What you must know about data measurement
Measuring data has never been more important for businesses with an online presence. Through in-depth organisational and strategy analysis, you’ll be able to detect what has had the most impact and use that same information to drive company growth.
Although you may have heard great things around data measurement and the influence it can have on your marketing strategy to enhance consumer relationships, it’s important to familiarise yourself with the opportunities it can bring.
Whether you’re using Google Analytics for your own website or Trustpilot to see what your customers are saying about your business, you must become extremely diligent when using data to ensure that you’re making the right decisions at the right time.
Not only can this data help you prosper more online, it can also help mitigate risks and allow your business to come up with more appropriate solutions to remove any potential corporate damage.
A brief overview of data measurement
Before you begin the process of measuring data measure, you must properly define your long-term goals and determine what results will be successful for your company. Although it’s essential to make your goals achievable, you should also be looking at setting yourself a challenge to endure excellent outcomes across the board which will eventually become the firm foundation of how you measure the data you have collected.
Following this, you must begin to take a focus on your key performance indicators (KPIs) and how they relate to the objectives you have set out and, more specifically, commercial goals. Not only will this give you a greater overview of your position as a business, but will allow you to justify decisions around increased or continued investment.
You want to have a complete outline of business operations too, meaning that you must collect and organise data efficiently. To develop a greater understanding of what is going on within your company, you must recognise all business processes when obtaining data — including marketing, sales, product, workforce (including training) and budgeting.
Although there is so much more to data measurement, applying the information is one of the biggest steps to overcome. Begin to analyse the intelligence you have collected, draw conclusions and make strategic recommendations.
If you’ve highlighted any weaknesses through data collection and measurement, you must create a plan to overcome these critical areas and demonstrate the strength of your company.
We’re hosting another Digital Breakfast Seminar that will look at the importance of measuring data. Join us on the 20th September to hear from key speakers, including Daniel Hoggan from Mediaworks, Stuart Buckley from Calltracks and Katie McCullagh from Google.
Save your space — tickets are going fast!