useless unless it is "filtered" through multiple algorithms to get the best possible meaning and information. To achieve intelligent data it is necessary to reduce the level of information provided by big data to useful information. To do this, you create subsets or groups of data based on specific delimiters, such as customer purchase history, location, behavior on your site, and other factors relevant to your business.

Better customer targeting

By understanding customer behavior and purchasing preferences, marketers can improve their site (images, product information, pricing, and special offers) to sell better and increase ROI.

By analyzing data from past promotional campaigns, marketers can design better promotions to target specific customer segments, interests, related purchases (such as Amazon's "related products" and other predetermined criteria based on intelligent data. .

Identifying customer navigation patterns combined with product categories can help you target the right customer segments and increase sales when promotions are combined with other marketing campaigns such as personalized advertising and emails.

Customer demand forecast

Intelligent analytics is useful for forecasting sales, especially for e-commerce sites to optimize inventory and inventory. It is also used to predict potential sales and review marketing strategies to achieve these goals.

Using smart analytics to predict customer demand can help avoid alienating website visitors from out of stock items and slow delivery times. Retailers can also use analytics to predict returns and procurement.

Better business intelligence

Understanding what consumers want, what they want to buy, and what they want to pay provides smart data to help businesses improve and increase sales. For example, in 2018 AB In Bev acquired Weissbeerger to improve its market reach by using data to analyze people who drink beer and their habits, the taste of their favorite beer, how much beer is sold, where and when. .

AB InBev spokesman Peter Dercon told De Tijd: "Thanks to Weissbeerger, we are able to better support our hospitality industry partners and better leverage the evolving needs of consumers."

Wrap

Since intelligent analytics requires input from multiple channels, you might want to consider using software like InetSoft or Supermetrics in addition to Google Analytics (which is already good enough for small businesses).

The optimization of your site based on data analysis is very useful for not only increasing sales, but also for increasing the relevance and discoverability of your site in searches, providing a better customer experience, and improving customer conversion, retention and promotion.